All Pay strategy articles – Page 114
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 – ...
-
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, ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
ArticleWomen have up to 45% less in their pension pots than men at retirement
A new report by Barnett Waddingham has revealed a stark gender disparity in wealth at retirement, with women having between 25% and 45% less than men in their pension pots when they retire.The research, based on an analysis of some 35,000 members in seven defined contribution (DC) schemes, found that ...
-
ArticleCriteo hires first VP of global DEI
Digital advertising agency Criteo has appointed Rachel Scheel as its first senior vice president of global diversity, equity and inclusion.As well as helping to craft the company’s gender equality agreement and honour its commitment to achieving 30% of women in leadership roles at the business by 2022, Scheel will also ...
-
ArticleStudy finds mindset key to financial wellbeing
Pensions and investment company Aegon has today (29 March) published research which has analysed the link between financial wellbeing and people’s mindsets.The Financial wellbeing index placed an equal weighting on money factors such as income levels, budgeting skills and affordability of debt, alongside mindset factors such as peoples’ ability to ...
-
ArticleSupreme Court rules Asda staff can pursue equal pay
Supermarket retailer Asda has lost its appeal to the Supreme Court, in which it argued staff working for one area of the business could not compare themselves to others for equal pay purposes.The long-running case centres on shop floor workers - mostly women - who said they should be paid ...
-
ArticleDeliveroo riders paid less than the minimum wage
A joint investigation by The Bureau of Investigative Journalism, The Mirror newspaper and ITV has revealed large numbers of Deliveroo riders are paid below the national minimum wage (NMW).Analysis by the Bureau of more than 300 riders' invoices found that a third earned less than the NMW of £8.72 for ...
-
ArticlePandemic drives growth in tech industry salaries
Salaries across the technology industry leapt by 12% last year on average, outstripping average pay rises of 5%, according to a new report.The Xcede salary guide, set to launch on Monday (29 March), looks at trends in the data, digital, and technology sectors over the past year.It revealed that average ...
-
ArticleThe top 10 most-read articles between 18 March – 24 March 2021
The top 10 most-read stories on employeebenefits.co.uk between 18 March – 24 March 2021 were: Supreme Court dismisses sleep pay claimsHas the role of health cash plans changed during the pandemic?BAE Systems outlines placing mental health at the centre of wellbeing strategiesEmployee wellbeing findings a ‘wake-up call’ for actionBT gives ...