Discussing how much you get paid is something that traditionally makes British folk uncomfortable, but a decent salary is important – and you can’t expect to be considered a great employer without rewarding your employees.
Pharmaceuticals company Pfizer UK is well aware of that. “Our salary packages are reviewed at least annually. Pay changes most years, based on merit considered alongside annual inflation,” says Liz Greenfield, Pfizer UK’s head of HR for the north-east region.
Having said that, tailored benefits packages are, alongside a sound base salary, very attractive to potential staff, and play a huge role in ensuring employees are satisfied.
“At Pfizer we believe every employee is important, and that we all have a role to play in representing the face of Pfizer,” adds Erik Nordkamp, managing director of Pfizer UK. “It is therefore critical we recognise the importance of creating the right culture and environment in which our people can thrive.”
Other businesses give staff a genuine chance to become a part-owner. At IT outsourcing company CGI, over 80% of the UK workforce are shareholders. “This ownership mentality is woven into all aspects of our management approach,” says Karen Townsend, vice-president of HR in the UK at the company. “It gives our members the freedom to drive their career, make decisions in the best interests of clients and benefit from a job well done.”
Pfizer UK lets staff define their benefits for the next year from a suite of options falling under the categories of security (such as pensions or life and critical illness cover), health (such as dental cover or gym membership), lifestyle (such as childcare vouchers or dining cards) and green (such as cycling schemes).
“We wanted to ensure our benefits offering matched the diversity of our colleagues. We also wanted them to have more control over benefits, to suit their individual circumstances,” explains Greenfield. “We review the different types of benefits each year to make sure they reflect the different demographics.”
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