All Financial wellbeing articles – Page 59
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ArticleTayto Group gives staff pay rise
Snack manufacturer Tayto Group has awarded its 450 members of staff a pay rise to help them and their families keep up with the cost of living.Trade union GMB said the pay increase will be awarded to staff immediately and is "in line with" the current inflation rate.The Office for ...
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ArticleLiving wage would help mental health of 63% of low paid staff
More than six in 10 low-paid workers believe receiving the real living wage would improve their mental health, research has revealed.The poll of 1,702 adults in full-time employment but earning less than the real living wage, carried out by the Living Wage Foundation and market research agency Survation, also found ...
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ArticleTalbots Law becomes living wage employer
Talbots Law has become an accredited living wage employer, committing to pay its staff in line with rates set by the Living Wage Foundation.The law firm, which became an employed owned trust last year and employs 324 people across seven offices in the west Midlands, joins around 9,000 UK businesses ...
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Article66% of workers unaware of total pension savings
Two-thirds of workers do not know how much money they have saved towards retirement, research has revealed.Of 500 people surveyed by online pension provider PensionBee, 66% said they were unaware of the total value of their pension pots.The research found that PensionBee’s working customers over the age of 40 have ...
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ArticleThe top 10 most-read articles between 28 January – 3 February 2022
The top 10 most-read stories on employeebenefits.co.uk between 28 January and 3 February 2022 were: University staff plan strikes over pensions and payDeloitte introduces flexible public holidays Pimlico Plumbers loses holiday pay appeal 347,000 more staff used an EAP in 2021What support can employers offer for staff going through gender ...
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ArticleUK banks pay men 34% more per hour than women
Men are paid on average 34% more per hour than women across the UK banking sector, research has revealed.Loan provider Tic Finance used the most recent gender pay gap reports published on the official government website by 49 UK banks and building societies to analyse the extent of the gender ...
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ArticleHalf of 2022 pay awards worth at least 3%
Employee pay rises have typically been worth about 3% in 2022, up from a median of 2% last year, according to fresh data.Incomes Data Research (IDR) analysed 57 pay deals already agreed for 2022 and found that around half of reviews had concluded to give employees an increase of 3 ...
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Case StudiesHays structures benefits provision to meet employee need
Hays keeps its benefits portfolio under constant review, with an extra focus throughout the year on finessing the offering ahead of the annual opening of the recruiter’s benefits portal every November.When she first joined the organisation, group head of reward Rosemary Lemon spent some time organising its employee benefits into ...
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ArticleThree UK gives pay rise to retail staff
Phone network provider Three UK has announced pay increases of up to 12.6% for its retail staff.The firm, which has about 2,500 store workers, said it had boosted their minimum hourly rates to £10.13 nationwide and £11.40 in London from 1 January this year.Applicable to all staff regardless of their ...
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ArticleHigher pay rises could lead to £142k gender pensions gap
Higher pay rises for men than women could result in a gender pensions gap of £142,603, according to new findings.Research commissioned by investment solutions firm Fidelity International revealed that men typically receive £733 more than women when their salary is increased.Fidelity's modelling showed that a 25-year-old man on an average ...
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ArticleDWP publishes pensions dashboards consultation
The government has published a key document in the creation of a single portal for people to manage their retirement income.The Department for Work and Pensions (DWP) launched a consultation titled Pensions dashboards: consultation on the draft pensions dashboards regulations 2022.According to the DWP, this represents a “significant” step towards ...
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Article19% pay rise for 200 Carntyne Transport staff
Workers employed by Glasgow-based logistics firm Carntyne Transport have won a 19% pay rise.Around 200 cask handlers and drivers of heavy goods vehicles (HGV), forklifts and shunters will receive the basic hourly pay increase from £12.60 to £15 following negotiations by the Unite Scotland trade union.There will also be a ...
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ArticleCo-op shop floor staff progress equal pay claims
Co-op has agreed that its shop floor workers can compare their roles to that of their colleagues in distribution centres for the purposes of assessing equal pay claims.More than 1,600 people represented by law firm Leigh Day have brought equal pay claims against the supermarket, arguing that their work is ...
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Supplier article4 GREAT EXAMPLES OF EMPLOYEE INCENTIVE IDEAS
Did you know that incentives, when used correctly, make workers feel valued? In fact, a study by a UK recruitment firm found that 85% of surveyed employees felt motivated to perform better when they were incentivised with rewards. If you’re thinking about an incentive programme, it should ...
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Article347,000 more staff used an EAP in 2021
Soaring numbers of UK workers looked for support from an employee assistance programme (EAP) last year, research has revealed.The Employee Assistance Professionals Association (EAPA) found that 347,000 more employees used an EAP in October 2021 than they did a year earlier.Its data is based on evidence from information provided by ...
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ArticleUniversity staff plan strikes over pensions and pay
More than 50,000 university employees are to take part in further strike action over pensions, pay and working conditions next month, according to a trade union.The University and College Union (UCU) said that unless an agreement could be reached in forthcoming talks, staff at 44 further education institutions would take ...
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ArticleUK DC pension schemes down 40% in a decade
The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown.The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011.It also showed a 2% drop in the number ...
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ArticlePension advisers want dashboard roll out prioritised
Addressing climate change and rolling out the pensions dashboard are the biggest priorities for workplace pension scheme advisers this year, research has revealed.The Society of Pension Professionals (SPP) asked its members where they wanted the government and regulators to focus attention over both the next 12 months and the next ...
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Case StudiesThe benefits offered by Together Housing Group
The benefits offered by Together Housing Group:PensionLocal government pension schemes (LGPS) with varying employer contribution levels.Defined benefit (DB) scheme.Defined contribution (DC) salary sacrifice scheme with 3% or 5% employee contribution matched by 6% or10% employer contribution.Additional voluntary contributions (AVC’s) for LGPS offered on salary exchange basis.Healthcare and wellbeingLife assurance at ...
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ArticleSerco-employed hospital staff to strike over pay
Hundreds of hospital porters, cleaners and catering staff employed by outsourcing business Serco are to go on strike in a dispute over pay.Members of the union Unite who work at London hospitals St Bartholomew's, the Royal London and Whipps Cross will walk out for two weeks from Monday 31 January, ...