All Pay strategy articles – Page 108
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ArticlePension savers would divest from firms that don't pay the living wage
One-third of pension savers would rather divest their savings from organisations that fail to pay the living wage.This is the main finding of research by PensionBee, which polled more than 1,500 savers last month.According to its research, 83% of savers expect the organisations in their pension to pay all of ...
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OpinionVictoria Von Wachter: Untangling the knot of furlough leave entitlement
Many industries are gearing up to reopen on 12 April, bringing furlough to an end for thousands of employees.As Prime Minister Boris Johnson provides hope that borders may reopen on 17 May, these employees may be wondering how their previously furloughed status will affect their annual leave entitlement.Can employees expect ...
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ArticleFelicia Willow: Was the Government right to delay gender pay gap reporting for six months?
The short answer to this question is "no, but…".Gender pay gap reporting should never have been suspended in the first place. When the pandemic first hit, the Fawcett Society responded with research into the impact of the pandemic on women and by launching a campaign to #MakeWomenVisible. Through ...
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ArticleCarol Verner: Was the Government right to delay gender pay gap reporting for six months?
Although the Government has delayed the enforcement of the Gender Pay Gap Reporting Regulations until October 2021, it is important for organisations to not stop working on closing their gender pay gap. Reports are of little value if not understood and followed by proactive actions.At Kettering General Hospital, we use ...
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ArticleDr Wanda Wyporska: Was the government right to delay gender pay gap reporting for six months?
In February, The Equality Trust joined organisations such as the Fawcett Society and Women’s Budget Group to call on the Government to immediately reintroduce gender pay gap reporting. Yet, as we know, publication alone is not enough. As Fawcett has suggested, we need a contractual 'right to know' and an ...
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ArticleMatt Hancock met Greensill over NHS salary advance scheme
Image credit: Bart Lenoir/ Shutterstock.comHealth secretary Matt Hancock was lobbied by former Prime Minister David Cameron and financier Lex Greensill to introduce a payroll scheme that was later offered within the NHS, it emerged over the weekend.There are fears that procurement and open competition rules were flouted as NHS ...
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ArticleEast Lothian Council reveals gender pay gap figures
East Lothian Council has published it annual gender pay gap report, and has revealed that the average hourly rate for male employees was £15.62 during 2020 compared to £14.90 for female staff – representing a median gender pay gap of 4.61%.Its mean gender pay gap is 3.01%, meaning that that ...
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ArticleBank of America increases junior banker pay
Bank of America is to give its junior bankers globally a pay boost of $10,000 (£7,290) per year and will offer them wellbeing conversations.The move is in response to a sharp rise in deal activity and comes in the face of increased competition from rival banks, which has seen Credit ...
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ArticleCall to action launched for living wage
IDH, The Sustainable Trade Initiative, has published a Call to action: Better business through better wages, demanding companies take greater steps to pay a living wage to their staff.The group, which seeks to make trade more sustainable, launched the scheme to encourage organisations and their suppliers to take action. So ...
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ArticleGender pay gap the same as in 2018
Initial analysis of gender pay gap reporting submissions has found that – so far – the mean wage disparity at companies in 2020 was the same as in 2018, indicating little overall improvement.The study was carried out by the Chartered Institute of Personnel and Development (CIPD), and examined all submissions ...
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ArticleReckitt Benckiser Group reveals global pay gaps
Reckitt Benckiser Group has published its gender pay report for 2020 – and for the first time it includes figures for 10 countries, covering 70% of its workforce.The findings revealed that in the UK median pay for a female employee was 6.1% ‘more’ than her male equivalent, up from the ...
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ArticleVolvo unveils global paid parental leave policy
Volvo Cars has today (1 April) announced the global roll out of its brand new ‘Family Bond’ paid parental leave policy after a successful pilot of the scheme in Europe, the Middle East and Africa.The policy – an all gender-neutral, paid parental leave of 24 weeks at 80% pay – ...
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ArticleTravis Perkins halves its gender pay gap
Travis Perkins, the trade and consumer hardware retailer, has revealed figures for 2020 which show it has halved its mean gender pay gap.According to its latest pay gap report, the organisation's mean wage difference was 4.8% in 2020, compared to 10% in 2019.The retailer's median hourly rate was even better, ...
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OpinionCharles Cotton: Employers are likely to take a targeted approach to pay post-Budget
The focus of this year’s Budget was on supporting lives and livelihoods. For instance, to help protect jobs, the furlough scheme was extended to September, while to support small to medium-sized enterprises (SMEs) invest more in IT and improve management capability, the Help to Grow initiative was launched.In terms of ...
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OpinionMatt Fryer: Don’t misread new IR35 guidance
There’s been something of a panic about IR35 these past few years - not least because it’s now been beset by delay. When businesses were struggling with dealing to meet last year’s deadline, the arrival of Covid-19 (Coronavirus) gave everyone a probably much needed extra year. But this time has ...
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ArticleDF Capital becomes living wage employer
DF Capital, the small and medium-sized enterprise (SME)-focused bank first founded in 2016, has become an accredited living wage employer.The move means the bank will now pay a salary to all its 85 staff that exceeds the minimum hourly rate of £9.50 for those aged over 25.Employees will be guaranteed ...
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AnalysisHow can employers link carbon-neutral goals with their reward strategy?
Need to know:Organisations are under pressure to reduce their carbon footprints and employee benefits can help with this.Ensuring pension funds are invested in environmentally-friendly businesses is a good place to start, while executives can be rewarded on similar metrics.The use of green reward schemes and encouraging greener forms of travel ...
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ArticleKey workers' £1.6 billion living wage gap revealed
Significant numbers of the UK’s key workers have so far ‘lost’ £1.6 billion in earnings by not being paid a living wage, according to research compiled by the Living Wage Foundation (LWF).The analysis found that had these individuals been paid what the LWF recommends, they would have been £900 better ...
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ArticleSony to give bonuses worth seven months' salary
Sony is reportedly set to pay its Japanese staff their largest bonuses for more than two decades, as it prepares to announce end-of-year record profits.The electronics and gaming company is set to post year-end profits of around $10 billion (£7.2 billion), which have been significantly boosted by a surge in ...
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ArticleCMA releases ethnicity pay gap data
New data from the Competition and Markets Authority (CMA) has revealed it has a mean ethnicity pay gap of 29.3% and a median one of 34.8%.The findings were published in the organisation's first ever ethnicity pay gap report, which showed that of its 852 staff, 22% were from black, Asian ...