All articles by Nicola Sullivan – Page 38
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Kent County Council to train staff on new pay structure
Kent County Council is training its managers as part of efforts to ensure its performance management processes complement its new pay and reward structure.Earlier this year, the council removed the annual incremental pay points from its pay grades and the introduction of annual percentage increases assigned to each appraisal rating.In ...
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Aviva research: Half of employers offer at least one group risk benefit
Around half of employers (51%) offer one or more group risk benefits to staff despite pressures to cut costs in the challenging economic environment..Of the 200 employers that responded to Aviva's annual Health of the Workplace survey, almost a third (31%) said they offered private medical insurance.Around 29% offer life ...
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Protected retirement funds perform well
The only protected funds available to UK group pension schemes have captured strong performance in their first year, with gains of over 32% locked in.HSBC's Protected Retirement Funds, which launched on 20 May 2009, are a series of target date funds, which aim to deliver growth from global equity markets ...
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Almost half of employees had pay docked due to ash cloud restrictions
Almost half (43%) of employees affected by the ash cloud travel restrictions, had their pay docked or their annual leave entitlement diminish last month.According to a survey by recruitment firm Badenoch and Clark, almost a quarter (24%) of employers allowed their staff to work remotely, while a third (32%) allowed ...
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Naked Office TV series raises questions about reward
The return of the television show The Naked Office raises questions about what benefits should be provided for employees that come to work in the buff.Seat warmers, fake tan and dress-up Fridays are just a few perks that may be appreciated by nude staff members.On the other hand, employers might ...
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One in 10 FTSE 100 firms have pension deficits that threaten the business
Almost one in ten blue-chip FTSE-100 companies face pension scheme deficits so large they pose a threat to the future of the business, according to research conducted Pension Capital Strategies in association with JP Morgan Cazeenove.The report the FTSE-100 and their pension disclosures revealed that only five pension funds are ...
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Microsoft named as the best place to work in Europe
Microsoft has been named as the best place to work in Europe for the third year in a row.The firm won the Best Large Workplace in Europe 2010 award at a gala ceremony at the Great Place to Work Institute's European conference in Madrid.Microsoft caught the eye of the judges ...
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UK faces £1.2 trillion pension shortfall in individual retirement income
The UK faces a £1.2 trillion personal pension shortfall in individual retirement income equivalent to 80% of UK's GDP in 2008, according to research conducted by Hewitt Associates.The figure, taken from a survey of 2,000 people conducted in conjunction with YouGov, is based on current level of contributions to a ...
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Metropolitan police chief says bonuses should be scrapped
Bonuses for all police officers should be scrapped, according to the police commissioner Sir Paul Stephenson.Stephenson told The Daily Telegraph the bonus culture in the service should be overhauled because it could warp policing priorities, failed to motivate officers and damaged public confidence.Bonuses in the service, thought to cost more ...
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Technology to manage pension scheme risk is a priority
Pension scheme and insurance risk managers believe that heightening pressure from The Pensions Regulator (TPR) and new obligations placed on insurers provides an opportunity to upgrade cross-organisation risk technology, according to research conducted by Clear Path Analysis.The survey Risk Technology for Pension Schemes and Insurers showed that 72% of insurance ...
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UK bankers earn more than Swiss counterparts
Senior bankers still typically earn twice as much after tax in London than in rival financial centres Geneva and Zurich, according to research by financial recruitment specialist Selby Jennings.This is despite the new 50% tax rate for workers earning more than £150,000 per annum which came into force this April.For ...
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Research: Music in the workplace boosts staff morale
Research this week showed that playing music in the workplace is a cost efficient way to improve staff morale.A survey of 1,200 workers conducted by the MusicWorks campaign, which aims to encourage businesses to play more music, found that 71% of employees wanted music played in the workplace. It also ...
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Axa PPP healthcare launches medical insurance plan for larger employers
Insurer Axa PPP healthcare has introduced a new, lower cost medical insurance plan for larger sized employers.Based on the insurer's Corporate Health Plan – Axa PPP’s most popular plan for larger sized employers – Corporate Health Plan Pathways offers the same levels of cover but operated a different referral process.If ...
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Pensions trustees and employers have different attitudes towards risk
Pension trustees and employers have differing attitudes when it comes to managing risk, according to research from MetLife Assurance.While the employers are interested in looking at risk associated with liability and business, trustees ascribe more importance to investment-related risks.The study of 80 pension scheme sponsors and trustees showed that 29% ...
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National Friendly launches cash plan
Health insurer National Friendly has launched cash plan which provides an annual sum of money that policyholders can spend on a range of healthcare treatments.The plan One Fund provides provides cover for dental, optical, physiotherapy, osteopathy, chiropractic, acupuncture, and homeopathy, specialist consultations, health screening and counselling. A consultation scan and ...
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Biscuits more likely to survive cost cutting than pensions
The pulling power of the humble biscuit has not gone unnoticed by cost-conscious employers who are more likely to cut pension contributions than the snack.Research commissioned by Abbey Legal Protection has shown organisations are more likely to preserve their client biscuit budget than core benefits and even staff themselves.Its Protection ...
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Pay freezes continue to fall
The proportion of pay freezes has continued to fall in the three months to the end of March 2010.†Freezes accounted for 31% of settlements recorded in this period, according to the data from Income Data Services (IDS).This is down from 34% of settlements in the three months to the end ...
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Kingfisher pensions boss condemns 'collusion' on commission
Dermot Courtier, head of group pensions at Kingfisher Group, has condemned employers that collude with independent financial advisers and select defined contribution (DC) pensions with high commission to make profit at employees' expense.Speaking at last month's Employee Benefits Pensions Summit, Courtier was outraged by claims that some corporate IFAs had ...
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Shaw Trust charity changes flexible benefits supplier
Shaw Trust has increased its flexible benefits take-up after switching provider, and has launched voluntary benefits.In March, the charity appointed Vebnet to run its flex scheme after experiencing administrative problems with its previous provider. Of its 1,200 eligible employees, 40% have opted to take part in this year's scheme, compared ...
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Kwik-Fit extends free vehicle collection and delivery service
Kwik-Fit Fleet is to extend a free fleet vehicle servicing and MoT collection and delivery service following a successful pilot.The service, which is being provided in partnership with Autoclenz, willbe rolled out to 220 Kwik-Fit sites this month and plans are underway to make it available nationally. It has been ...