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People Management: No pay rise, no problem?


Not everybody is underpaid in the current economic malaise. Take Herbert Stepic, chief executive of Austria’s Raiffeisen Bank, who felt sufficiently comfortable to hand back around £1.7m of his salary on the grounds that “remunerations can turn out to be too high”… Dr Jonathan Trevor, lecturer in HR and organisational behaviour at Cambridge Judge Business School, says employers could go even further to get more value from their reward strategy. “First, stop using consultants and spend the money on management development and people training. Second, simplify pay…”

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