The Chartered Institute of Personnel and Development (CIPD) has issued guidelines on executive pay for the use of HR departments, it has been reported.
HR directors and remuneration committees will now have help at hand when it comes to developing executive policies in remuneration, along with structures and practices.
The guidelines follow a consultation launched with reward experts and represents the CIPD’s policy on how such remuneration should be structured.
It also claims to be built to last the long-term, without being influenced by current reports on executive rewards, but instead focussing on issues such as risk.
Charles Cotton, CIPD reward adviser, said: "Organisations should focus their attention on what they need to do to ensure their reward packages support the needs of the business and its stakeholders and to attract and retain the talent the business requires."
The news comes after Incomes Data Services revealed the median rise in pay for UK workers stands at only one per cent.