Extract from IDS Executive Compensation Review 313

Reward strategies still in minority

For the sixth year running the Chartered Institute of Personnel and Development (CIPD) has published its annual survey looking at reward management in the UK. Launched at its annual reward conference in February, the survey provides a valuable insight into today's reward practices and trends.

Reward strategies may be a 'must have' policy according to pay gurus, but new findings from the CIPD show they are still in the minority. Surveying the reward policies and practices of 466 organisations across all sectors in late 2006, the CIPD found that only 35 per cent reported currently having a 'reward strategy'. But while there has been little progress in the proportion of organisations actually with reward strategies, a further 40 per cent indicated they would be implementing such a policy in 2007, suggesting that they continue to attract widespread interest across the HR profession. This article highlights current practices and trends and provides tables showing the latest CIPD findings.