2014 -5 CIPD Reward survey

The main aim of the CIPD’s research was to provide benchmarking in respect of current and emerging practices and trends in UK reward management.  The key trends are:

Top 3 factors influencing factors are:

  • Organisational ability to pay (78%),
  • ‘Going rate’ of competitors’ pay rises (46%), and,
  • Recruitment & retention issues (45%).

Base Pay:            

The most common criteria to manage individual base pay progression is:

  • Individual Performance (74%),
  • Competencies (64%), and,
  • Market rates (61%).

 

Variable Pay:     (Individual)

The most common individual performance-related reward schemes

  • Individual bonuses (57%), and
  • Merit pay rises (51%)
  • Combinations schemes (46%)

Variable Pay:     (Group)

The most common group performance related plans are

  • Goal-sharing (53%) and
  • Profit-sharing (40%)
  • Group /Team goals (30%).

Just under half of organisations operate one or more performance-related reward, incentive or recognition scheme.

 

Source:   CIPD Reward management survey 2014-5 

(Based on 525 respondents from the public, private sector & voluntary sectors)

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