All articles by Nic Paton – Page 7
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AnalysisIs total reward dead?
If you read nothing else, read this…The relevance of total reward is in doubt because of continued downward pressure on pay. Employers need to focus on better use of data and evidence.Organisations should engage with staff of all generations to find out which benefits they actually want and value. Total ...
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AnalysisHow to integrate voluntary benefits into a reward strategy
If you read nothing else, read this…Voluntary benefits are becoming an increasingly valuable bolt-on for employers and popular perk for staff.Constant communication is vital.It is important to understand employees’ needs and priorities and obtain regular feedback.Back in May, Capita Employee Benefits’ Employee Insight Research argued that although, by and large, ...
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Case StudiesNorth Yorkshire County Council relaunches voluntary benefits
The platform offers lifestyle discounts, childcare vouchers, a bikes-for-work scheme, eco-friendly cars and now includes home technology, such as tablets, laptops and smart TVs.The benefits, accessed through a bespoke portal, come from a range of providers, including Computershare Voucher Services for the childcare vouchers, Cyclescheme for the bikes-for-work scheme, Tusker ...
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Article
Buyer's guide to motivation vouchers 2013
If you read nothing else, read this… The motivation voucher market continues to grow. The flexibility and versatility of vouchers appeals to employers. Employees appreciate the immediacy of the reward.Paper or electronic card-based gift vouchers have long been a cost-effective way of rewarding employees. With pay remaining under pressure, despite ...
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AnalysisTop makes and models of company cars
If you read nothing else, read this…Vauxhall, Audi, Ford and Volkswagen are among the most popular company car brands.Smaller-engined, lower CO2-emitting cars tend to be more popular for salary sacrifice-based schemes.Employers should be proactive in communicating with their workforce about their priorities.Website functionality is critical, rather than the lowest price, ...
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Case Studies
Santander fleet takes account of staff preferences
The Zenith-run scheme had 226 cars in January and this has now risen to 410, with a further 106 on order. The scheme runs alongside, but is separate from, a conventional company car scheme for high-mileage essential business users.When it comes to models, Santander offers a range of Volkswagen, Audi, ...
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Article
Buyer's guide to corporate Isas
Focus on factsWhat are corporate Isas?A corporate individual savings account (Isa) is a corporate version of an Isa that an employer can offer to employees on a collective basis, often through a payroll deduction or direct debit facility.Where can employers get more information?Read more about corporate Isas.Who are some of ...
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Analysis
Salary sacrifice company cars: Case studies
Local authority adds early termination insurance to salary sacrifice car scheme, while banking group boosts retention by consolidating car benefits for all employees†Cheshire West and Chester CouncilCheshire West and Chester Council reduced the risks associated with its salary sacrifice car scheme by insisting that participating employees take out early termination ...
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Analysis
Salary sacrifice company cars: Choosing vehicles and providers
Key choices in cars and providers Interrogate providers on car choice, discounts, support and maintenance package, and also whether they understand the organisation’s needs. Look for an adviser with a good track record in this area. Employers must decide whether to put a cap on emissions before choosing the cars ...
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Analysis
Salary sacrifice company cars: How to promote a scheme
How employers should promote salary sacrifice car schemes to staff Carry out a staff survey before implementing the scheme. Work with the leasing provider to run workshops, roadshows, events and presentations, distribute flyers, posters and leaflets. Ensure the scheme’s online portal includes comprehensive FAQs, a detailed explanation of ...
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Analysis
Salary sacrifice company cars: Understanding the risks
Key risks and solutionsRisks Early termination/employees leaving the business. Employees no longer able to sacrifice, normally because of moving to lower statutory pay because of maternity leave or long-term absence. Possible longer-term impact on pension expectations.Solutions Early-termination insurance. Passing on the cost to the employee. A contingency or buffer fund. ...
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Analysis
Salary sacrifice company cars: How to implement a scheme
Top tips for set-up Find out how much employee demand there is for the benefit. Seek specialist tax advice. Ensure the launch fits in with any other new benefits planned. Make sure the portal highlights tax breaks and explains the commitment staff are making.Employers must do a lot of groundwork ...
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Analysis
Salary sacrifice company cars: What is salary sacrifice?
The advantages of offering a salary sacrifice car scheme A tax-efficient benefit for employees and, to a lesser extent, employers, at little or no cost to the business. A useful retention, engagement and motivation tool. Employees get hassle-free access to a car they may not have been able to afford ...
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Case Studies
Case study: Santander consolidates car offering with salary sacrifice scheme
Banking giant Santander introduced a salary sacrifice car scheme to consolidate its car offering for all its 30,000 UK staff after acquiring high-street brands, such as Abbey National, Bradford and Bingley and Alliance and Leicester.The scheme was launched in October 2011 and by the end of January 2012 had a ...
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Case Studies
Case study: Cheshire West and Chester Council reduces salary sacrifice car scheme risks
Cheshire West and Chester Council reduced the risks associated with its salary sacrifice car scheme by insisting that participating employees take out early termination insurance.Debbie Thompson, reward manager at the council, says: “It is very important to make some decisions up front. If you have decided where you are coming ...
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Analysis
Salary sacrifice company cars: Building a business case
Key selling pointsSupporting employees to drive low-CO2 cars. Significant enhancement of the reward package. Ability to deliver a saving to the employer. Reduces grey fleet and associated health and safety issues. Positive recruitment and retention tool. n Typical saving of up to 35% compared with leasing and insuring a car ...
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Analysis
Salary sacrifice company cars: What are the tax breaks?
Forthcoming tax changesFrom April 2013The 5% BIK rate threshold will still apply to cars emitting 75g/km of CO2 or less, but the 10% threshold will be narrowed still further, to a maximum of 94g/km. Cars emitting 95g/km upwards of CO2 will attract a BIK rate of between 11% and 35%, ...
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Analysis
Fuel-efficient cars pay off
If you read nothing else, read this... Manufacturers have been investing a lot of time and energy in developing eco-friendly cars, and most now offer hybrid ranges. When considering electric cars, it is important to look at journey type and access to recharging points. Selection should be about the efficiency ...
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Article
Be clear about the facts on salary sacrifice cars
If you read nothing else, read this …Employers must ensure the wording they use when communicating salary sacrifice car schemes to staff members is not misleading.Employees need to be clear that they do not own the car, the breakdown of the calculations and what the commitment really entails.Paper and electronic ...
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Analysis
Getting staff engaged in online total reward statements
If you read nothing else, read this . . . With pay rises under pressure, total reward statements are important as a retention and motivation tool. To be fully effective, online statements must be updated regularly and linked to an organisation's wider communication strategy. Integrating statements into a reward portal ...