All Article articles – Page 742
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BITC relaunches staff volunteering day
Business in the Community (BITC) has launched its 2013 Give and Gain Day, the UK’s national day of employee volunteering.Give and Gain Day will be held on 17 May 2013.So far, more than 60,000 employees across 31 countries have participated in Give and Gain Day, which was first introduced in ...
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DOD’s blog: my week in benefits
This week has seen a raft of government announcements affecting benefits and pay, as well as guidance from the likes of the Financial Services Authority and Office of Fair Trading.There are more such tomes in the pipeline (oh joy!) affecting everything from pensions, share schemes and incentives to the long-term ...
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Long-service awards fit for a Queen
Long-service awards are nearly always welcomed by employees and are a nice way for employers to show their appreciation for staff loyalty.Most often these gifts come in the form of gift vouchers or perhaps a watch, so there are few employees who would expect a llama waiting for them after ...
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Goldman Sachs’ pay and benefits spend up 6%
Goldman Sachs’ 2012 spend on compensation and benefits for its 32,400 global employees is 6% higher than in 2011.The investment bank’s 2012 Annual and fourth quarter results found that its compensation and benefits expenses, including salaries, discretionary compensation, equity awards and benefits, stood at $12.94 billion (£8.1 billion) in 2012, ...
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FSA publishes incentive guidance
The Financial Services Authority (FSA) has published final guidance to help financial organisations, such as banks, building societies, insurers and investment firms, avoid mis-selling due to incentive schemes.This includes guidance on managing the risks and governance of incentive schemes, as well as guidance on the features of incentive schemes that ...
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Fire Brigade raises money through bikes for work
London Fire Brigade has raised £6,400 for The Fire Fighters Charity through its bikes-for-work scheme.Its provider Cycle Solutions made a donation to the charity based on the number of bikes ordered. Since the scheme was launched in July 2012, 900 bikes have been ordered.The scheme will be re-launched in February ...
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Goldman Sachs will not delay bonuses
Goldman Sachs will pay deferred bonuses to its UK employees before April 2013.The bank had been considering giving staff deferred bonuses from 2009, 2010 and 2011 in the form of shares after April 2013 when the top rate of tax will be lowered from 50% to 45%.Its board met on ...
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Chaucer hosts wellness week
EXCLUSIVE: Lloyds of London insurer Chaucer has launched a wellness week as part of its employee engagement strategy for 2013.The five-day event, which started on 14 January, is being run for 700 employees across the organisation’s Kent and London offices.Healthy breakfasts are on offer in staff cafeteria as well as ...
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Police recruits face pay cut
Police reforms set forth by home secretary Theresa May will see pay for police recruits reduced from £22,000 to £19,000.The reforms are part of the government’s response to the Police Arbitration Tribunal’s findings on the recommendations in Tom Winsor’s Independent review of police officer and staff remuneration and conditions.May submitted ...
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Private sector staff believe pay should reflect performance
Just one in three public sector respondents think their salary should reflect their individual performance, compared to more than half of private sector respondents, according to research by the Chartered Institute of Personnel and Development (CIPD).Its annual research, Employee attitudes to pay, which surveyed more than 3,000 employees, found that, ...
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Gove confirms performance-related pay for teachers
Education minister Michael Gove has confirmed the implementation of performance-related pay (PRP) for teachers.This follows recommendations from the School Teachers’ Review Body (STRB), which were published in February 2012 and called on the government to link teachers’ pay more closely to their performance.In May 2012, Gove submitted evidence to the ...
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Poor communication can impact engagement
Poor internal communication is most detrimental to employee engagement, according to research by Jelf Employee Benefits.Its research, which surveyed 162 employers, found that 30% said internal communication was most detrimental to engagement, while 27% felt poor pay and benefits packages have a negative impact on employee engagement.It also found that ...
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Ambulance Service to pay one-off bonus
London Ambulance Services is offering a one-off bonus of £250 to control-room staff to encourage them to manage lower priority calls more appropriately by directing callers to a different service, such as a GP or NHS Direct.In 2012, more than 200,000 of the 1.6 million calls received by the service ...
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Jelf appoints auto-enrolment consultant
Jelf Employee Benefits has appointed Caroline Burnham auto-enrolment consultant.Burnham will project manage employers in the run up to their staging date and ensure employers are prepared for their new duties.She will also be the lead on the development and implementation of the organisation’s auto-enrolment software, AE Manager.Alan Milward, corporate benefits ...
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New flat rate state pension is announced
This afternoon the government announced plans to introduce a new flat-rate state pension.The new state pension will come into effect from 2017 as part of a reform package to be announced to Parliament today.At today’s prices it will be worth around £144 a week and will only be paid to ...
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Link exec pay to non-financial measures
British companies should link at least half of top executives’ performance-related pay to broad measures of success in order to avoid the risk of business decline, according to a report by the High Pay Centre.Its Paid to perform? report found that firms are failing to link important areas of non-financial ...
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Exec pay increases remain steady
Executive pay rises have started to align with levels for other employees, according to research by Towers Watson.Findings from its Executive pay pulse survey and 2012 UK top executive survey, which gathered data from 150 large listed companies at the end of 2012, found that base pay increases for executives ...
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Jelf appoints Wayne Pontin executive director
Jelf has appointed Wayne Pontin as executive director, mergers and acquisitions.Pontin, who is also currently chairman of the Association of Medical Insurance Intermediaries (AMII), was previously sales director for Jelf Employee Benefits.Pontin’s experience in the health insurance market will help him in his new role in identifying opportunities for growth.Alex ...
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International Reward report (February 2013)
Employee Benefits’ International reward supplement rounds up the latest trends in international reward markets and considers the future shape of employers’ benefits take-up.The report (download pdf) covers:Teresa Rogers: Local support is the keyPensions provision around the globeKBC banks on three-fund strategyGabriel Bernardino: Pan-European savingsGlobal reward needs local balanceInternational PMI must ...
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Providers agree to disclose pension charges
The Association of British Insurers (ABI) has announced an agreement to ensure the consistent and straightforward disclosure of pension charges and costs to employees in workplace pension schemes.The agreement will be implemented by the summer of 2014 for schemes that arenewly established for auto-enrolment, and for all older workplace pension ...