All articles by Nicola Sullivan – Page 35
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Article
German policeman rewarded for getting dressed
Getting dressed for work presents such a challenge for some employees that they might joke they should be rewarded for it by their employers.This is no pipe dream for a German policeman who has won the right to count the time he spends getting in and out of his uniform ...
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Article
Alitalia enters into pensions buy-in deal
Italian airline Alitalia has entered into a pensions-buy in arrangement as part of efforts to stabilise its pension scheme's funding position.As part of the deal, which was advised by Barnett Waddingham, the airline's pension scheme will transfer around £53 million of assets to the Pensions Insurance Corporation to secure its ...
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Article
Hewitt Associates to merge with consulting arm of Aon Corporation
Hewitt Associates will merge with the global consultancy arm of Aon Corporation in a transaction worth around $4.9 billion.The agreement, consisting of 50% cash and 50% Aon stock, will see the creation of a new consultancy called Aon Hewitt. The Aon Corporation intends to integrate Hewitt with its existing consulting ...
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Article
BT reaches 9.3% pay deal with union
BT has reached a three-year deal worth 9.3% with the Communication Workers Union (CWU) bringing an end to a lengthy dispute over pay.The deal will see employees receive a 3% increase to base pay, which will be fully pensionable and cover pay-related allowances, each financial year from April 2010 to ...
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Article
Coal-walking laid on for employees backfires
Workplace motivation days can be great way to get staff fired up and ready for the job at hand.However, employees working for an Italian estate agency, who walked on hot coals as part of their motivation day, know that some workplace initiatives to boost morale can backfire.Nine sales people from ...
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Article
Redundancy payments can be capped in line with retirement
The Employment Appeal Tribunal (EAT) has handed down a decision on the question of whether it is unlawful age discrimination to cap contractual redundancy payments in order to prevent employees recovering more than they would have earned if they had remained in employment until retirement age.In Kraft Foods vs Hastie ...
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Article
Mercer research: Financial services firms redesign pay and bonus structures
Most financial services companies have decreased the annual cash bonus element and increased base salaries, as well as the use of deferred compensation according to research conducted by Mercer.The consultancy's Executive Incentive Plan Snapshot Survey, which analysed data from 39 financial services organisations, showed that almost all respondents had changed ...
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Article
True cost of public sector pensions is hidden
The Public Sector Pensions Commission has accused the government of drastically underestimating the cost of unfunded public sector pensions.The commission says that public sector employees need to save more than 40% of their annual salary to fund their benefits but are only putting aside 20%, meaning taxpayers are having to ...
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Article
Mercer research: Employees may have to work longer before they retire
Surging annuity prices and lack of market confidence in European economies means many employees may have to work longer than planned in order to retire on a reasonable income, according to a study conducted by Mercer.The consultancy's DC Barometer, which looks at the impact of the movement in annuity rates, ...
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Article
Civil servants' redundancy packages set to be slashed
Ministers are taking steps to cut redundancy benefits for 500,000 civil servants as part of the coalition government's efforts to cut the country's deficit.At the moment civil servants are entitled to severance payouts worth as much as six years' salary. The government wants to reduce these packages by bringing them ...
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Analysis
Shock tactics to promote pensions
If you read nothing else, read this …Employees often believe that saving for retirement is painful, and so need to be shown that there is more pain involved in not putting money aside.Any pension communications campaign has to be credible, so using famous faces to endorse it should be carefully ...
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Article
Linklaters launches stress management policy
Linklaters has introduced a stress management policy and an employee assistance programme (EAP) to support employees’ psychological welfare. The EAP, provided by Axa Icas, offers face-to-face and telephone counselling.The law firm has also set up a steering committee to ensure the stress measures are aligned with its business goals. The ...
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Article
Sterilin introduces new stakeholder pension
Sterilin is to introduce a new stakeholder pension scheme with contributions paid via salary sacrifice, after switching providers.The manufacturer of equipment for the life sciences industry has changed provider from Prudential to Johnson Fleming. As before, the employer pension contribution will be 7.5%, with a minimum of 4% put in ...
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Article
Serco introduces pay grade structure for senior staff
Serco has overhauled the remuneration package for its senior staff after analysing the job roles of 500 employees and establishing a framework for a pay grading structure.The business services firm is currently setting pay grades after ranking job roles using a points-based system. A tool, developed in-house, was used to ...
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Analysis
Group risk: Rising to meet the new challenges
The group risk market is having to adapt to changing circumstances, says Andrew Tripp, chairman of the Association of Medical Insurance Intermediaries. Nicola Sullivan reportsThe traditionally rather staid group risk market is currently facing a number of challenges. For example, a softening on premiums has made the market more competitive ...
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Case Studies
Case Study: Sony Pictures Entertainment
In May 2009, Sony Pictures Entertainment put its pension and other benefits under the spotlight by launching a communications campaign designed to tie in with its film release Angels and Demons.As part of the strategy, created in conjunction with Buck Consultants, the firm's 400 staff were sent on a quest ...
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Article
News analysis: The Osborne Budget effect
Pay, pensions and tax were among the topics of concern to employers and employees in the Chancellor’s emergency Budget. Nicola Sullivan reportsChancellor George Osborne’s emergency Budget took a tough stance on public sector pay and pensions, but offered some reprieve on the former Labour government’s plans to cut pensions tax ...
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Article
Airbus launches flexible benefits for management staff
Airbus has launched a flexible benefits scheme for its 1,000 management staff in a drive to be a competitive employer and to incentivise other employees to progress within the company.The aircraft manufacturer will see the final introduction phase completed by mid-July, when the Vebnet-provided flex scheme is fully processed through ...
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Article
Chinese army provides matchmaking services for soldiers
Keeping work their and personal lives separate is not necessarily the best option for single Chinese soldiers, who †rely on their employer to get them a date.China's People's Liberation Army is adapting its benefits package to help soldiers, many of whom are stationed in remote parts of the world, find ...
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Article
Median pay rises set to remain below inflation for four years
Median pay rises are likely to remain below inflation during the next four years, according to research conducted by the Hay Group.The consultancy forecasts that median salary growth will reach just 2.4% this year. According to the Retail Price Index (RPI) inflation will rise to 5.3%, meaning that pay is ...