News – Page 174
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ArticlePay increases in financial sector failed to materialise
Large increases in base salary among executives and employees in the financial services sector have failed to materialise, according to research by Mercer.Its Global financial services executive compensation snapshot survey found that projected base salary increases for 2015 remain modest, running on average between 2.3% to 3.2%. According to the ...
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ArticleITV staff to ballot for strike action over pay
Employees at ITV have rejected the organisation’s 2% pay increase offer for 2015 and will move to ballot for strike action.The broadcasting organisation made the one-year pay increase of 2% effective from 1 January.Employees that are members of the National Union of Journalists (NUJ), the Broadcasting, Entertainment, Cinematograph and Theatre ...
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ArticleBP freezes pay globally for 2015
BP has frozen pay for its nearly 84,000 employees globally for 2015. It made the decision in response to changes to simplify and increase efficiency throughout BP.It is also in response to its market environment, which has seen a significant fall in oil prices.The pay freeze will have some exceptions ...
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ArticleRefresco Gerber staff strike over pay
Employees at Refresco Gerber are to hold eleven 36-hour strikes over a 10-week period due to the organisation’s plans to cut pay and change staff terms and conditions. The proposed changes at the juice maker, which produces supermarket own brand products for Waitrose, Asda and Tesco and works with brands ...
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ArticleNon-executive directors' pay rises 7%
Non-executive directors in the UK’s largest organisations have seen a move towards annual pay increases of 7% in 2014, according to research by PricewaterhouseCoopers (PWC) annual non-executive director report.Its annual Non-executive director fees report found that non-executive directors saw a rise in base pay to £65,000 in 2014, up from ...
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ArticleUniversity of Oxford seeks living wage accreditation
The University of Oxford plans to become a living wage employer after seeking accreditation. It already pays central university staff the living wage.Accreditation will mean the organisation will extend the living wage to all employees, including its contractors.The UK living wage currently stands at £7.85 an hour.Once accredited, the University ...
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ArticleYorkshire Water to pay living wage
Yorkshire Water has been accredited as a living wage employer.The water supply and treatment utility organisation, together with its parent company Kelda Group, have committed to pay the UK living wage of £7.85 to employees, including third-party contractors, rather than the national minimum wage of £6.50 an hour.Richard Flint, chief ...
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ArticleJohn Lewis Partnership faces £12m holiday pay cost
John Lewis Partnership faces a £12 million annual cost for additional holiday pay as a result of efforts to comply with an Employment Appeal Tribunal ruling on 4 November 2014 that changed the way that UK legislation is applied in relation to holiday pay.The sum includes pension, bonus and national ...
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ArticleGoldman Sachs paid bankers £245,500 in 2014
Goldman Sachs paid its bankers an average of $373,265 (£245,500) in 2014. The bank set aside $12.69 billion (£8.35 billion) to pay 34,000 employees’ compensation and benefits packages, which include salaries, discretionary compensation, equity awards and benefits.This amount was lower than the sum paid in 2012 but higher than that ...
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ArticleH&M, Welcome Break and Kings Group fail to pay minimum wage
H&M, Kings Group and Welcome Break are among 37 employers that failed to pay some employees the national minimum wage, according to business minister Jo Swinson.Between them, the 37 named employers owe their workers over £177,000 in arrears and have been charged financial penalties totaling over £51,000.The government has already ...
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ArticleABP Food Group cuts costs by revamping HR and pay systems
ABP Food Group has achieved annual cost savings of £150,000 by centralising its HR and payroll processes as part of its compliance with pensions auto-enrolment.The beef processing firm implemented a new system, provided by Advanced Business Solutions.ABP’s previous infrastructure was no longer suitable because all of its 16 sites used ...
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ArticleUK moves up European pay league
The UK has improved its position in the European pay league in the last 12 months, according to research by consultancy Towers Watson.Its Global 50 remuneration planning report found that base salaries for professional staff in the UK at both entry and middle-manager level are now ranked thirteenth and seventh, ...
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ArticleDomestic and General launches global reward scheme
Domestic and General has launched an international reward and recognition programme for more than 2,500 employees.The warranty provider has introduced its expectmore recognition programme, which is provided by Red Letter Days for Business, to support the delivery of its benefits.It will be available to employees across its international business in ...
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Article35% of UK organisations increased salaries in 2014
More than a third (35%) of UK organisations have increased salaries in the past 12 months, according to research by global workplace provider Regus. Its Business confidence index, which has charted fluctuations in business confidence over the past five years and surveyed 22,000 business respondents from 100 countries, found that ...
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ArticleChelsea FC to pay living wage
Chelsea Football Club has become the first Premier League team to sign up to pay the living wage.Chelsea will pay all directly-employed members of staff the living wage, currently £9.15 in London or £7.85 elsewhere in the UK, who work at the club’s football ground Stamford Bridge, its training ground ...
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Article32% of employees dislike early December payday
Almost one third (32%) of the 37% staff who receive their December pay cheque early view it as negative rather than a perk, according to research from Thinkmoney and OnePoll.The study, which questioned a nationally representative sample of 2,000 adults between 21 November and 28 November 2014, also found that ...
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ArticleSSE extends living wage commitment
SSE’s network business, SHE Transmission, has extended the organisation’s living wage contract to cover employees and contractors at engineering organisation ABB.Around 600 staff and contractors will be paid at least the living wage of £7.65 per hour and £7.85 from April 2015.This living wage contract, which is worth £460 million, ...
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ArticlePart-time female staff salaries rising faster than full-time males'
Salaries for women that work part time haven risen faster over the past 10 years than those of men that work full time, according to research by Timewise.Its analysis of Office for National Statistics’ salary data found that over 10 years part-time pay for women has risen by 38% over ...
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ArticleJaguar Land Rover strikes pay deal with staff
More than 15,000 Jaguar Land Rover employees will benefit from better pay and conditions after a deal was struck between the car manufacturer and trade union Unite. The organisation has increased its original offer of a 3% pay rise to a 4.5% pay rise plus a bonus worth £825 per ...
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ArticleEmployers should act now to manage holiday pay
The EAT ruled that overtime pay must be included in holiday pay calculations, a decision that sent shockwaves through employers, with many fearing the potential cost. The judgments were made in Bear Scotland v Fulton, which focused on whether overtime pay or shift allowances should be included in holiday pay ...