All Pay strategy articles – Page 208
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ArticleUK Supreme Court rules on UBS and Deutsche Bank bonus cases
The Supreme Court has ruled in favour of HM Revenue and Customs (HMRC) in a case examining the tax that should be paid on bankers’ bonuses.In the cases of UBS AG v Commissioners for HMRC and DB Group Services v Commissioners for HMRC, the banks awarded discretionary bonuses to employees ...
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ArticleScottish further education staff strike over pay
Further education lecturers in Scotland are striking over pay today (17 March).The industrial action follows a ballot among members of the trade union Educational Institute of Scotland (EIS) and Further Education Lecturers’ Association (Fela). Of the 61% of members who turned out for the ballot, 88% voted in favour of ...
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ArticleGovernment to increase personal allowance and higher-rate tax thresholds
Budget 2016: The tax-free personal allowance limit and higher-rate tax threshold will increase from April 2017.In his 2016 Budget speech today (16 March), Chancellor George Osborne announced that the tax-free personal allowance limit, the amount an individual earns before they pay income tax, will rise to £11,500 from April 2017, ...
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ArticleTotal pay increases by 2.1%
Total pay, including bonuses, increased by 2.1% between November 2014-January 2015 and November 2015-January 2016, according to research by the Office for National Statistics (ONS).Its UK labour market: March 2016 report also found that regular pay, excluding bonuses, increased by 2.2% in the three months to January 2016 compared to ...
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ArticleSalesforce conducts $3m salary adjustment to address equal pay
Cloud computing firm Salesforce has spent a total of $3 million on salary adjustments in order to rectify statistically significant differences in pay between male and female employees carrying out comparable work.The organisation implemented the changes after conducting an analysis of the salaries of its 17,000 global employees as of ...
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ArticleNational minimum wage to rise to £6.95
The national minimum wage rate for employees aged 21-24 years old will increase from £6.70 to £6.95 an hour.The 25p increase will come into effect in October 2016.The national minimum wage rate for those aged 18-20 will rise by almost 5% from £5.30 to £5.55 an hour, and the rate ...
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ArticleJohn Lewis and Waitrose employees to receive 10% bonus
All 91,500 employees at John Lewis and Waitrose are to receive a bonus worth 10% of their salary.The bonus is equivalent to more than 5 weeks’ pay for staff that have been employed by the John Lewis Partnership for the whole year.The bonus has been awarded after the organisation announced ...
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ArticleLouise's lowdown: Starting whistle blows on gender pay gap league tables
In February 2016, the government unveiled its much anticipated draft regulations on gender pay gap reporting. Organisations with more than 250 employees will be required to publish gender pay and bonus gap data on their website, in addition to information about the number of male and female employees across pay ...
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ArticleNHS Scotland employees to receive 1% pay rise
NHS Scotland staff are to receive a pay rise of at least 1% from April 2016.The Scottish government is to implement the increase in pay after accepting independent recommendations from the NHS Pay Review Body and Doctors’ and Dentists’ Pay Review.Employees earning less than £22,000 will also receive an additional ...
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ArticleWall Street bonuses fall by 9%
The average bonus paid to employees in New York City’s security industry fell by 9% to $146,000 in 2015, according to the Office of the New York State Comptroller.Overall, Wall Street's bonus pool declined by 6% to $25 billion in 2015 as the security industry’s profits fell by nearly 11%.The ...
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ArticleCostco to increase entry level pay
Costco Wholesale Corporation is to increase entry level pay for its employees in the US and Canada to at least $13-13.50 an hour.The membership retailer, which employs some 205,000 full and part-time staff worldwide, currently pays a starting rate of $11.50-12 an hour in the US and Canada.This is the ...
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ArticleMeeting the challenge of the national living wage
Since Chancellor George Osborne announced the creation of a new national living wage in his 2015 Summer Budget, planning how to deal with the associated cost increases has challenged many organisations.When the national living wage comes into effect next month, the minimum hourly wage for employees aged over 25 will ...
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ArticleWilliam Hill to pay all employees the national living wage
William Hill is to pay all of its 12,500 employees at least the national living wage rate of £7.20 an hour.The national living wage, announced by Chancellor George Osborne in the Summer Budget 2015, is mandatory for workers aged 25 and over and will come into effect from April 2016.The ...
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ArticleBankers' bonus cap regulations will not extend to small firms
The Bank of England and Financial Conduct Authority (FCA) will not apply bonus cap rules to smaller firms.The FCA and Prudential Regulation Authority (PRA) have informed the European Banking Authority (EBA) that they will comply with all elements of the EBA Guidelines on sound remuneration policies, except for the provision ...
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ArticleLaw Society of Scotland increases trainee solicitor pay rates
Trainee solicitors in Scotland are to receive a pay rise following an increase in the Law Society of Scotland's mandatory and recommended rates of pay.From 1 April, the Law Society’s Council has agreed that only trainee contracts that pay at least the voluntary living wage rate of £8.25 an hour, ...
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AnalysisHow will the national living wage impact reward strategies?
Need to know:Businesses should analyse the cost implications for payroll and earnings-linked benefits.Salary sacrifice arrangements could result in non-compliance by bringing pay below the new £7.20 hourly rate.Investing in the workforce through employee benefits can drive productivity and thereby help mitigate higher wage costs over the long term.In his 2015 ...
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AnalysisInfographic: The use of salary sacrifice against the new national living wage
An infographic looking at how many organisations have considered the use of salary sacrifice against the new national living wage minimums (Source: Jelf Employee Benefits survey, conducted in November 2015).Read more about how the national living wage will impact reward strategies.
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Case StudiesStarbucks to extend national living wage rate to all staff and offer London premium
All employees working in Starbucks UK-owned stores are to be paid at least the national living wage rate of £7.20, including apprentices and those aged under 25. The coffee chain’s all-employee approach to the new rate of pay will benefit more than 4,500 staff members.From April 2016, baristas’ base pay ...
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Case StudiesDanwood introduces national living wage for all employees ahead of April deadline
Print and document solutions firm Danwood introduced the national living wage rate in January 2016, three months ahead of the statutory implementation date set by the government. Although the £7.20 hourly rate is only mandatory for those aged 25 and over, Danwood has established the national living wage as its ...
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OpinionConor D'Arcy: Consider the long-term consequences of approaches to the national living wage
Since its announcement last summer, the national living wage (NLW) has rarely been far from the headlines. Commentators have discussed its merits and demerits, but whatever your opinion, it is a big deal: the Resolution Foundation estimates that it will result in a pay rise for roughly 4.5m workers.But pay ...