All Article articles – Page 683
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Former Co-op employees fight for bonuses
Former employees of the Co-operative Group have launched legal action against the employer over unpaid bonuses worth around £1 million.The 10 employees, who worked for Co-operative Insurance Society, the mutual’s insurance organisation, which was sold to Royal London in July 2013, have launched formal grievance proceedings against the Group.The move ...
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Gender pay and bonus gap remain strong
Male managers earned average bonuses twice as big as those of their female counterparts over the last 12 months, according to research by the Chartered Management Institute (CMI).Its annual National management salary survey, conducted with XpertHR and including data from more than 43,000 UK workers, found that average bonuses for ...
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More SMEs are prepared for auto-enrolment
More than a quarter (27%) of medium employers have drawn up pensions auto-enrolment plans and started to act on them, compared to 13% in autumn 2012, according to research by The Pensions Regulator.Its Employers’ awareness, understanding and activity relating to auto-enrolment research, which questioned 639 employers that are due to ...
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Consultation launched on longevity risk
The Bank of International Settlements has launched a consultation on the longevity risk transfer (LRT) market.The consultation, Longevity risk transfer markets: market structure, growth drivers and impediments and potential risks, said that longevity risk, the risk of paying out pensions and annuities for longer than anticipated, is significant when measured ...
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ArticleEmployers should prepare early for auto-enrolment
Employers that have yet to auto-enrol staff should start planning as early as possible.More than half (55%) of respondents to the Employee Benefits/Capita Pensions Research 2013 that have already auto-enrolled staff said this would be their top tip for employers that have yet to comply with the reforms.A further 20% ...
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Serco staff to strike over pay and conditions
Serco employees, who are former members of the Gurkha Regiment, have voted for industrial action over cuts to their pay and conditions.More than 100 members of the union GMB voted in an official ballot to take strike action.The 100 employees are part of a contract, won by Serco in January ...
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EU bonus cap will cause talent exodus
More than nine in 10 (93%) respondents expressed concern about losing talented staff to international opportunities as a result of the EU bankers’ bonus cap, according to research by Robert Half Financial Services.Its research, which surveyed 100 UK executives at financial services firms, found that 38% are ‘very concerned’ and ...
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Aon Hewitt appoints Mark Bloodworth
Aon Hewitt has appointed Mark Bloodworth (pictured) area director for Leeds in its benefits solutions team.Bloodworth has 25 years’ experience in the insurance sector, specialising in aligning employers’ business objectives with their benefits strategy.He was previously a client partner at Capita Employee Benefits, where he led the organisation’s pensions auto-enrolment ...
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ArticleGPP top choice for pension auto-enrolment
Almost two-thirds (63%) of respondents that still need to auto-enrol staff will use a group personal pension (GPP) as their primary scheme for auto-enrolment, according to the Employee Benefits/Capita Pensions Research 2013.The research, which surveyed 370 HR and benefits managers, also found that more than a third (33%) of respondents ...
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Biochemical Society to host onsite massages for staff
EXCLUSIVE: The Biochemical Society will host an onsite massage day for its 70 employees at the end of September.The employer-paid benefit, which is provided by On Site Massage, is offered to employees four times a year. It was launched more than 10 years ago with Indian head massages, while acupressure ...
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Xactly to partner SAP for incentive compensation product
Xactly Corporation is to partner SAP to launch an integrated incentive compensation management product.The Xactly Incent, a cloud-based incentive compensation management product, will be integrated with SAP’s Cloud for Customer products, which include desktop and mobile products for sales staff.The integrated product aims to help employers maximise their sales effectiveness ...
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Who let the dogs in?
Something for the weekend…What do Pluto, Gnasher, Lassie and Scooby-Doo all have in common? They are all workplace productivity boosters.According to employment services organisation Parasol, our four-legged friends can have a positive impact on an employee’s work.The pooch-loving employer enjoyed its best day of results in four years when bosses ...
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DOD’s blog: Am I really that out of date?
I am a bit of a fan of the Lucy Kellaway problem column in the Financial Times, but this Wednesday’s one really threw me.Her view was that using an out-of-office autoreply for your emails while away on holiday was “so 1990s”. These days, she explained, you should check your work ...
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BBC journalists receive £800 pay rise
BBC journalists received an £800 pay rise on 1 August after settling a pay dispute.The dispute was resolved after BBC management agreed to a 1% increase on the level of minimum pay grades or an £800 increase for journalists, whichever was higher.A BBC spokesperson said: “We are pleased to have ...
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Cobham enters bulk-annuity contract for DB pension
Aerospace and defence organisation Cobham has entered into a bulk-annuity transaction for its defined benefit (DB) pension scheme.The transaction, with insurer Rothesay Life, covers £280 million of pension liabilities.The policy, which is being held as an investment by the trustees, gives the organisation a secure, low-risk asset with additional protections, ...
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ArticleAverage weekly earnings up by 1.1%
Average weekly earnings, excluding bonuses, rose by 1.1% between April and June 2013, according to the Office for National Statistics (ONS).Its Labour market statistics, August 2013 revealed that, in cash terms, average weekly earnings, excluding bonus payments and before tax, were £447 in June 2013, up from £443 in June ...
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Pg 14/15: Interactive page: The month in numbers
25% of employers have a comprehensive approach to Christmas incentive programmes (p31).16% of employers now offer financial education to all staff as a core benefit (p42).£180 was the average price paid for a health cash plan in 2012 (p65).
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Pg 14/15: Interactive page: Most talked-about news
Birmingham City Council employees have made savings of £187,000 through the authority’s online employee discounts scheme. The programme, introduced in November 2011, is used by 8,300 of the council’s 48,000 staff.£187,000 sounds great, but that works out to just over £22.50 for each employee actually using the scheme, or less ...
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ArticleEmployers use pension provider to communicate
In the Employee Benefits/Capita Pensions Research 2013, 78% of respondents said they rely on their pension provider to communicate their pension scheme to employees with an annual, paper-based statement sent by post.The research, which was conducted among 370 HR and benefits managers, found that interactive communication is the second most ...
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NHS Trust hosts benefits and wellbeing fairs
York Teaching Hospital NHS Foundation Trust has hosted a series of benefits and wellbeing fairs for employees at two of its hospitals.More than 1,000 employees attended the first fair at York Hospital in June and 400 employees attended the second fair at Scarborough Hospital in July.Benefits featured at the fairs ...