All Financial wellbeing articles – Page 11
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ArticleBank of England gives employees 4% pay rise
The Bank of England has given its more than 5,000 employees a 4% pay rise along with a 1% salary top-up deal for 2024/25 as part of its aim to retain staff in a competitive jobs market.The deal, which was intended to match inflation, was accepted by the trade union ...
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ArticleSeatfrog, Sessions and Venuescanner implement financial wellbeing support
Train tech firm Seatfrog, food brand startup Sessions and event tech startup Venuescanner have introduced new financial wellbeing support for their employees?to support them with cost-of-living pressures.Through a partnership with AI money-saving tool Nous, employees at the three firms can access an automated service that finds fair deals for energy, ...
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ArticleThe top 10 most-read articles between 1 - 7 March 2024
The top 10 most-read articles on employeebenefits.co.uk between 1 - 7 March 2024 were: Asda to raise pay for 120,000 hourly-paid store employeesCurrys increases salary for 10,000 staff and boosts minimum pay ratesTesco to increase pay above the real living wageStay up to date with the Spring Budget 2024Surrey County ...
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ArticleJohn Lewis Partnership and Co-op to increase pay
John Lewis Partnership and the Co-op are to increase their minimum pay rates for 2024.The Co-op has reaffirmed its commitment to paying the real living wage as recommended by the Living Wage Foundation, increasing its minimum hourly wage from £10.90 to £12, or from £12.25 to £13.15 in London. Team ...
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ArticleSpring Budget 2024: Government maintains fuel duty freeze for 12 months
Spring Budget 2024: The government is to maintain the current rates of fuel duty for a further 12 months to help support people with the cost of living.The measure, which was announced in the Spring Budget, will save the average car driver £50 in 2024-25 through the extension of the ...
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ArticleSpring Budget 2024: National insurance contribution (NIC) rate cut to 8%
Spring Budget 2024: The government is to cut employee national insurance contributions (NICs) by two pence, falling from 10% to 8% from 6 April.In his Spring Budget, Jeremy Hunt, Chancellor of the Exchequer, said that this will save the average worker on a salary of £35,400 around £900 a year, ...
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ArticleTesco to increase pay above the real living wage
Tesco is to increase the hourly pay for employees in stores from £11.02 to £12.02 per hour, which is above the 2024 real living wage outside London.It announced the rise after reaching an agreement with trade union Usdaw. Tesco remains one of the few supermarkets to recognise an independent trade ...
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ArticleSurrey County Council payroll error sees employees receive wrong wages
Surrey County Council has apologised to employees after an error with its £30m payroll system saw staff paid the wrong wages.Problems with its Enterprise Resource Planning system, which was introduced last June, have meant some employees including firefighters and teachers have been underpaid.Surrey County Council Trade Unions group, which brings ...
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ArticleCurrys increases salary for 10,000 staff and boosts minimum pay rates
Credit: bennphoto / Shutterstock.comRetailer Currys is increasing pay for its approximately 10,000 hourly-paid employees as part of an investment into their pay.Its store-based workers will now earn an average of £12.33 per hour, while its top-performing employees can earn on £13.95 an hour on average, with some able to earn ...
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ArticleWriters at the BBC and BBC Studios to receive 10% pay rise and increased residuals
Writers commissioned by the BBC and BBC Studios have accepted an increase in minimum fees and compensation for their work across new platforms, with immediate effect.The BBC Script Agreement for Television and Online was originally negotiated in 2017 by the Writers’ Guild of Great Britain (WGGB) and the Personal Managers’ ...
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ArticlePrivate medical and dental insurance most popular form of financial support
Employee Benefits poll: More than one-third (39%) of organisations said that private medical and dental insurance is the most popular form of employee financial support that they offer, according to a survey of Employee Benefits readers.One in 10 (11%) respondents answered that holiday purchase or sell back options was their ...
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Article61% of staff are more worried about the cost-of-living compared to a year ago
Six in 10 (61%) UK employees said they are more worried about the cost-of-living crisis compared to a year ago, according to new research by Health Shield.The employee health benefits provider surveyed 564 employees in full or part-time work and found that only 11% of respondents are less worried about ...
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ArticleAsda to raise pay for 120,000 hourly-paid store employees
Supermarket Asda has announced that its hourly-paid store employees will see an 8.4% increase in their pay effective 1 July as part of a £150 million investment.Its national rate will rise from £11.11 per hour to £12.04 and its rate for stores inside the M25 will increase from £12.28 to ...
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ArticleSuntory Beverage and Food employees accept 5.5% pay increase
Credit: Jasni / Shutterstock.comMore than 180 workers employed by Suntory Beverage and Food in Gloucestershire have accepted a 5.5% pay increase.The employees, who are members of trade union Unite, previously took part in seven days of strike action as they said the Lucozade and Ribena producer had rescinded on a ...
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Supplier articleWhy it pays to enhance employee financial resilience
We’ve released a brand-new eBook - Money Mastery: Proactive and affordable steps to enhance employee wellbeing. To gather our exclusive data, we interviewed over 2,000 UK employees and over 500 HR professionals to discover the state of employee financial wellbeing. We’ve created a holistic picture of how employers can turn ...
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ArticleEmployers more likely to publish salary ranges than specific amounts
Organisations are more likely to publish information on salary ranges than specific salaries, according to research by professional body the Chartered Institute of Personnel and Development (CIPD). Its Pay, performance and transparency 2024 report, which surveyed 832 decision-makers from the private, public and voluntary sectors, also found ...
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ArticleMarks and Spencer enhances pay and family leave policies
Credit: patat / Shutterstock.comRetailer Marks and Spencer has announced pay increases and enhancements to its maternity, paternity and adoption policies.As part of an £89 million investment, from 1 April the rate of pay for its 40,000 UK customer assistants will increase from £10.90 to £12 per hour, a 10.1% rise ...
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Supplier articleEmployee retention strategies… the trick to keeping your talent
Employee retention is an ongoing theme for employers and HR professionals, and for good reason. Recruiting fresh talent is expensive, eating into business profits. It’s more cost-effective to invest in employee retention strategies than it is to attract, onboard and train new starts. High employee turnover rates are a financial ...
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Article49% of staff changed retirement plans due to cost-of-living crisis
Almost half (49%) of working adults have changed their retirement plans because of the cost-of-living crisis, according to new research by the Pensions Management Institute.The professional body that supports and develops UK pension schemes surveyed 2,030 employees with pensions. It found that 24% of respondents have delayed their retirement, 23% ...
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ArticleLondon Underground staff accept improved pay offer
Credit: sematadesign / Shutterstock.comWorkers employed on the London Underground by Transport for London have accepted an improved pay offer following a long-running dispute over wages.The employees, who are members of trade union Unite, overwhelmingly accepted the increase, and will see their pay for the 2023 financial year rise by between ...