News – Page 178
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Pay budgets expected to increase
More than half (53%) of respondents expect their pay budgets to increase by the end of the year, according to research by the Chartered Institute of Personnel and Development (CIPD).Its Reward management survey 2013, which surveyed senior reward and benefits professionals across 444 private and public sector organisations, found that ...
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Employers plan pay freeze for graduates
Nearly three-quarters (72%) of respondents plan to freeze starting salaries for graduates over the next year, according to research by Incomes Data Services (IDS).Its annual Pay and progression for graduates 2013 report, which surveyed 93 large organisations, also found that with inflation running at 2.8%, the pay freeze equates to ...
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Simply Business integrates HR and payroll systems
Insurance broker Simply Business has integrated its HR and payroll systems following a period of growth.It will use ADP’s HR.net and Freedom systems.Simply Business has more than 200 employees based at its headquarters in London and its Northampton contact centre.Sarah Bowerman, head of people engagement at Simply Business, said: “We ...
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No bonus for Morrisons' directors
Morrisons executive directors received no annual bonus in 2012, because they failed to meet the organisation’s underlying profit before tax growth target.The supermarket chain’s Annual report 2012, also showed that Dalton Philips, chief executive of WM Morrison, saw his total remuneration cut from £1.78 million in 2011, to £1.09 million ...
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One million PAYE schemes move to RTI reporting
More than one million pay-as-you-earn (PAYE) schemes have started to use real-time information (RTI) reporting, according to the HM Revenue and Customs (HMRC).The legislation, which came in to effect from 6 April 2013, means that employers report PAYE in real time from their first pay day on, or after, that ...
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Global payroll practices need improvement
The majority (85%) of multinational organisations surveyed want improvements to their current payroll practices, yet they are sceptical about whether payroll providers can deliver a comprehensive global solution, according to research by Ernst and Young.Its Global payroll: myth or reality research, which surveyed 161 global senior payroll leaders, found that ...
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Real-time information reporting update and guidance
Ruth Owen, director general of personal tax at HMRC, said: “HMRC appreciates that some employers might be daunted by the change, but they don’t need to be. HMRC is on hand to offer help and support, and we are taking a pragmatic approach, which includes no in-year late filing penalties ...
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Trinity Mirror reduces exec bonuses
Trinity Mirror reduced the cash bonuses payable to its executive directors by 50% in 2012.The newspaper publisher’s annual report also showed that the executive directors did not wish to be considered for base salary reviews in 2013.The average salary increase for all staff across the group was 2%.The report outlined ...
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Directors' remuneration legislation updated
The government has amended the Department for Business Innovation and Skills’ (BIS) draft legislation requiring listed, but not AIM, organisations to hold binding shareholder votes on directors’ pay. The new draft also provides for a further, but non-binding, shareholder vote on the implementation of pay policy and enhanced remuneration disclosure ...
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Network Rail pays out portion of execs' L-tip
Network Rail has paid out £630,000 to four of its executive directors as a portion of their long-term incentive plan (L-tip) to reflect the organisation’s performance in the period 2009-12.Under the terms of the 2009 L-tip, the four directors qualified for a 100% payout as a result of the extensive ...
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East Cheshire NHS Trust outsources HR services
East Cheshire NHS Trust has outsourced its HR shared service centre.The trust has awarded a four-year, single-supplier contract to Arvato UK and Ireland, under which Arvato will acquire and operate the trust’s Cheshire HR Service.It will provide payroll administration, learning and development and HR consulting.The deal will enable Arvato to ...
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Employers create project teams for auto-enrolment
More than half (70%) of respondents have set up a project team for auto-enrolment, up from the 50% that had done so in 2012, according to research by the Chartered Institute of Payroll Professionals.Its second Research paper to understand business readiness for automatic enrolment, published this week, had 95 respondents ...
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Standard Life pays £12m to three executives
Standard Life has increased the remuneration levels of its top three executives for 2013 after awarding them pay and bonuses worth nearly £12 million in 2012.The life company will increase the base pay of its chief executive, David Nish, by 1.9% to £790,000, its chief financial officer, Jackie Hunt, by ...
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St Andrew’s Healthcare pilots RTI
St Andrew’s Healthcare has completed a real-time information (RTI) reporting pilot ahead of the legislation coming into effect on 6 April 2013.From this date, all employers will be legally required to report pay-as-you-earn (PAYE) in real time.The mental healthcare charity was invited by HM Revenue and Customs to participate in ...
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Lloyds Banking Group reduces bonus pool
Lloyds Banking Group reduced its bonus pool by approximately 3% to £365 million in 2012, and will not increase salaries in 2013.The group’s 2012 Annual reports and accounts showed the greater impact of this reduction was applied to senior staff, and managed in the context of business and individual performance.It ...
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Aviva cuts bonuses and pay after shareholder revolt
Aviva did not award bonuses to executive directors in 2012 and is to freeze executive directors’ base pay in 2013.In its 2012 Full year results, the insurer showed that it paid its directors £4.77 million in 2012, down from £7.28 million in 2011.This comes a year after Aviva lost a ...
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Debbie Lovewell: Running out of time on RTI
This is an issue employers have been grappling with ahead of the introduction of real-time information (RTI) reporting on 6 April, with many concerned over payroll providers’ preparedness to deal with it.A survey of HR and payroll professionals published by PricewaterhouseCoopers in February found that one in four believed their ...
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Some employees not ready for RTI deadline
But not all employers have yet made the changes needed for compliance. Ellie Gamble, associate director at Grant Thornton, said: “The preparedness of employers is widely variable.“Some have been in the pilot since day one and are saying that, after a bumpy start, they are prepared for their UK populations ...
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European politicians vote on bankers' bonus caps
The cap will limit bankers’ bonuses to one-time salary, or two-times salary if a majority of shareholders agree. There will be some leeway for long-term incentives, although the details of this are still to be agreed by the European Banking Authority.The preliminary agreement will be put to a vote on ...
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Final agreement on bankers' bonus cap
The European Parliament and European Commission have agreed to cap bankers’ bonuses.The move is intended to curb the banks’ bonus-driven culture and to prevent the risk-taking that led to the 2008 financial crisis.The new legislation will come into effect from January 2014 and will apply to bonuses paid in 2015.The ...