All articles by kscott – Page 154
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Article5% of FTSE 250 still provide defined benefit pensions
The total deficit of defined benefit (DB) pension schemes in FTSE 250 organisations has reached £11 billion, according to research by JLT Employee Benefits.Its FTSE 250 and their pension disclosures half-yearly report, which analyses data of annual reports for years ending on or before 31 December 2015 and published by ...
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OpinionSally Hart: What are the key factors in creating a global benefits strategy?
Consider, first of all, the desired outcome: an effective global benefits strategy provides a framework for benefit plan design in all countries of operation. It will help align practices with shared objectives, and centralising structures may bring about significant efficiencies, reducing administration and cost. The global benefits strategy should be ...
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AnalysisInfographic: What benefits do employees want around the world?
An infographic showing how much of an organisation's reward budget is being allocated to which benefit offering (Source: Willis Towers Watson's Global benefits attitudes survey, January 2016).Read more in: How to construct a market-leading global benefits strategy
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ArticleUberEats drivers protest over pay
UberEats drivers are protesting today (Friday 26 August 2016) in a bid to be paid the London living wage rather than per delivery.Currently, drivers earn £3.30 per delivery during off-peak times, plus a mileage payment covering the distance between the restaurant where food is collected and the drop location. During ...
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ArticleEXCLUSIVE: 36% have not reviewed core benefits in the last two years
Just over a third (36%) of respondents have not reviewed their core benefits offering in the last two years, according to research by Hargreaves Lansdown.Its study of 350 employers also found that only 13% of organisations that provide flexible benefits do not operate salary sacrifice arrangements, or if they do, ...
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ArticleBrits receive just under 9% of salary for week’s statutory sick pay
British employees receive just 8.68% of their salary in statutory sick pay when they have to take a week off work due to illness, which equates to £35.96 based on the UK's average salary of £21,552, according to research by Vouchercloud.Its How sick leave varies across Europe report shows Switzerland ...
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OpinionJill Clucas: How Brexit could affect pension schemes
Funding levels in defined benefit (DB) occupational pension schemes have caused immediate concern, with falling gilt yields increasing deficits significantly. Employers with open DB schemes may consider the Brexit vote the trigger to replace DB accrual with a defined contribution (DC) arrangement for the future.Also important is the financial strength, ...
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ArticleEmployee builds plane to travel to work
Something for the weekend: For most employees, a 15-minute drive sounds like a dream commute for a simple 10-mile journey. However Czech locksmith Frantisek Hadrava fancied a more high-flying mode of transport to get to work, opting to build his own plane instead.The ultra-light Vampira plane, which took two years ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on www.employeebenefits.co.uk between 18 and 24 August 2016 are: 63% of employers say managing employee stress and mental health is top priorityEXCLUSIVE: Centrica launches triage service to combat absenceCalvin Harris tops charts for highest earningsEXCLUSIVE: 74% offer salary sacrifice pension arrangementsAverage gender pay gap ...
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ArticleDentsu Aegis Network enhances shared parental pay
Dentsu Aegis Network has launched enhanced shared parental pay for working parents.The new policy, which is available for all UK staff following a qualifying period, mirrors the advertising organisation’s current maternity and adoption leave offerings, entitling co-parents, regardless of gender, to take up to 20 weeks of paid leave. It ...
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ArticleQantas awards bonus to employees to recognise record results
Australian airline Qantas is to award its 25,000 employees a bonus to celebrate the organisation achieving record results in the past financial year.Its record results bonus will see full-time employees receive a $3,000 bonus (approximately £1,730.71) each, while part-time staff are due to receive $2,500 (approximately £1,442.26) each.Combined with a ...
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Article36% offer global parental leave policy
Just over one-third (36%) of respondents worldwide have a global parental leave policy covering multiple types of leave, according to research by Mercer.Its Global parental leave report, which surveyed 1,200 organisations globally, of which 112 are based in the UK, also found that 64% of respondents provide maternity leave for ...
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ArticleEXCLUSIVE: Centrica launches triage service to combat absence
Centrica has introduced a triage service for employees as part of its move to a centralised approach to health and wellbeing.Its My Health phone service, which launched on 15 August, enables employees to go through a triage process in order to access the most appropriate medical pathway to treat the ...
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ArticleGSK, APL Health and Prospectus give staff time off to attend cervical screenings
APL Health, GSK Uk Pharmaceuticals, Middlesborough Council, Pelican Healthcare and Prospectus are among the employers that have joined a campaign to allow female staff off time during the working day to attend cervical screenings.The Time to Test campaign, run by UK charity Jo’s Cervical Cancer Trust, encourages organisations to allow ...
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Article82% cite making an error at work as top cause of stress
Employees' stress levels in the workplace and how they react to causes of stress may be dependent on individuals' personality types, according to research by Deloitte.Its Business Chemistry stress study, which surveyed 23,000 professionals, found that the majority (82%) of respondents said that making an error at work was the ...
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ArticleGovernment consults on gender pay gap reporting in the public sector
The government has launched a consultation to public sector organisations on gender pay gap reporting in the public sector.The consultation, which began on 18 August 2016 and will close on 30 September 2016, sets out how the government intends to bring in the reporting requirements for public sector organisations; how ...
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ArticleIbstock consults on closing defined benefit pension scheme to future accrual
Brick manufacturer Ibstock is consulting staff on a proposal to close its defined benefit (DB) pension scheme to future accrual for all active members.The consultation process, which began last week, will liaise with approximately 40% of the organisation’s UK employees, lasting for a minimum period of 60 days.According to Ibstock's ...
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ArticleAverage gender pay gap falls to 18%
On average, women receive 18% less pay per hour than men, according to research by the Institute of Fiscal Studies (IFS).Its research also found that this is a decrease from the 23% gap in hourly wages identified in 2003 and the 28% gap in 1993. However, this fall can only ...
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Article60% who have used pensions freedoms unsure how to fund future care
Less than two-thirds (60%) of respondents who have accessed their pension since the pension freedoms were introduced in April 2015 have not thought about how they will pay for future care needs, according to research by Citizens Advice.Its survey, which polled 501 British adults aged 55 or over who have ...
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ArticleTop tips on using share schemes to engage staff with business performance
Need to know:Employee share schemes can give staff a sense of ownership and increase interest in business performance.Interest in an organisation’s wider goals and performance can have a knock-on effect on individual engagement levels.To harness these benefits, staff must first engage employees with share schemes themselves.Share schemes may not always ...