All articles by Kate Donovan – Page 16
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Article
Saga staff in line for windfall if float goes ahead
Saga staff could pocket millions in a pay-out should a potential float or sale of Saga Holdings go ahead.Close Brothers has been appointed to assist the board of the financial services and leisure company, which sells products to the over-50s, in exploring its future ownership options, including the possibility of ...
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Article
Workplace absence on the rise
Employee absence increased in 2006 as employees took an average of seven days of sick, which totals 175 million working days at†a cost to the economy of £13.4bn.The Confederation of British Industry (CBI)/AXA Absence & labour turnover survey 2007 also showed that organisations which offer rehabilitation programmes and flexible working ...
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Article
Association of Consulting Actuaries proposes new pension scheme to share risk
The Association of Consulting Actuaries (ACA) has put forward a proposal for a new type pension scheme in which the risks are shared between employers and staff shared risk pension options as less volatile for staff and more cost-control effective for employers.Its proposal,which was put to the government as part ...
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Article
CBI did not back Brown's pension raid
The Confederation of British Industry (CBI) has said that it did not support Gordon Brown's 1997 decision to abolish tax relief on dividends.Richard Lambert, director-general of the CBI, told the Financial Times that Brown's decision to remove tax relief in the 1997 Budget had made, "a significant contribution to the ...
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Analysis
Make the most of failing motivation schemes
Kate Donovan questions how organisations can rectify or restructure failing motivation schemesArticle in fullPoorly-thought out gifts may not always be received with the enthusiasm the giver hoped for. Similarly, in the workplace, motivation schemes that have not been properly thought through can backfire even if implemented with the best intentions. ...
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Analysis
Tailoring voluntary benefits plans to suit staff
Tailoring voluntary benefits to suit workforce demographics is increasing in popularity, says Kate DonovanCase study: SomerfieldArticle in fullWhen it comes to voluntary benefits schemes, many employers have traditionally chosen to provide staff with as many options as possible in a bid to be seen as a top employer. This task ...
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Article
New local authority pay structures could open the way for backdated compensation claims
The deadline of the 31 March has now passed for local authorities to introduce equal pay structures on a voluntary basis in accordance with the 2004 Local Government Pay Agreement. But while some organisations may now be breathing a sigh of relief, this could be short-lived as the new pay ...
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Analysis
Pensions education can prove a difficult task
Communicating complex financial scenarios around retirement and pensions can be mired with problems, but Kate Donovan finds out from BP's Susan Hughes how to simplify messages to hook-in the widest audienceThe subject of pensions is often perceived to be as dry as the desert. So getting employees to understand the ...
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Article
Unauthorised payments overturned by Finance Bill 2007
Amendments to the Finance Bill 2007 will allow employers to reduce payments of incapacity pensions and will relax the rules around the time limits in which lump sum death benefits must be paid.The changes, which have been†published in the latest stage in the development of the Finance Act 2007, are ...
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Article
Lloyds TSB pays out GBP252m in shares and bonuses
Lloyds TSB will pay out £252m to more than 62,000 staff through the bank's free share and matching share schemes, and cash awarded under its bonus schemes.In April, £40m-worth of†shares will be paid out to employees under the group's annual free share scheme. Each staff member will receive 3% of ...
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Article
CMA CGM introduces healthcare cashplan
CMA CGM,the shipping company, has introduced a healthcare cash plan as part of its absence management policy.The Liverpool-based company's 378 employees will be able to access a telephone helpline with fully-trained counsellors to offer them advice on combating stress, on-site health screening, and dental and optical care.Liz Dowd, UK group ...
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Article
Strathclyde fire service launches bikes-for-work
Strathclyde Fire and Rescue is launching childcare vouchers and bikes-for-work for its 3,500 staff.Europe’s second largest fire authority is set to introduce childcare vouchers later this month to help employees maintain a work-life balance. Elinor Walton, human resources adviser, said: “We have sent communications out to say that childcare vouchers ...
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Article
Union will request better pay and greater recruitment to AA from Permira chief
Improved pay and the recruitment of more AA staff will be on union leaders' wish-list when they meet with Permira managing partner today.Leaders of the GMB union will today meet with Damon Buffini, Permira managing partner, in a meeting that was arranged last month while the union was heavily campaigning ...
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Article
Pension funds shift from equities to bonds and 'alternative' funds
Almost a third of pension funds (30%) have reallocated over 5% of their investment portfolio during 2006 to bonds, according to research by Aon Consulting.Its UK Employers Operating Defined Benefit Schemes survey, reveals that sponsoring employers and trustees have adopted a more diverse and risk-controlled investment strategies in the face ...
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Article
Helpline launches for stressed judges
Judges suffering from stress will be able to ring a special helpline for practical and emotional support from April.Trained personnel will be on the other end of the helpline to offer advice and support to judges at all levels. The plan is to first run the helpline as a pilot ...
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Article
Thomsons wins best corporate advisor at Money Marketing awards
Thomsons Online Benefits has won the Best Corporate Adviser category at the Money Marketing 2007 awards for the fourth time in a row.Other companies short-listed in the category were Chancery Group, Hargreaves Lansdown and PIFC Consulting. Michael Whitfield, managing director of Thomsons Online Benefits, said he was very pleased to ...
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Article
RBS staff face disciplinary action over bank accounts
Staff at the Royal Bank of Scotland (RBS) who have failed to open an account with the bank have been threatened with disciplinary action.A letter sent to staff from Gordon Pell, RBS chief executive of retail markets, warned that employees who had not opened a bank account with an RBS ...
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Article
Employers reject reduction of pension contributions in face of personal accounts
Fears that the proposed system of personal accounts will prompt employers to reduce pension contributions appear to be unfounded as just 1.2% say that they plan to do so.A further 5.1% plan to reduce employee headcount, while†2.6% plan to implement a recruitment freeze. The Employee rewards watch 2007†survey from Thomsons ...
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Case Studies
McDonald's lobbies to revise McJob definition
McDonald’s will campaign to have the dictionary definition of the term McJob revised.The Oxford English Dictionary defined a McJob as “an unstimulating, low-paid job with few prospects, especially, one created by the expansion of the service sector”. The UK arm of the fast-food chain is planning a petition to get ...
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Article
Pannone doubles value of death-in-service benefit
Law firm Pannone has doubled the value of its death-in-service benefit to ensure its package remains competitive.Its 637 employees are now all eligible to receive two-times salary, while the firm’s 43 equity partners will continue to receive a fixed amount.Rachel Dobson, a partner and HR director, said: “It’s part of ...