All articles by Nicola Sullivan – Page 40
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Article
New financial education body established
The Financial Services Authority (FSA) has established a new financial education body designed to enhance people's understanding of financial matters and improve their ability to manage their own financial affairs.The Consumer Financial Education Body (CFEB), will continue to run financial education seminars for employers as the FSA did. Work on ...
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Article
Staff absence due to travel disruptions costs UK businesses £3m a day
Staff absence due to ongoing travel disruptions caused by the volcanic ash cloud is costing British businesses an estimated £3 million a day.According to absence management firm FirstCare, absence caused by transport problems jumped to 20,300 cases yesterday (Monday), compared to just short of 3,000 on a normal day.Aaron Ross, ...
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Article
Buyer's guide to corporate eyecare (April 2010)
Key factsWhat is corporate eyecare?By law, employers have to pay for eye tests and glasses, if required, by staff who use visual display units. They can reimburse staff these costs, issue vouchers or provide optical perks via a health cash plan.Where can employers get more information?Employers can find out more ...
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Article
Vebnet adds electronic P60s to technology
Vebnet has added electronic P60s to its technology with immediate effect.This follows HM Revenue and Customs’ (HMRC) decision to amend pay as you earn (PAYE) regulations to allow electronic P60s to be issued from 6 April.Until now HMRC insisted mployers issued paper P60s to all employees but a change in ...
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Article
Nearly half of pension scheme mangers would consider a buy-in or buyout
Nearly half of pension scheme managers (41%) would consider a partial buy-in or full buyout in the next 12 months, should pricing and sponsor support be aligned.According to research conducted among 42 of Europe's largest pension schemes, 84% said the preferred route to a buyout would be through a buy-in ...
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Article
Philips rebrands flexible benefits plan and moves to new provider
Philips has rebranded its flexible benefits plan for its 2,300 UK employees to better reflect changes to the company's business structure. It has also switched providers.Philips' new scheme, Identity, carries the strapline 'It's all about you' and has been rebranded in line with the firm's organisational structure, which was simplified ...
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Analysis
Employer profile: Capital One
Capital One is using employee inertia on pensions to automatically increase the contributions staff make to their retirement pot, says Nicola SullivanFew organisations will emerge from the recession unscathed, particularly those in the financial services industry. Banks and lenders will find it challenging to reposition themselves after the economic downturn, ...
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Analysis
Wellbeing events get staff on track for fitness
Wellbeing events can be an effective way to get staff interested in health issues, and for employers to promote existing perks, says Nicola SullivanHealth and wellbeing events are often hailed as an effective way for an employer to launch a new healthcare initiative, promote existing benefits or boost the wellbeing ...
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Analysis
Using incentivisation compensation management (ICM) tools to improve sales performance
Incentivisation compensation management software will reveal the best sales staff, says Nicola SullivanAs UK organisations, still stinging from the effects of the recession, become more focused on the governance and transparency of their reward packages, many are following their US counterparts and working more closely with sales directors to manage ...
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Case Studies
Case Study: Coats launches online compensation management tool
Case study: Coats sews up better managementSewing thread and needlecraft supplies firm Coats is rolling out an online-hosted compensation management (CM) tool.The system, provided by consultants Mercer, will allow Coats to manage its market data more effectively and improve the efficiency of its CM. This will be achieved by market ...
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Article
Asda relaunches sharesave scheme
Asda has relaunched its sharesave scheme, using staff who have benefited previously to boost take-up.The retailer sent out invitations on 26 February to all eligible staff who have completed six months' service. Laura Wilcock, shares manager at Asda, said previous scheme members had a key role to play in raising ...
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Article
Motivational speakers vex employees
Employers planning to boost staff morale by bringing in motivational speakers might be disappointed to find that such measures can be no more effective than an animated pep talk from David Brent, the inept manager from the TV series The Office.A survey to mark the launch of TV channel Dave’s ...
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Article
RBS to pay £1.3bn in bonuses to investment bankers
The Royal Bank of Scotland Group (RBS) will pay out a total of £1.3 billion in bonuses to its 17,000 investment banking staff despite reporting net attributable losses of £3.6 billion for 2009.In addition, RBS has said all bonuses for employees earning more than £39,000 will be deferred and paid ...
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Article
Contract-based DC pensions hit by falling sales
Group pensions sales have fallen sharply as the recession, unemployment, pay freezes and legislative changes have impacted on the market.Aviva saw its group pension business fall by 55% to £462m from more than £1bn in 2008. Similarly, Royal London saw the present value of new business premiums on Scottish Life ...
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Article
BMW insures defined benefit pension against increased life expectancy
German car maker BMW has insured its defined benefit (DB) pension scheme against risks related to the life expectancy of 60,000 pensioners.The longevity insurance transaction, relating to £3 billion of pension scheme liabilities, is designed to protect BMW against financial risk.Abbey Life, wholly-owned by Deutsche Bank, will insure longevity risks ...
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Article
Barber banned from taking home hair clippings for compost
A hairdresser has been banned from collecting his clients’ lopped-off locks to put on his compost heap.Jeff Stone had enjoyed this organic and somewhat unusual perk of his job for around 40 years until it became classified as trade waste.Like other shopkeepers, Stone, who has a salon in Blackburn, will ...
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Article
Asda employees to share £26m bonus pot
Asda employees are to share record £26 million bonus pot after its American owner Wal-Mart reported a 22% increase in profits.The bonus, which is 18% higher than last year's pay out, will be shared between staff at the retailer's 371 stores and 21 depots who have been with the firm ...
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Article
Barclays' staff share bonus pot of more than £2bn
Barclay's employees will share total cash payments of £1.5bn and £1.2bn in long-term awards, while the bank's chief executive and president have turned down their annual bonuses.The bonus awards for the bank's 144,000 staff, including those working in high street branches, will vest over three years and will be subject ...
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Article
Male IT employees are the most romantic
It appears that the reputation IT employees have for being paled-faced geeks more interested in computer games than real-life social interaction is unfounded.In fact, research suggests that a woman who is hooked up with a bloke from the IT department is likely to have a better time this Valentine’s Day ...
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Article
Bupa International staff raise money for Haiti earthquake appeal
Employees at Bupa International have raised more than £1,000 for the British Red Cross Haiti earthquake appeal after the insurer organised a dress-down day.Staff raised £565 through donations to the appeal, which were given so they could come into work wearing casual clothing instead of business dress. The amount of ...