All articles by Nicola Sullivan – Page 42
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Article
Lawrence Churchill appointed as chair of the Nest Corporation
The Department of Work and Pensions (DWP) has appointed Lawrence Churchill as the first designate chair of the National Employee Saving Trust (Nest) Corporation.From now until Nest Corporation is launched on 5 July, Lawrence will be chair designate and an advisor to the Secretary of State. Initially, he will focus ...
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Article
Goldman Sachs bonus pot grew in 2009
Goldman Sachs is to pay out $16.2bn (£10bn) in bonuses for 2009, an average of more than £300,000 per employee.That is a rise of 37% up on 2008, although Goldman’s compensation figure as a percentage of its revenues was 35.8%, its lowest to date.The investment bank paid $519m, which would ...
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Article
Holiday Inn gets staff to act as human bed warmers
News that the Holiday Inn will begin to offer a free five-minute human bed warming service raises poignant questions about how to reward employees who act as hot water bottles.No doubt the move, designed to help customers beat the big freeze, has bought a new meaning to the phrase ‘make ...
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Article
Credit Suisse to cut bonuses for senior staff
Credit Suisse has cut its bonuses for London-based managing directors by 30% in a move that will see it pass on the majority of the supertax on bonuses to bankers.Credit Suisse also intends to reduce its entire bonus pool by 5%, which will further protect the bank from the 50% ...
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Article
Johnston Press is in talks to close final salary pension
Johnston Press has been in discussions with the National Union of Journalists (NUJ) about plans to close its final salary scheme.The company, which publishes titles including the Scotsman and the Yorkshire Press, has confirmed that it is entering into a two month consultation with staff over its proposal to close ...
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Article
More than half of employers rely on statutory sick pay to support absent staff
Workplace paternalism is becoming outmoded and employers now expect staff and their family members to look after themselves, according to research conducted by Group Risk Development (GRiD).The trade association's survey found that more than half (55%) of employers rely on state-funded statutory sick pay of £79 per week to support ...
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Article
Improved pay predictions as HR professionals anticipate upturn
Two-thirds (65%) of HR professionals anticipate an upturn in business over the next twelve months and nearly three-fifths (57%) expect business results to be on or above targeted levels for 2010, according to research from the Hay Group.However the firm's report Reward 2010 highlighted that 94% of organisations agree that ...
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Article
Staff who tell managers what they think of them are less stressed
Employees who are given the opportunity to criticise their boss face to face are likely to have lower stress levels and better health, according to research conducted by the British Psychological Society.However, it is not yet known what impact this kind of transparency might have on the wellbeing of line ...
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Article
DSG International to close final salary scheme to future accrual
DSG International - which owns high street retailers Currys and PC World - will be closing its final salary scheme to future accrual.The firm is currently in consultation with scheme members about the changes which are part of efforts to reduce the costs and risks associated with providing a defined ...
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Article
BAA Pension Scheme appoints Cardano to advise trustees
The BAA Pension Scheme has appointed Cardano to act as its investment advisor.Cardano will advise the scheme's trustees on all aspects of their investment arrangements, including asset allocation, liability hedging and manager selection.Gordon Dewar, chairman of the BAA trustees, said: “We chose Cardano because we liked their focus on the ...
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Article
The Boeing Company offers medical consultation service to staff
The Boeing Company has expanded its wellbeing programme to include a medical consultation service for its US staff.Employees working at the aerospace company are now entitled to a second medical opinion if they are uncertain about a previous diagnosis or the treatments available to them.The service provided by Best Doctors ...
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Article
Wages of Portsmouth FC players delayed
With their luxury lifestyles and bulging pay packets, Premier League football players are not renowned for having problems with remuneration.However, this does not currently apply to Portsmouth FC players whose wages have been delayed three times over the course of four months. On Thursday, the players were finally paid the ...
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Article
The Parliamentary Contributory Pension Fund appoints law firm Sackers to advise trustees
The Parliamentary Contributory Pension Fund (PCPF) for MPs and ministers has appointed law firm Sackers to advise its trustees.Sackers was selected after a competitive tender process and will work with trustees to help the PCPF meet its objectives.Robin Simmons, who led the tender on behalf of Sackers, said: “We look ...
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Analysis
What Darling's pre-Budget report means for reward
The Chancellor’s pre-Budget report contained a number of measures that will affect reward and benefits. Nicola Sullivan spells out the planned changesChancellor Alistair Darling’s pre-Budget report last month will no doubt be remembered for its measures on bonuses, pensions and public sector pay. But such headline items may have overshadowed ...
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Article
British Gas plans wellbeing events to target staff health issues
British Gas is to hold health and wellbeing events designed to address mental health and musculoskeletal problems, as well as a four-month walking challenge for its 28,000 staff.After discovering 60% of staff absences resulted from mental health and musculoskeletal issues (30% each), the company is to tackle these in two ...
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Article
Glaxosmithkline introduces online total reward statements
In November, Glaxosmithkline introduced online total reward statements, provided by Thomsons Online Benefits, for its 16,000 UK employees. These replace GSK’s previous in-house paper and online statements. GSK has set up computer kiosks at some of its manufacturing sites to help staff who are not computer-based to access statements more ...
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Article
Jobs to go as GlaxoSmithKline moves to centralise HR function
GlaxoSmithKline (GSK) has taken steps to restructure and reduce the cost of its HR function, and has launched online total reward statements.The pharmaceutical firm wants to reduce the headcount of its HR and benefits workforce. Some generalist HR positions in the UK are already under consultation and, by April 2010, ...
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Article
Towers Perrin and Watson Wyatt complete merger
The merger of employee benefits consultancy firms Watson Wyatt and Towers Perrin has been completed to form global professional services company Towers Watson.Watson Wyatt's chief executive John Haley will serve as Towers Watson’s chairman and chief executive and Towers Perrin's CEO Mark Mactas will serve as deputy chairman, president and ...
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Article
Government revises decision on childcare voucher tax breaks
The government has revised its decision to phase out tax and national insurance breaks on childcare vouchers.The relief will now be applied to all vouchers at the standard income tax rate of 20%. Higher earners will still be entitled to the basic-rate tax saving.Ant Donaldson, a senior specialist in employee ...
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Article
Supermarket employee paid £1.4 million by mistake
A supermarket worker who was mistakenly paid an extra £1.4 million by his employer did not assume it was a generous Christmas bonus.Instead of rushing out to book a first class ticket to Mexico, the honest Stephen Foster contacted the Co-operative supermarket to arrange for the money to be repaid.Gateshead-based ...