A monthly magazine dedicated to pay issues, such as large bonuses and incentives awarded to many company bosses, has been launched by Centaur Communications.
Pay & Reward has launched as a spin-off to Centaur’s Employee Benefits and will focus on the pay and salary issues affecting large employers.
The 28-page business title was piloted last year and distributed to readers of Employee Benefits under the name Compensation Strategy. Centaur felt there was sufficient room in the market for a standalone magazine.
Employee Benefits and Pay & Reward editor Debbi O’Donovan said the monthly title would address issues such as bonuses and executive pay, which often featured highly on the news agendas of the nationals but were not covered in as much depth by Employee Benefits.
“We have been writing about benefits for many years but have never written about the cash and salary side and the rewards that employees get in terms of cash,” she told Press Gazette.
“It suddenly seemed obvious that we were missing out and it was something that was very important to our readership. The whole issue of executive pay for example, has become crucial to the nationals – everybody is writing about it.”
O’Donovan said pay had also become a bigger issue for human resources directors as a result of changes in technology.
“Pay is important to everyone and because of the rise in technology payrolls are no longer something that is done in the back office of a finance department. Instead of just being sidelined, payrolls have become more crucial in the way that companies are run and a part of HR.
“We spotted that gap in the market and thought we could write a magazine about it,” she said.
Pay & Rewards will be distributed via controlled circulation.
O’Donovan has been editor of Centaur’s Employee Benefits magazine since 1998 and is joined on the launch by staff writer Peter White.
Centaur is expected to recruit additional staff later this year.
By Ruth Addicott