All Article articles – Page 784
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Standard Bank to review benefits and insurance plans
Standard Bank is reviewing its benefits plan design, the benchmarking of its benefits and the selection of its insurance plans.The bank has appointed Buck Consultants, following a tender process, to provide consulting services.It has 1,300 employees based in the UK.Read more articles on benefits reviews
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Government publishes review on employee ownership
The government has published the Nuttall Review on Employee Ownership.Employee ownership is when employees own a significant stake in the organisation they work for, sometimes termed co-owned organisations.The review, which was commissioned by deputy prime minister Nick Clegg in January 2012, summarises existing research literature on the benefits of employee ...
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UK employees received £200 million in free shares in 2011
More than £200 million was given to UK employees in free shares in 2011, according to research by IFS Proshare.The annual IFS Proshare Employee share survey, which polled 451 organisations, found that a total of 378,497 employees received on average £536.37 each in free shares during 2011. This was down ...
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45% of respondents do not expect an above inflation pay rise in 2012
Almost half (45%) of respondents do not expect to see a pay rise above inflation in 2012, according to research by NorthgateArinso.The 2012 Global pay optimism index surveyed 1,300 employees across Australia, Belgium, Canada, China, Denmark, Finland, France, Germany, India, Italy, Malaysia, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, ...
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Mercer launches real-time DB risk management system
Mercer has launched a real-time daily-funding monitoring system as part of its drive to offer more effective risk management services to defined benefit (DB) pension schemes.The Funded Status Monitor (FSM) provides employers and trustees with a daily update of their pension scheme’s asset and liability values.It allows organisations to work ...
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UK salaries show slight improvement
UK salaries for permanent and temporary staff in May 2012 were higher than the same period in 2011, according to research by recruitment consultancy Office Angels.The Mysalarychecker.com research found that permanent salaries were up 0.16% and temporary salaries were up 0.05%.It also found that salaries for permanent roles fell only ...
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DWP publishes guidance on certifying DB schemes for auto-enrolment
The Department for Work and Pensions (DWP) has published guidance on certifying defined benefit (DB) pension schemes and hybrid schemes for auto-enrolment.The guidance aims to help organisations continue to use existing schemes, rather than setting up a new one, to comply with the pension reforms.Steve Webb, minister for pensions, said: ...
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FTSE 250 pension deficit at £11 billion
The total deficit of FTSE 250 company pension schemes stood at £11 billion, as at 31 December 2011, a deterioration of £5 billion from the same time last year, according to research by JLT Pension Capital Strategies.The research found that total deficit funding in 2011 was £1.5 billion, up from ...
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Group risk supplement 2012
Employee Benefits has published a report on the latest trends and topics around group risk benefits.The report covers:What to do when rebrokingHow providers give added valueStrategies for managing long-term absenceGroup income protection versus life insurance
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EXCLUSIVE: Bwin.Party introduces international recognition programme
Bwin.Party is introducing a global recognition programme for its 2,700 employees working across three continents.The programme, provided by Corporate Rewards, enables the company's employees to recognise their colleagues with a 'thank you' and points to spend in an online reward shop.However, the structure of the online gaming organisation's business has ...
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HarperCollins offers digital device loans
EXCLUSIVE: HarperCollins has introduced a digital device loan scheme that enables employees to purchase an iPad, laptop or non-contractual mobile phone for their personal use.The scheme offers the publishing firm’s 900 UK staff an interest-free loan to buy a device, capped at a maximum spend of £500. Employees then repay ...
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EXCLUSIVE: Coutts creates framework to align job roles globally
Coutts has created a global career framework that clearly defines career levels and job roles to make its reward and pay more transparent across 12 countries.The private banking and wealth management services arm of the Royal Bank of Scotland undertook a review of its framework in conjunction with consultancy Hay ...
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FirstGroup staff take advantage of voluntary benefits scheme
EXCLUSIVE: More than 5,000 staff have registered for FirstGroup’s voluntary benefits scheme since it was launched in April.This has resulted in a spend that is approaching £500,000, as well as £32,000 worth of savings among staff taking part. The first two days after the launch saw 2,048 registrations and an ...
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The Pensions Regulator warns employers on auto-enrolment inducements
Laws prohibiting inducements around auto-enrolment came into effect on 1 July.The Pensions Regulator (TPR) has published a reminder that it will take action where it sees evidence of inducement. This includes an initial fine of up to £400, with escalating penalties of up to £10,000 a day for larger employers.Charles ...
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Corporate platforms added during benefits reviews
The most likely reason for an employer to introduce a corporate platform would be as part of an overall review of benefits, according to research by The Platforum.The Corporate platform guide, published in June, showed 27% would do so as a bolt-on to existing benefits and technology, and 24% would ...
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EXCLUSIVE: East Thames Group staff log in to online perks portal
About half of the staff at social landlord East Thames Group have registered with the new online benefits portal it launched in April.Available benefits include discounted gym membership, childcare vouchers, bikes for work, and health and wellbeing perks.East Thames Group also uses its Benefit Select portal to supply information to ...
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EXCLUSIVE: University of Lincoln staff participate in Global Corporate Challenge
The University of Lincoln has 231 staff participating in the Global Corporate Challenge, has partnered a university in Australia to track each other’s progress, and has hosted a roundtable discussion on its bikes-for-work scheme.The university has taken part in the challenge, which runs from May to September for three years, ...
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Employee Benefits Summit: Fit notes 'do not work'
Over 80% of delegates at the summit said the new system of fit notes does not work in their organisation. Just 7% said this was a great help.Employers are dissatisfied with the system, said David Frost, co-chair of Health at work: an independent review of sickness absence, during a session ...
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Employee Benefits Summit: Novartis Pharmaceuticals uses seminars to engage staff
Novartis Pharmaceuticals conducted seminars to educate staff about their benefits packages. After the seminars, employees rated their understanding of their package and its value proposition. Average rating was 4.5 out of five.In a case study presentation at the Employee Benefits Summit 2012, delegates heard how Novartis implemented a number of ...
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Spire Healthcare introduces voluntary benefits
EXCLUSIVE: Spire Healthcare is rolling out a voluntary benefits scheme to its 7,600 employees as part of efforts to raise awareness of its entire reward package.The organisation, which operates private hospitals, is rolling the scheme out on a site-by-site basis and has done so for about 2,000 staff so far.The ...