All Article articles – Page 727
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Pay for low-skilled workers highest in western Europe
Pay for low-skilled business functions in western Europe is more than 50% higher than their counterparts in the UK, according to research by Towers Watson.The Towers Watson General industry compensation report focused on four core business functions that are commonly moved across borders in order for organisations to take advantage ...
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Serco boosts take-up ahead of auto-enrolment
EXCLUSIVE: Serco Group has increased take-up of its stakeholder pension scheme by communicating auto-enrolment four months ahead of its staging date.The international services organisation sent letters to its 30,000 UK employees in January 2013. It has since seen a 2% rise in take-up of the scheme, in advance of the ...
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RBS to pay out £607 million in bonuses
The Royal Bank of Scotland is to pay out £607 million in variable compensation.According to the bank’s Annual Results 2012:Its total variable compensation stood at £607 million in 2012, down from £789 million in 2011.£215 million of this amount has been allocated to investment bankers, down from £360 million in ...
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HMRC warns employers about RTI
HM Revenue and Customs (HMRC) is reminding employers about real-time information (RTI) reporting, one month before the legislation takes effect on 6 April.From that date, employers will be required to move to a new way of reporting pay-as-you-earn (PAYE), doing so each time employees are paid rather than annually.HMRC suggests ...
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New occupational health report aims to improve return to work
Allied health professionals, such as physiotherapists, occupational therapists, chiropodists and podiatrists, could play a greater role in helping ill or injured employees return to work following the publication of a new assessment report.The Allied Health Professions (AHP) Advisory Fitness for Work Report, which has been developed by The Chartered Society ...
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Salaries expected to rise in 2013
Three-quarters (74%) of employer respondents are expecting to increase salaries in 2013, according to research by global management consultancy Hay Group.Its Reward in 2013 report surveyed 125 organisations, representing more than a quarter of a million UK employees.It found that 51% of respondents are expecting to increase salaries by up ...
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ICR enters into pension insurance buy-in
The Institute of Cancer Research (ICR) Pension Scheme has entered into a pension insurance buy-in to cover £30 million of liabilities for its defined benefit (DB) pension scheme.The buy-in was concluded by Pension Insurance Corporation (PIC). The trustees were advised by Punter Southall and Towers Watson.John Roberts, chair of the ...
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Towers Watson launches DB pension app
Towers Watson has launched an application (app) for iPads to help employers and trustees understand the factors that affect the size of their defined benefit (DB) pension deficits.The Funding Illustrator App allows employers and trustees to engage with the possible outcomes from actuarial valuations much earlier in the valuation process, ...
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Aviva partners CSP on workplace health campaigns
The Chartered Society of Physiotherapy (CSP) has partnered with health insurer Aviva to launch new health awareness campaigns across the UK.? ?The Fit for Work initiative will offer a programme of activity and resources designed to improve the wellbeing of the UK workforce and to highlight the importance of physiotherapy ...
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Buck Consultants launches auto-enrolment system
Buck Consultants has launched an auto-enrolment system, which is designed for small and medium-sized employers.Enrolment Pro can be integrated with employers existing systems or used as a standalone platform. It includes modules that guide employers through each stage of auto-enrolment, from auditing existing systems through to assessing ongoing governance.The modules ...
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Costain offers new HR and payroll system
Engineering organisation Costain has implemented an auto-enrolment and payroll services system.It will use Ceridian’s software-as-a-service (SAAS) suite of products to offer its 3,000 employees managed payroll, HR administration, workforce management, performance management and auto-enrolment modules, among others.Fiona Ware, HR director at Costain, said: “While a [software-as-a-service product] was identified from ...
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FTSE 100 chairmen receive 6% pay boost
FTSE 100 chairmen received a 6% average pay rise in 2012, according to research by Incomes Data Services (IDS).The report into non-executive directors’ pay found that the average fee for a non-executive chairman was £397,350 in 2012.Meanwhile average fees for chairmen ranged from £270,000 in technology organisations to £517,943 in ...
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Tackle global differences with unique strategies
EB Connect 2013: Employers must recognise that there is no one-size-fits all approach to a global reward strategy.Speaking at Employee Benefits Connect on 1 March, Caroline Jowett-Ive, group vice-president reward-human resources at Travelport (pictured), explained that the company’s reward strategy in emerging markets is closely aligned to business strategy, as ...
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Hotel group considers global framework vital
EB Connect 2013: It is vital to consider framework and processes when implementing a global reward infrastructure, said Nicos Nicolaides, director, compensation and benefits, Europe, Intercontinental Hotels Group (IHG) at Employee Benefits Connect on 1 March.Speaking at a session on what to consider when building a global reward infrastructure, he ...
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GSK considers healthcare policy for older staff
EB Connect 2013: GlaxoSmithKline (GSK) is deciding how to create a healthcare policy for older employees.The pharmaceutical business’s diversity and inclusiveness team has launched a think tank to consider possible options, according to doctor Arif Jiwany, an occupational health physician at GSK. The strategy will be formulated over the next ...
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New markets require reward compromises
EB Connect 2013: Moving into new markets, whether developing or developed, requires compromises from all parties involved, according to John Beadle, global practice leader, performance and reward at Rio Tinto.Speaking at Employee Benefits Connect 2013 on 1 March, Beadle said that while employers moving into new markets may want consistent ...
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Engagement vital for business transformation
EB Connect 2013: The key to transforming a business and achieving maximum success is to motivate and engage all employees with the organisation and its objectives, according to Kevin Gaskell, former managing director of Porsche and BMW.Speaking in the opening keynote session ‘Turbulence and recession: the perfect opportunity’ at Employee ...
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Employers change contribution structure for auto-enrolment
EB Connect 2013: Employers need to consider their pension contribution structure when complying with auto-enrolment to ensure that it is future-proof.During a panel session at Employee Benefits Connect on 1 March, pensions and benefits profiessionals from Heineken, British Airways (BA) and Marriott Hotels Europe discussed the lessons they have learned ...
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JP Morgan to launch family homecare scheme
JP Morgan is to launch a family homecare scheme, which includes up to six weeks at-home assistance in the event of an accident or unforeseen illness.The Insured Family Homecare scheme, which will go live on 1 April 2013, includes personal care, domestic help, meal preparation, and transport to and from ...
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Punter Southall launches healthcare risk management platform
Punter Southall Health and Protection Consulting has launched a risk management platform to help employers ensure their employees are covered by the life assurance and group income protection benefits they offer.For example, it will notify an employer if any of its employees exceed age limits written into their insurance policies. ...