By Max Clarke
High inflation and budget constraints are putting pressure on organisations’ ability to use pay effectively to attract, retain, and motivate staff.
As a result employers need to focus more than ever on creative and innovative ways to maximise the impact of their reward strategy on the business. This is a key focus of the 2011 Chartered Institute of Personnel and Development’s (CIPD) Reward Conference.
“Although we are seeing certain areas of the economy slowly recover, increasing pressure from high inflation, stagnant wages and public sector cut backs, means organisations still need to maintain momentum and really consider the impact of their reward strategies on the business,” commented the CIPD’s Charles Cotton.
Senior leaders at McDonald’s, Unilever, Oxfam, TFL, Capital One, The National Trust,John Lewis and Sainsbury’s, will attend the CIDP’s conference tp share their expertise and experiences in rewarding and managing personnel. Round table discussions and workshop sessions will allow delegates to explore the latest developments, trends and thinking in reward management.
Continued Cotton: “Innovation is the key to success and I think we are going to see increasingly dynamic reward strategies as we go forward, which can only have a positive impact on boosting long-term sustainable performance and productivity.”