Employee benefits consultants focused on keeping rewards competitive

Employee benefits consultants and reward professionals are confident that they will spend less time in 2010 trying to cut costs and over half say they are focuses on keeping their packages competitive, according to the latest Reward Survey from the Chartered Institute of Personnel and Development (CIPD).

Some 52 per cent said their top priority was ensuring that rewards are aligned with the business strategy, while over half of respondents (53 per cent) said they believed salary spend is going to increase this year.

Charles Cotton, reward adviser at CIPD, said: "The survey results show a distinct shift in the approach to reward. Employers seem more confident about the economic outlook in the months ahead and have refocused their thinking with that in mind.

"Many will be going back to the drawing board to revisit their reward strategies in the wake of the recession and may be keen to link pay more with performance."

Earlier this week, a research survey by professional services firm PricewaterhouseCoopers showed that the majority of UK chief executives are looking to improve on employee engagement and retention in 2010. Back