All articles by Nicola Sullivan – Page 55
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Barclays set to unveil changes to remuneration policies
Barclays is set to unveil significant changes to its remuneration policies at its annual general meeting next month.In its 2008 annual report, published this week, the bank highlighted proposals to revise its remuneration policy to accentuate risk management and the role of behaviours that determine it. The bank has revealed ...
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NICE issues guidance to help manage long-term absence
The National Institute of Clinical Excellence (Nice) has issued guidance to help employers manage long-term sickness absence in the workplace.The guidance, which is part of efforts to get more employees who are off sick back to work, recommends a series of measures employers can take to deal with sickness absence ...
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Aegon Scottish Equitable extends free cover benefits for group life schemes
Aegon Scottish Equitable has increased its maximum free cover benefit to £1.25million from £1 million for all new and existing group life schemes at renewal or next rate review.The free cover benefit terms also apply to group income protection for existing schemes of £100,000, again at renewal or rate review. ...
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US Treasury seeks to recoup bonuses paid to AIG's staff
The US Treasury is looking at ways to recoup the $165 million paid out in retention bonuses to AIG employees based at the firm's financial products division, which has sites in London and Connecticut. The bonuses were awarded to staff at a time when the insurance company is heavily reliant ...
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Local authority pension funds sue Royal Bank of Scotland
Two local authority pension funds are taking legal action against the Royal Bank of Scotland Group (RBS) to seek compensation for losses on investments they made with the bank.The Merseyside and North Yorkshire pension funds are accusing RBS of not being upfront about the severity of its difficulties before the ...
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Sony France staff hold boss hostage over severance payouts
The chief executive of Sony France has reportedly been held hostage as part of a protest staged by factory workers who are dissatisfied with their severance payouts.It has been reported that Serge Foucher was forced to spend the night in a meeting room at Sony’s video plant in south-west France, ...
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BT announces pay freeze for UK workforce
BT Group has announced a pay freeze for its 100,000-strong UK workforce as part of its efforts to deal with the challenges of operating in the current economic climate.While the telecommunications firm confirmed that the block on pay would apply to senior executives, it said a decision had not yet ...
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Total UK launches reward statements and revamps voluntary perks
Total UK has launched total reward statements and revamped its voluntary benefits scheme for its 1,100 staff members.After the scheme went live at the beginning of the month, employees at the refining and marketing subsidiary of global energy group Total could access total reward statements and a selection of voluntary ...
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Glasgow City Council increases minimum wage for staff
Glasgow City Council has increased the minimum wage for its employees, meaning its lowest paid workers will see their basic salaries increase by more than £1100 a year.Leader of the city council, councillor Steven Purcell, has announced that a Glasgow Living Wage of £7 an hour will be set up ...
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Lloyds reaches agreement on bonuses
Lloyds Banking Group is due to hand out an estimated £80 million in bonuses for staff as a result of an agreement with the government-owned body that is set to become the bank's biggest shareholder.The bank, which has received a multibillion pound bailout from the taxpayer, has come to an ...
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Wrongly approved expense claims cost UK business £2bn
Wrongly approved staff expense claims are costing UK businesses an estimated £2bn according to research conducted by GlobalExpense.The 2009 GlobalExpense Employee Expenses Benchmark Report, highlighted that 11% of all claims should not be approved by managers because the items purchased are not covered by company policy.In addition the report estimated ...
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HSBC chairman condemns compensation practices amidst controversy over bankers' bonuses
Stephen Green, the chairman of HSBC called for a more sober attitude to reward in the banking sector, as it emerged that bonuses, reportedly topping £32 million were given to five of the firm's senior bankers.HSBC confirmed that yesterday (2 March) Green condemned pay practices in the banking sector as ...
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Employers' views sought on flexible retirement update
The government is seeking employers' views on its plans to update age discrimination laws relating to employees aged over 65 years who return to work under flexible retirement arrangements.The consultation document, Flexible Retirement: next steps, proposes to lift an exemption in the Employment Equality (Age) Regulations which makes it unlawful ...
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Case Law: The meaning of 'discretionary' benefits
Employers must take care what they describe as a discretionary arrangement around benefits, as they could be vulnerable to legal action if staff challenge any changes to the perk.This has been demonstrated in the case of Small and others vs Boots the Company and Boots UK, in which warehouse staff ...
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Asda launches reward scheme
Asda has launched an Olympic-inspired reward and recognition scheme to motivate team performance among its 164,000 employees.Through the scheme, called Going for Gold, staff will be set team targets depending on the business area in which they work. For example, shop-floor staff will be judged on criteria such as improving ...
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Premier Food introduces payroll giving scheme
Premier Foods has introduced a payroll-giving scheme for its 18,000 UK employees as part of its wider corporate social responsibility (CSR) strategy.The scheme, launched at the firm's headquarters in St Albans in February, will enable employees to make tax-efficient donations to a charity of their choice.Under the scheme, provided by ...
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Support centre will prepare GSK staff for redundancy
GlaxoSmithKline (GSK) has opened an employee support centre at its Crawley manufacturing site to give guidance to the 529 staff who will be made redundant when the site closes at the end of 2011.At the centre, opened in January by the site's own human resources team, staff can access a ...
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White & Case introduces new HR and payroll system
Law firm White & Case is to introduce a new HR and payroll system that will gather data on sickness absence, benefits spend and turnover, help to manage staff holidays, and improve the efficiency of processes relating to pay and expenses.The in-house system, provided by Sage HR and Payroll, will ...
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Fife Council switches voluntary benefits provider
Fife Council has switched its voluntary benefits provider in a bid to boost the number of employees taking up locally-sourced discounts.The council has publicised the discounts from more than 130 local businesses, such as decorators, jewellers and home removal firms, on its branded website. To take advantage of the perks, ...
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Research: how flexible benefits is administered
Efficient, cost-effective administration is key to a flex scheme's success, but there is a lot for employers to consider, says Nicola SullivanThe most popular way for employers to administer their flex schemes is using a combination of in-house resources and outsourced services. This is a change from four years ago, ...