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Sustained research on managerial labour markets and pay determination has informed and influenced key policy-makers in determining rewards and remuneration for senior medical professionals. As an expert `economist' member of the Doctors' and Dentists' Review Body (DDRB), Professor Steve Thompson has contributed to recommendations that have been endorsed by the UK Government and are used as an evidence base for negotiations between the British Medical Association, the Department of Health and devolved administrations within the UK.
In 2012 the Department for Business, Innovation and Skills (BIS) identified "the constant, ratcheting up of executive pay [a]s unsustainable" (section 5 below: 4;5). In addition to informing this call to action, Surrey's research, in collaboration with PricewaterhouseCoopers (PwC), has changed how senior corporate decision-makers design and implement long term incentive plans (LTIPs). Adopted by PwC (the world's largest professional services firm, operating in 159 countries and revenues of $32bn), this research has influenced the company's own reward policies and those of its international client network, some of the world's largest corporations.
The work has been part of policy debates and has been cited by UK BI Skills and the Financial Services Authority.
Research by the International Centre for Women Leaders (ICWL) at Cranfield School of Management has influenced recruitment for board-level appointments of publicly listed UK companies and has changed the composition of corporate boards in UK FTSE-350 companies.
Since 2011, the ICWL's annual benchmarking reports have stimulated a doubling of female appointments to boards, leading to a sharp decline in the number of all-male boards, from 21 to six for FTSE-100 companies, and by over 30% for FTSE-250 companies.
These changes in board composition and the practices of 36 leading executive search firms owe much to the Davies Report (2011), a UK Government sponsored review of women on corporate boards which drew extensively on the ICWL's 2010 "Female-FTSE Report".
Impact for the CPHR is derived from its collaborative partnership between their world-leading HR researchers and 20 primary sponsor organisations. Through this network the Centre stays abreast of the current issues facing HR directors. This co-production of knowledge generates performance-driven solutions that have benefit to the wider business community. These are distributed through high-impact white papers, journal articles and initiatives with the CIPD (the professional HR institution). Examples of organisational impact include a new strategy at McDonald's `Trust Based HR' and a 20% increase in job satisfaction of employees aged 60+ and the creation of an Executive Vice-President position at Shell.