All Article articles – Page 820
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Permanent staff salaries rise marginally in January
Permanent staff salaries rose only marginally in January while hourly rates of pay for temporary or contract workers increased modestly following a slight decline in December, according to research by the Recruitment and Employment Confederation and KPMG.The Report on jobs research found that, where an increase in permanent salaries was ...
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Corporate Adviser Awards crown winners
Bluefin, Bupa, Jelf Employee Benefits and Thomsons Online Benefits were among the winners at the Corporate Adviser Awards 2012.Employee Benefits’ sister publication held its annual award ceremony on 8 February at the Grosvenor House Hotel in London.The winners were: Pension adviser of the year – Bluefin Best healthcare provider – ...
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Thomson Reuters staff accept pay offer and call off strikes
Thomson Reuters employees have called off a planned 48-hour strike after voting to accept an enhanced pay deal.The journalists, who are members of the National Union of Journalists (NUJ), have agreed to a 3% pay increase, which includes a minimum pay rise of 2.5% and an additional 0.5% available for ...
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Virgin Rail considering £500 Olympics bonus for staff
Virgin Rail is considering making a £500 flat-rate payment to each of its employees for additional pressures on services during the Olympic and Paralympic Games.Its offer has been made to the unions, including the National Union of Rail, Maritime and Transport Workers (RMT), but have not reached a conclusion.The pay ...
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IPSA to consult on raising MPs’ pension contributions and freezing pay
MPs will have to pay more into their pension schemes and will see their pay frozen for a year under recommendations by the Independent Parliamentary Standards Authority (IPSA).MPs will continue to earn £65,738 a year until 2013, and the IPSA will consult on a 1% increase in the years 2013/14 ...
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Employers’ negotiating skills could prevent a cut in pension income
Employers’ negotiations could counteract poor pension choices, increasing an employee’s retirement income by 17%, according to research by the National Association of Pension Funds (NAPF) and the Pensions Policy Institute (PPI).The report looked at how decisions made by employees could affect the pension of an average earner due to retire ...
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UBS to pay £207m in long-term bonus awards after cutting bonus pool in 2011
Swiss bank UBS is to pay £207 million (SFr300 million) in long-term bonus awards to retain senior employees in its investment banking division after cutting its bonus pool by 40% in 2011.The ‘special plan’ awards, which were disclosed in UBS’ Fourth quarter 2011 results, will be share-based and must be ...
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HMRC introduces new powers to tackle PAYE dodgers
HM Revenue and Customs (HMRC) has been given the power to tackle employers that try to dodge paying pay-as-you-earn (PAYE) or national insurance contributions (NICs).From 6 April 2012, HMRC can ask employers to pay a security – a cash deposit or a bond from an approved financial institution – if ...
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One-third of respondents to increase value of benefits package in 2012
Over one-third (41%) of employers surveyed about their current benefits package expect to increase its value in 2012, according to research by industry body Group Risk Development (Grid).In the past 12 months, only 16% of employers added to the value of their benefits package.The research found that the average annual ...
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O2 pilots flexible working ahead of Olympics
O2 has offered its 2,500 employees based at its Slough headquarters the opportunity to participate in a flexible working pilot.The initiative is being trialed ahead of the Olympic and Paralympic Games to establish how employees can work remotely to avoid the expected operating, travel and business challenges of the event.O2 ...
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Fairsharemusic launches corporate reward and incentives division
Music download website Fairsharemusic.com has launched a corporate reward and incentives division.Fairsharemusic for Business offers gift cards and e-gifts, which employers can provide for staff through recognition schemes or benefits packages.Recipients can browse and spend their reward on chart singles and albums, as well as a back catalogue of over ...
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Financial advisers predict younger staff more likely to opt out post auto-enrolment
Half of all corporate financial advisers believe that the largest proportion of employees opting out of workplace savings schemes post auto-enrolment will be in the 35 and under age group, according to research by Aviva.In an online survey of financial advisers, Aviva found more than half of respondents think that ...
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Corporate bond yield decline fuels FTSE 350 pension deficit high
A further reduction in AA corporate bond yields prevented any significant improvement in the average deficit of FTSE 350 defined benefit (DB) pension funds in January, according to research by Mercer.Its Pensions risk survey found that average liability values of FTSE 350 company DB schemes increased from £478 billion at ...
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BAE Systems introduces payroll and HR management system
Global defence and security firm BAE Systems has introduced a payroll and HR management system for its UK employees.The system, provided by technology service organisations Logica and Oracle, is aimed at supporting BAE Systems’ workplace priorities, including employee engagement and performance, efficiency and organisational effectiveness.Haydn Clulow, HR director, transformation at ...
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Hay Group launches suite of online HR management products
Global management consultancy Hay Group has introduced a suite of online products for HR professionals and line managers to manage their HR processes.The new offering comprises reward benchmarking, pay, employee assessment and recruitment.Philip Spriet, a global director at Hay Group, said: “Post-recession, organisations are looking for a consistent, quality approach ...
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Debi O'Donovan, editor of Employee Benefits: Year of change is time to drive a hard bargain
I predict that this will be the year of driving the hard bargain. Not only is the economic malaise putting pressure on all budgets, but this year will also see commission-paid advisers trying to win as much new pensions business as possible ahead of a change in commission rules under ...
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Employers do not support staff enough to choose right annuity
Employers are not providing enough support to help staff make a decision about their annuity, according to a report by the National Association of Pension Funds (NAPF) and the Pensions Institute (PI) at Cass Business School.The Treating DC scheme members fairly in retirement report found that almost half a million ...
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EXCLUSIVE: Atos aligns non-contractual perks following acquisition
IT services company Atos has begun aligning non-contractual benefits for staff following its acquisition of Siemens’ IT Solutions and Services in July 2011.While the contractual benefits terms of its 3,500 new employees were protected under Transfer of Undertakings (Protection of Employment) (Tupe) regulations, Atos has tried to align the non-contractual ...
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EXCLUSIVE: Whitbread Group staff could receive £4.4m from sharesave
Whitbread Group’s three- and five-year sharesave schemes could result in a possible total return of £4.4 million for employees after they matured on 1 February.Just over 1,100 employees participated in the three-year scheme, while 69 took part in the five-year plan. When the three-year scheme was launched, Whitbread Group’s share ...
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EXCLUSIVE: The Body Shop splits flexible benefits into three categories
The Body Shop is to outsource its flexible benefits plan after administering it in-house for 10 years and has divided its flexible benefits into three categories – My Health, My Money and My Family – to target staff communications.Francine Smith, reward and benefits adviser at The Body Shop, said: “We ...