All articles by Jennifer Paterson – Page 31
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KPMG increases bonus pool to £73 million
KPMG has increased its employee bonus pool by 20%, from £61 million to £73 million in 2013.The professional services firm’s annual report for 2013 also showed that average partner pay has increased by 23%, from £580,000 to £713,000.Pay for the organisation’s chairman and senior partner, as recommended by the remuneration ...
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Employee Benefits Awards are industry pinnacle
John Whitaker, benefits consultant at BSkyB, explains what it means to win an Employee Benefits award.BSkyB was awarded ‘Best voluntary benefits plan’ at the Employee Benefits Awards 2013.1. What has winning an Employee Benefits’ award meant to you and to your team?This was an amazing achievement and has really rounded ...
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EBA agrees definition of identified staff for remuneration purposes
The European Banking Authority (EBA) has agreed its final draft regulatory technical standards (RTS) on criteria to identify categories of staff whose professional activities have a material impact on an institution’s risk profile.These identified staff will be subject to provisions related, in particular, to the payment of variable remuneration.The standards ...
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Gender pay gap continues to rise
The gender pay gap across Europe has increased to 10%, up from 7% two years ago, according to research by global management consultancy The Hay Group.Its Non-executive directors in Europe 2013 report, which surveyed 393 of Europe’s largest quoted companies across 12 countries, found that the median actual pay earned ...
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Two million UK employees are auto-enrolled
More than two million UK employees have started saving into a workplace pension scheme as a result of auto-enrolment, according to research by The Pensions Regulator (TPR).Its Automatic-enrolment monthly registration report 2013, a rolling report with data starting from July 2012, found that 3,670 employers have confirmed to TPR that ...
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Roffey Park launches health workshops
EXCLUSIVE: Roffey Park Institute has launched a series of half-day wellbeing workshops for its employees.The first three events, which were rolled out in September and October, were attended by around 60 of the organisation’s 80 staff.Roffey Park Institute creates programmes on leadership, organisational development, HR and coaching, so it is ...
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ArticleGender pay gap increases to 10%
The gender pay gap has risen to 10%, up from 9.5% in 2012, according to research by the Office for National Statistics (ONS).Its Annual survey of hours and earnings, 2013 provisional results, found that, for the year ending 5 April 2013, full-time earnings for men stood at £566 per week, ...
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Firefighters in further pensions strike
Firefighters across England and Wales are set to strike on 13 and 14 December over the government’s reforms to their pension scheme.The proposed changes, which were set out in the Public Service Pensions Bill 2013, include a move to career-average pension schemes, instead of final salary schemes, and a set ...
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Advocate-General rules holiday pay should include commission
Holiday pay should be calculated to include commission, according to Advocate General Bot of the Court of Justice of the European Union (CJEU).The case, Lock v British Gas Trading Ltd and ors Case C – 539/12, concerns Lock, a sales consultant for British Gas, who receives commission on a monthly ...
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Lloyds fined for failings in sales incentive plans
Lloyds Banking Group, which includes Lloyds TSB Bank, Bank of Scotland and Halifax, has been fined £28,038,800 by the Financial Conduct Authority (FCA) for serious failings in its control over sales incentive schemes.The incentive schemes rewarded the banks’ advisers through variable base salaries, individual and team bonuses, and one-off payments ...
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MPs' pay and pensions to be reformed
From 2015, MPs will receive pay linked to average earnings, as well as a pension scheme that is on a par with other parts of the public sector.The Independent Parliamentary Standards Authority (IPSA) published its decisions on reforming MPs’ pay and pensions following proposals previously announced in a consultation that ...
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Carillion Group agrees DB pension longevity swap
Support services organisation Carillion Group has entered into a longevity swap for five of its defined benefit (DB) pension schemes.The longevity swap, which covers around 9,000 pensioners and has a liability of around £1 billion, aims to hedge against the risk of rising costs as a result of the current ...
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Payroll should be responsible for pensions auto-enrolment
More than a third (39%) of respondents believe payroll departments should be primarily responsible for pensions auto-enrolment, according to research by Iris Software Group.Its research, which surveyed 100 small and medium-sized enterprises (SMEs), found that 13% of respondents felt the legislative changes should be the responsibility of payroll and HR, ...
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ArticleRelationship with colleagues most important for engagement
Employees’ relationship with their colleagues is 23% more connected to happiness at work than their relationship with their line manager, according to research by TinyPulse.Its 2013 Employee engagement survey, which analysed 40,000 responses from more than 300 organisations, found that 36% of respondents provide peer-to-peer recognition schemes.The research also found:Only ...
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London Underground drivers to receive £350 bonus
London Underground train drivers are to receive a £350 bonus payment for working on Boxing Day.Train operators have taken industrial action on Boxing Day for the past three years.Phil Hufton, chief operating officer of London Underground, said: “We have been in discussions with the relevant unions representing the train operators ...
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Showcase benefits through the Employee Benefits Awards
Lindsey Christie, benefits administrator at Admiral Group, explains what it means to be recognised with an Employee Benefits award.The organisation was awarded ‘Best pensions communications’ at the Employee Benefits Awards 2013.1. What has winning an Employee Benefits’ award meant to you? Richard [Thorne, HR department manager] and I are extremely ...
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Healthy Performance launches online health tool
EXCLUSIVE: Healthy Performance has launched an online health assessment tool for employers and employees.The tool provides employers with a live dashboard where they can see anonymous, real-time data as employees complete their health assessments.Employers are then provided with an overall wellbeing score and a health risk score for their workforce, ...
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ArticleUK staff among the lowest paid in Europe
UK employees are the lowest paid across most job levels compared to other European countries, according to research by Towers Watson.Its Global 50 remuneration planning report found that base salaries for entry-level professionals and experienced administration staff are particularly low in the UK, ranked 15 out of the top 16 ...
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Older staff healthier and fitter than younger colleagues
Many employees in their 60s are healthier and fitter than colleagues in their 30s, according to research by Pruhealth and Mercer.Britain’s healthiest company report, which surveyed nearly 10,000 UK employees, found that the average Vitality Age (or health age) of respondents in their 60s is 3.9 years older than their ...
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Regulator launches public sector pensions consultation
The Pensions Regulator (TPR) has published a consultation on a draft code of practice to help public service pension schemes meet governance and administration requirements set out in legislation.The Regulating public service pension schemes: our approach to enabling high standards of governance and administration consultation will run until 17 February ...