As we prepare to start planning for the 2023 salary reviews in the midst of the cost of living crisis, I would be keen to understand what other members of the CIPD are planning or have already done salary or benefits wise which has helped during the cost of living crisis.

We are planning to do a full role by role salary analysis using Radford data to understand if we have any salary gaps from 2022 to date. We have a number of employees who are paid just above the London living wage and with the new minimum wage set to increase, we are going to focus on employees in this group to ensure they are paid competitively to reduce any attrition.

We are also exploring a 4 day working week trial for this summer with the help of the University of Sussex.

Other ideas we have bounced around are to pay a one off payment like Rolls Royce did and make it a 12 month allowance, so the payment is not paid in one go but also not fixed to the salary longer term. This being to help keep employees retained and to help with money management.

Has anyone got any other ideas or practices they have used which have helped keep employees retained during these odd times?

Thanks
Emma