News – Page 166
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ArticleLouise's lowdown: Starting whistle blows on gender pay gap league tables
In February 2016, the government unveiled its much anticipated draft regulations on gender pay gap reporting. Organisations with more than 250 employees will be required to publish gender pay and bonus gap data on their website, in addition to information about the number of male and female employees across pay ...
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ArticleNHS Scotland employees to receive 1% pay rise
NHS Scotland staff are to receive a pay rise of at least 1% from April 2016.The Scottish government is to implement the increase in pay after accepting independent recommendations from the NHS Pay Review Body and Doctors’ and Dentists’ Pay Review.Employees earning less than £22,000 will also receive an additional ...
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ArticleWall Street bonuses fall by 9%
The average bonus paid to employees in New York City’s security industry fell by 9% to $146,000 in 2015, according to the Office of the New York State Comptroller.Overall, Wall Street's bonus pool declined by 6% to $25 billion in 2015 as the security industry’s profits fell by nearly 11%.The ...
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ArticleCostco to increase entry level pay
Costco Wholesale Corporation is to increase entry level pay for its employees in the US and Canada to at least $13-13.50 an hour.The membership retailer, which employs some 205,000 full and part-time staff worldwide, currently pays a starting rate of $11.50-12 an hour in the US and Canada.This is the ...
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ArticleMeeting the challenge of the national living wage
Since Chancellor George Osborne announced the creation of a new national living wage in his 2015 Summer Budget, planning how to deal with the associated cost increases has challenged many organisations.When the national living wage comes into effect next month, the minimum hourly wage for employees aged over 25 will ...
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ArticleWilliam Hill to pay all employees the national living wage
William Hill is to pay all of its 12,500 employees at least the national living wage rate of £7.20 an hour.The national living wage, announced by Chancellor George Osborne in the Summer Budget 2015, is mandatory for workers aged 25 and over and will come into effect from April 2016.The ...
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ArticleBankers' bonus cap regulations will not extend to small firms
The Bank of England and Financial Conduct Authority (FCA) will not apply bonus cap rules to smaller firms.The FCA and Prudential Regulation Authority (PRA) have informed the European Banking Authority (EBA) that they will comply with all elements of the EBA Guidelines on sound remuneration policies, except for the provision ...
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ArticleLaw Society of Scotland increases trainee solicitor pay rates
Trainee solicitors in Scotland are to receive a pay rise following an increase in the Law Society of Scotland's mandatory and recommended rates of pay.From 1 April, the Law Society’s Council has agreed that only trainee contracts that pay at least the voluntary living wage rate of £8.25 an hour, ...
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Article20% to maintain pay differentials impacted by national living wage
A fifth (20%) of respondents will maintain pay differentials between employees affected by the national living wage and their managers, according to research by the Chartered Institute of Personnel and Development (CIPD) and the Resolution Foundation.The Weighing up the wage floor: employer responses to the national living wage report, which ...
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ArticleSam Bowman: How should employers position high executive pay in the current financial climate?
According to the High Pay Centre, chief executives of large firms are overpaid. They are certainly paid a lot: the average FTSE 100 director is paid £2.4m annually, and the average chief executive officer (CEO) is paid £3.3m.But does this mean they are overpaid? No. Most people agree that it’s ...
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ArticleAlex Bryson: How should employers position high executive pay in the current financial climate?
The current financial climate is characterised by great corporate uncertainty, best illustrated by high volatility in share prices, but also real wage stagnation for most and huge earnings inequality driven by those at the top. Against this backdrop the public may ask: shouldn’t firms be focusing on pay increases for ...
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ArticleStefan Stern: How should employers position high executive pay in the current financial climate?
Not everyone works for a FTSE 100 company, of course, but the biggest bosses create the most influential benchmarks. So when Tuesday 5 January came along, and High Pay Centre data showed that by the end of the day the average FTSE 100 boss would have been paid what the ...
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ArticleBritish Gas case ruling confirms that commission must be included in holiday pay calculations
The Employment Appeal Tribunal (EAT) has determined that commission payments must be included in calculations for employees' annual leave and holiday pay.In the case of Lock vs British Gas Trading Limited and others, the EAT confirmed that the working time regulations can be interpreted in line with the working time ...
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ArticleMet Office staff to strike over pay
Met Office employees are to strike on 24 February in a dispute over pay.Managers and specialists at the Met Office who are members of trade union Prospect are taking the industrial action to call for the government to give the Met Office more freedom in how it rewards and remunerates ...
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ArticleConfessions of a benefits manager: Candid battles unrealistic reward expectations
What is it about the guys in sales that makes them think they can make up their own rules?Take Geoff, one of the Higher Beings in sales. He can never stick to the plan. None of his team will receive an average pay rise; he will always argue they are ...
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ArticleTotal pay increases by 1.9%
Total pay, including bonuses, for employees in Great Britain increased by 1.9% between October-December 2014 and October-December 2015, according to research by the Office for National Statistics (ONS).Its Labour market statistics, February 2016 report also found that pay excluding bonuses increased by 2% between October-December 2014 and October-December 2015.Average regular ...
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Borough of Windsor and Maidenhead to pay staff above national living wage
The borough of Windsor and Maidenhead to pay all staff, regardless of age, above the national living wage of £7.20 an hour.From 1 April 2016, when the government is introducing its national living wage of £7.20 an hour for workers 25 and over, the borough of Windsor and Maidenhead will ...
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ArticleSouthwest Airlines to share $620 million with staff
Southwest Airlines is to give $620 million to its employees as part of its 2015 profit sharing plan.On 29 April 2016, eligible employees will receive the equivalent of eight weeks of pay or almost 16% of their eligible compensation.This is the highest total amount that the airline has ever allocated ...
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Article17% cite auto-enrolment as a limiting factor on wage growth
Around a fifth (17%) of respondents cite pensions auto-enrolment as a reason why they were unable to raise basic pay by 2% or more in 2015, according to research by the Chartered Institute of Personnel and Development (CIPD).Its quarterly Labour market outlook report, based on a survey of 1,007 HR ...
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ArticleGovernment announces draft regulations on gender pay reporting
The government has published its draft regulations on its compulsory gender pay gap reporting for organisations with 250 employees or more.Nicky Morgan, women and equalities minister, outlined the government’s plans to close the gender pay gap within a generation. The regulations include government plans to publish the pay gap by ...