Our women in Leadership group met recently to examine the complex question of employee pay and rewards. On the day, we were pleased to welcome Rameez Kaleem, Founder and Director of Central London-based Independent Pay & Reward Consultants, 3R Strategy, who visited us at our base at The Plaza, and expertly guided our discussions. He explained 3R Strategy’s pivotal 3Rs, the principles of Reward, Recognise and Retain.
He also challenged us with the What, Why and How of organisations, surprising some of us with the insight that while almost all organisations know what they do, by no means all of them can define why or how they do it. It was certainly revealing to find out that some quite large organisations have never formally defined their ‘how’ and ‘why’.
Rameez imparted some excellent food for thought, which our senior HR professionals really appreciated. He gave us some provoking insights on: the latest trends in pay transparency; putting together a business case for pay transparency; the EU pay transparency directive; pay budgets for 2025; building a fair and equitable approach to pay; and helped us examine the potentially thorny question, ‘Should we link pay with performance?’
This was a very helpful session, and sparked some lively discussion and knowledge exchange among our HR senior professionals. Our members were also able to present and discuss some past and present real-life challenges and to share their own experience and expertise.
In addition to hearing from some outstanding industry specialists this year, our own Women in Leadership HR experts have benefitted hugely from networking with each other in our Pursuit Group sponsored knowledge exchange.
A huge thankyou to Rameez and to everyone who took part.
This session’s Women in Leadership members were also the first to see our new Salary Benchmarking Survey which we will be launching soon. Do keep an eye on our LinkedIn and check back here soon for details of its more general release!