Standardised reward system introduced across NAG Europe

MERGERS AND ACQUISITIONS

Standardised reward system introduced across NAG Europe

Aligning reward policies and practices after a merger can represent a formidable challenge for HR and compensation professionals. Pay analyst Industrial Relations Services has just published a case history examining how the process was managed at the National Australia Group, a financial services business.

Until 1998, NAG was organised into semi-autonomous business units, which included the Yorkshire, Clydesdale and Northern banks, each with their own pay and grading systems.

New arrangements

In January 2000 it introduced a new streamlined reward system across the majority of its subsidiary banks, including:

  • a new ten-grade structure underpinned by Hay job evaluation

  • the introduction of 32 job families

  • a revised performance pay matrix.

What you'll find in the IRS report:

Spread over four pages, the IRS study looks at the following issues:

  • how NAG Europe harmonised the different pay and grading systems

  • the process used

  • the details of the new arrangements

  • lessons learnt.

Case-study details

Title: Integrating pay and benefits at NAG Europe , Pay and Benefits Bulletin 511, January 2001.

Availability: Contact the subscriptions department at Industrial Relations Services, tel: 020 7354 5858, or for editorial enquiries email the editor jeremy.baugh@irseclipse.co.uk.

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