News – Page 108
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ArticleVolkswagen AG rewards employees with €4,950 performance-related bonus
Employees at German automotive manufacturer Volkswagen AG, who are covered by collective bargaining agreements, will receive a performance-related bonus of €3,259.50 (£2,876.47) in their May 2020 pay, taking the total amount for 2019 to €4,950 (£4368.32) gross.Volkswagen AG staff received a bonus of €1,690.50 (£1491.85) with their salary in November ...
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ArticleHow will the Spring Budget 2020 affect pay and benefits?
Chancellor of the Exchequer Rishi Sunak delivered the Spring Budget speech to the House of Commons on Wednesday 11 March 2020. Below is a summary of the key announcements that could impact pay and benefits strategies:National insurance contribution threshold to rise to £9,500 from April 2020National living wage projected to ...
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ArticleSMEs to be reimbursed for statutory sick pay during Coronavirus crisis
Budget 2020: In the 2020 Budget announcement on 11 March 2020, Chancellor of the Exchequer Rishi Sunak announced that small and medium-sized enterprises (SMEs) will be able to claim a refund for statutory sick pay paid in relation to Covid-19 (Coronavirus).As part of temporary legislation aimed at minimising the effects ...
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ArticleNational insurance contribution threshold to rise to £9,500 from April 2020
Budget 2020: Chancellor of the Exchequer Rishi Sunak announced today (11 March 2020) that the national insurance primary threshold for employees will increase to £9,500 from April 2020.The government projects that this will affect approximately 31 million people, saving a typical employee around £104 in the 2020/21 tax year. This ...
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ArticleNational living wage projected to increase to £10.50 by 2024
Budget 2020: Chancellor of the Exchequer Rishi Sunak (pictured) announced today (11 March 2020) that the UK government plans to raise the national living wage to £10.50, or two-thirds of median earnings, by 2024. For this year, Sunak announced an increase of 6.2%, to £8.72 per hour, taking effect from ...
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ArticleDay-one sick pay to apply to those self-isolating without Coronavirus symptoms
Budget 2020: Chancellor of the Exchequer Rishi Sunak has added to Prime Minister Boris Johnson's announcement that statutory sick pay will, during the Covid-19 (Coronavirus) outbreak, be available to employees from day one. In the UK budget announcement for 2020, which took place today (11 March 2020), Sunak stated that ...
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ArticleSalford-based care workers to receive £9 per hour minimum wage by October 2020
Image Credit: Manchester Evening NewsAnnounced yesterday (11 March 2020), Salford City Council will give more than 300 care employees working in the city a pay increase to at least £9 per hour from 1 October 2020; this ties in with Salford's commitment to work towards care workers receiving the full ...
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ArticleUniversity of Oxford to implement living wage and raise pay for 2,000 employees
The University of Oxford, which employs 17,000 people in total, has signed up to become an Oxford living wage employer, agreeing to give almost 2,000 employees a pay increase.From August 2020, employees will be paid a minimum of £10.21 an hour. This aligns with the university's commitment to creating an ...
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ArticleAon to merge with Willis Towers Watson in $80 billion deal
Professional services firm Aon is set to merge with risk management, insurance brokerage and advisory business Willis Towers Watson in a $30 billion (£60.8 billion) deal that aims to combine and expand complementary organisations to create a technology-enabled global platform.The transaction is expected to create more than $10 billion (£7.6 ...
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ArticleFrench court concludes Uber drivers should gain employee status
In a ruling made on 4 March 2020, France's Court of Cassation reclassified the contractual relationship between drivers and ride hailing organisation Uber, giving them the right to be seen not as self-employed workers, but employees.In the case, Uber argued that drivers remain free to decide whether to connect to ...
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ArticleWates Group overhauls family-friendly benefits for 4,000 employees
Family-owned construction organisation Wates Group has announced a complete overhaul of the family-friendly policies offered to its 4,000 employees.From 1 May 2020, the organisation will commit to making a number of significant changes including: increasing paternity and partner leave to eight weeks at full pay; increasing maternity leave to 26 ...
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ArticleMPs' basic pay to increase by 3.1% from 1 April 2020
The Independent Parliamentary Standards Authority (IPSA) has announced that basic pay for UK members of parliament (MPs) will increase by 3.1% from 1 April 2020.Announced yesterday (5 April 2020), this brings MPs' overall salary from £79,468 to £81,932. This pay increase is in line with the decision by IPSA in ...
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ArticleCushman and Wakefield reduces gender pay gap from 35.8% to 31.1%
Real estate services firm Cushman and Wakefield has reduced its gender pay gap to 31.1%, from 35.8% since 2018.The gender pay gap reporting regulations require organisations with 250 or more employees to publish the differences in mean and median hourly rates of pay for male and female full-time employees, the ...
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ArticleWilko abolishes sick pay for retail and distribution staff of less than a year
Homeware and household goods chain Wilko Retail is reducing sick pay for its retail and distribution employees; under the new policy, staff that have been at the business for less than a year will no longer be entitled to sick pay.Additionally, longstanding employees will only be entitled to sick pay ...
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ArticleDowntown Alliance calls for urban adventurer to live rent-free in New York
Something for the weekend: Non-profit business improvement organisation Downtown Alliance is on the hunt for a social influencer and urban explorer to live in and experience Lower Manhattan.In addition to a wage of $2,250 (£1,742.19) per fortnight, for many the main benefit will be the chance to live rent-free in ...
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ArticleJohn Lewis Partnership employees receive 2% profit-sharing bonus
Retail organisation John Lewis Partnership is awarding a 2% bonus to its 83,000 employees, as a result of its 2019/2020 profits.The payout, which is due to the organisation's profit-sharing scheme and was announced to employees today (5 March 2020), paid employees 3% of their salaries in 2018/19; the dip this ...
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ArticleBoris Johnson announces day-one statutory sick pay to tackle Coronavirus
Image credit: Parliament TVUK Prime Minister Boris Johnson has announced that statutory sick pay will be available from day one for those people self-isolating as a result of the outbreak of Covid-19 (Coronavirus).The change to sick pay legislation, announced on 4 March 2020, is a temporary measure to respond ...
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ArticleOnly two-fifths of employers have a multi-year gender equality strategy
Although 81% of organisation say improving diversity and inclusion is high on their agenda, only around two-fifths (42%) have documented a multi-year strategy for achieving gender equality, according to research by Mercer.The When women thrive 2020 global report, which involved 1,157 organisations, found that 64% of employers track gender representation, ...
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ArticleAssociation of Accounting Technicians reduces gender pay gap from 13.7% to 4%
The Association of Accounting Technicians (AAT) has reduced its gender pay gap from 13.7% to 4% since 2018. The AAT reported its gender pay gap for full- and part-time staff on data on 2 March 2020, in line with the government’s regulations and ahead of the submission deadline of 30 ...
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ArticlePay gap sees the average female employee work for free for two months per year
The average female employee works for free for the equivalent of two months per year due to the UK's gender pay gap, according to analysis from the Trades Union Congress (TUC).The research, released on Women's Pay Day today (4 March 2020), the date on which female employees start getting paid ...