TOTAL REWARD
The Crown Estate introduces total reward
The Crown Estate has devised and implemented a new total reward strategy over three years, according to a new case study published by Innecto Reward Consulting.
Valerie Burns, Head of Human Resources, takes up the story: “In late 2006 we were experiencing recruitment problems because our reward packages did not reflect the job markets in which we were operating. We had a very traditional public sector pay model which was generalist and inflexible – it simply didn’t allow us to attract and retain the calibre of people we needed to meet our business objectives.”
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Over the next two years, Burns and Innecto looked at job descriptions, carried out job evaluations and benchmarked against the relevant markets. The result was a total reward programme replete with a new job family pay structure, new performance management arrangements linked directly to a new bonus scheme, new pension arrangements and a revised benefits package.
Now largely complete, the new total reward scheme is proving to be successful. Burns said: "It's been hard work but we are now able to recruit with no difficulities as we are consistent with the commercial markets. It's also given us a degree of flexibility we didn't have before."
A final word
“At the time, this was probably the most complex reward review we had ever considered. Our task was to produce a single reward strategy that could be applied to people working in very different environments and job markets – the difference between the reward requirements of the property management team based in London and Edinburgh are a long way removed from the estate workers who tend woodland or agricultural land. Dividing the project into three phases allowed us to focus on each sector of employment separately and clearly.” - Justine Woolf, Director, Innecto Reward Consulting.
Want to know more?
The Crown Estate is a public body and has a dual role as both guardian of some of the country’s most important land and as a revenue generator for HM Treasury.
You can download the case study in PDF format from the Innecto web site at www.innectogroup.co.uk/who-news.asp?id=21.
Innecto Reward Consulting are “leading experts in designing bonus schemes, undertaking salary benchmarking, conducting job evaluation and facilitating reward and benefits strategy.” To find out more visit www.innectogroup.co.uk.