All Pay strategy articles – Page 17
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AnalysisDo financial wellbeing strategies support employees where they really need it?
It is important to understand employees’ needs before putting any financial wellbeing strategies in place. Any employee, regardless of their salary, may be in need of financial wellbeing support, so a sensitive approach to gleaning this is desirable. Encouraging conversations about financial needs and experiences can ...
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ArticlePay growth expectations at lowest level since 2022
Pay growth expectations were found to be at their lowest level since 2022, according to new research by the Chartered Institute of Personnel and Development (CIPD).For its latest Labour market outlook report, the professional body for HR and people development surveyed 2,032 UK employers about their pay, hiring and redundancy ...
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ArticleManager on sick leave for four years not unfairly dismissed
A woman who was sacked after being off sick for more than four years has lost her claim for unfair dismissal.Henderson, who suffered from a condition causing insomnia and brain fog, took her employer to the employment tribunal on the grounds of disability discrimination.She was employed by Maximus UK Services, ...
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ArticleBarclays removes imposed cap on bonuses for some bankers
Banking organisation Barclays has removed a European Union (EU) imposed cap on bonuses for some of its bankers and traders.As part of this change, the bank’s material risk takers (MRTs) will be able to earn a bonus worth up to 10 times their base salary, an increase from a current ...
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ArticleThe top 10 most read articles between 2 - 8 August 2024
The top 10 most read articles between 2 - 8 August 2024 on employeebenefits.co.uk were: Microsoft awards staff one-off performance-based cash awardOsbornes Law launches fertility testing as a staff healthcare benefitSaudi Arabia enhances retirement age, pension contributions and maternity leaveSodexo UK and Ireland receives menopause-friendly accreditationHong Kong and Israel award ...
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Article37% of UK workers want one-off payment to help with cost of living
More than one-third (37%) of UK workers would opt for a one-off payment to help with the cost of living, higher than the global average of 27%, according to research by Always Designing for People (ADR).As part of its latest study People at work 2024: a global workforce view, it ...
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ArticleFCA, DWP and regulator consult on DC pensions joint framework
The Financial Conduct Authority (FCA), the Department for Work and Pensions (DWP) and the Pensions Regulator (TPR) have launched a consultation on a joint framework for workplace defined contribution (DC) schemes.The proposed framework has been designed to move the focus from costs to long-term value and deliver better retirement savings. ...
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OpinionSamantha O'Sullivan: Employers need to prepare for P11D changes
It is no surprise the government is mandating the payrolling of benefits in kind (BIK) and expenses, with paper P11D submissions being abolished in April 2023. However, mandating payrolling of BIKs was introduced by a previous government; will Labour agree and pursue an implementation date of April 2026?Employers need to ...
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AnalysisAre reward professionals ready for the 2026 P11D changes?
Credit: Hyejin Kang/Shutterstock Need to know: Employers should start planning now for the P11D changes to the reporting and paying of tax and Class 1A national insurance contributions (NICs) on benefits in kind, to ensure a smooth transition to the new system in April 2026. Potential ...
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ArticleHealth Food Manufacturers’ Association becomes living wage employer
The Health Food Manufacturers’ Association (HFMA), which represents manufacturers and suppliers of natural health products, has become accredited as a living wage employer.As part of the commitment, every HFMA employee will receive a minimum hourly wage of £13.15 per hour, which is the real living wage rate for those based ...
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ArticleWilson James and ICTS staff at Gatwick Airport accept pay deals
Credit: Pabkov / Shutterstock.comAround 400 Wilson James passenger assistance and 170 ICTS baggage screening workers based at Gatwick Airport have voted for improved pay offers.The Wilson James employees voted in favour of a pay offer worth 10.5%, while the ICTS staff accepted an 11% deal.According to Unite, which represents both ...
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ArticleSiemens Gamesa Renewable Energy staff in Hull accept 8.4% pay deal
Credit: NestorMN / Shutterstock.comAround 300 Siemens Gamesa Renewable Energy wind turbine workers in Hull have accepted a pay deal worth 8.4%, ending an ongoing dispute.The employees, who construct 108-metre-long wind turbine blades by hand, are members of trade union Unite. A total of 93% voted to accept the two-year pay ...
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Article95% do not think one week of unpaid carer’s leave per year goes far enough
Employee Benefits poll: The majority (95%) of organisations do not think the introduction of one week of unpaid carer’s leave per year goes far enough to support employees, according to a survey of Employee Benefits readers. Meanwhile, just 5% of respondents were unsure if one week of ...
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ArticleMicrosoft awards staff one-off performance-based cash award
Technology firm Microsoft has announced that it will award its non-executive employees a one-time performance-based cash award of up to 25% of their annual bonus.According to a memo distributed to employees, salaried and hourly workers at the senior director level and below will be eligible for the award, with amounts ...
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Article65% of pension scheme sponsors do not know how much members can expect at retirement
Two-thirds (65%) of those running pension schemes do not know how much a typical member can expect at retirement, according to Aon’s latest research.The global professional services firm drew insights from 214 UK defined contribution (DC) schemes, with combined assets of over £60 billion and more than one million members, ...
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ArticleMedian pay award for three months to June rose to 4.6%
The median pay award across the economy rose slightly from 4.5% to 4.6% for the three months to June 2024, according to Incomes Data Research (IDR).Its latest analysis, based on a sample of 227 pay awards between 1 April and 30 June covering more than 1.9 million employees, also found ...
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ArticleThe top 10 most read articles between 26 July - 1 August 2024
The top 10 most read articles between 26 July - 1 August 2024 on employeebenefits.co.uk were: National living wage to increase in line with median earningsCentral Co-op introduces new financial wellbeing benefitJunior doctors agree 22% pay dealCourt of Appeal upholds High Court ruling on Virgin Media pension schemeReeves confirms public ...
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ArticleHong Kong and Israel award Olympic athletes the biggest bonuses
Credit: Hethers / Shutterstock.comSomething for the weekend: Most people have been glued to their televisions watching the Paris 2024 Olympics for the past few days, marvelling at the talent of the athletes. It turns out that some of them don’t just come home with medals, but with special bonuses as ...
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ArticleEquality watchdog names six employers that have not reported gender pay gap data
Defence and security technology firm Ultra Electronics and Norchem Healthcare have been named as some of the employers that have missed deadlines to report their 2023-2024 gender pay gap data.Private sector organisations across Britain and English public bodies with 250 or more employees are legally required to publish their gender ...
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ArticleUnite launches campaign for fair pay and fair tips for hospitality staff
Unite the union has launched a campaign to ensure hospitality workers receive fair pay and fair tips.The campaign will focus on ensuring that employees in the hospitality sector understand their rights and have the support and tools they need to collectively enforce those rights.Unite’s campaign will focus on: fair pay ...