All Pay strategy articles – Page 211
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ArticleEmployers spend less on benefits
The number of employers spending over 20% of employees’ salary costs on workplace benefits has dropped from a third in 2014 to a quarter this year, according to a study from Towers Watson.Just over a quarter (29%) of employers spend 11-15% on benefits, according to the study.The annual Benefits HealthCheck ...
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ArticleUK employees to see real wage growth in 2015
UK employees will start to see a recovery in real wage growth in 2015 as a result of lower inflation levels, according to research by global management consultancy Hay Group.Its Global salary forecasts 2015 report found that while salary forecasts of 2.5% remain the same as 2014, lower predicted inflation ...
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ArticleFinancial Times staff receive 2.2% pay increase
Financial Times (FT) employees will receive above-inflation pay rises of around 2% from 1 April 2015. Editorial staff will see their salaries increase by 2.2% for those paid up to £65,000 for the calendar year. This translates to 2.93% under its HR adjustment formula.The pay deal, which was outlined in ...
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Article39% will change jobs if pay does not increase in 2015
More than a third (39%) of respondents will look for a new job if they do not receive a pay rise in the next 12 months, according to research by Glassdoor.Its quarterly Glassdoor UK employment confidence survey, which surveyed more than 2,030 people, also found that nearly half (49%) said ...
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ArticleSports Direct faces bonus claims from zero-hours staff
Sports Direct is facing a claim from nearly 300 employees that were not eligible to participate in its bonus scheme because they were on zero-hours contracts. The employees were excluded from the retail organisation’s bonus arrangements, which paid out some £160 million worth of shares to 2,000 permanent employees. In ...
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ArticleHR professionals' pay to rise by 5% in 2015
Human resources (HR) professionals’ pay is expected to rise an average of 5% in 2015, according to research by recruitment agency Robert Walters.The 16th annual Robert Walters Global salary survey, which benchmarked the salaries of 2,850 HR professionals, also found that across the UK, salaries are rising fastest in the ...
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ArticlePay increases in financial sector failed to materialise
Large increases in base salary among executives and employees in the financial services sector have failed to materialise, according to research by Mercer.Its Global financial services executive compensation snapshot survey found that projected base salary increases for 2015 remain modest, running on average between 2.3% to 3.2%. According to the ...
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ArticleITV staff to ballot for strike action over pay
Employees at ITV have rejected the organisation’s 2% pay increase offer for 2015 and will move to ballot for strike action.The broadcasting organisation made the one-year pay increase of 2% effective from 1 January.Employees that are members of the National Union of Journalists (NUJ), the Broadcasting, Entertainment, Cinematograph and Theatre ...
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ArticleBP freezes pay globally for 2015
BP has frozen pay for its nearly 84,000 employees globally for 2015. It made the decision in response to changes to simplify and increase efficiency throughout BP.It is also in response to its market environment, which has seen a significant fall in oil prices.The pay freeze will have some exceptions ...
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ArticleRefresco Gerber staff strike over pay
Employees at Refresco Gerber are to hold eleven 36-hour strikes over a 10-week period due to the organisation’s plans to cut pay and change staff terms and conditions. The proposed changes at the juice maker, which produces supermarket own brand products for Waitrose, Asda and Tesco and works with brands ...
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ArticleNon-executive directors' pay rises 7%
Non-executive directors in the UK’s largest organisations have seen a move towards annual pay increases of 7% in 2014, according to research by PricewaterhouseCoopers (PWC) annual non-executive director report.Its annual Non-executive director fees report found that non-executive directors saw a rise in base pay to £65,000 in 2014, up from ...
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ArticleUniversity of Oxford seeks living wage accreditation
The University of Oxford plans to become a living wage employer after seeking accreditation. It already pays central university staff the living wage.Accreditation will mean the organisation will extend the living wage to all employees, including its contractors.The UK living wage currently stands at £7.85 an hour.Once accredited, the University ...
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ArticleYorkshire Water to pay living wage
Yorkshire Water has been accredited as a living wage employer.The water supply and treatment utility organisation, together with its parent company Kelda Group, have committed to pay the UK living wage of £7.85 to employees, including third-party contractors, rather than the national minimum wage of £6.50 an hour.Richard Flint, chief ...
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ArticleJohn Lewis Partnership faces £12m holiday pay cost
John Lewis Partnership faces a £12 million annual cost for additional holiday pay as a result of efforts to comply with an Employment Appeal Tribunal ruling on 4 November 2014 that changed the way that UK legislation is applied in relation to holiday pay.The sum includes pension, bonus and national ...
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ArticleGoldman Sachs paid bankers £245,500 in 2014
Goldman Sachs paid its bankers an average of $373,265 (£245,500) in 2014. The bank set aside $12.69 billion (£8.35 billion) to pay 34,000 employees’ compensation and benefits packages, which include salaries, discretionary compensation, equity awards and benefits.This amount was lower than the sum paid in 2012 but higher than that ...
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ArticleH&M, Welcome Break and Kings Group fail to pay minimum wage
H&M, Kings Group and Welcome Break are among 37 employers that failed to pay some employees the national minimum wage, according to business minister Jo Swinson.Between them, the 37 named employers owe their workers over £177,000 in arrears and have been charged financial penalties totaling over £51,000.The government has already ...
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ArticleABP Food Group cuts costs by revamping HR and pay systems
ABP Food Group has achieved annual cost savings of £150,000 by centralising its HR and payroll processes as part of its compliance with pensions auto-enrolment.The beef processing firm implemented a new system, provided by Advanced Business Solutions.ABP’s previous infrastructure was no longer suitable because all of its 16 sites used ...
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ArticleUK moves up European pay league
The UK has improved its position in the European pay league in the last 12 months, according to research by consultancy Towers Watson.Its Global 50 remuneration planning report found that base salaries for professional staff in the UK at both entry and middle-manager level are now ranked thirteenth and seventh, ...
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ArticleDomestic and General launches global reward scheme
Domestic and General has launched an international reward and recognition programme for more than 2,500 employees.The warranty provider has introduced its expectmore recognition programme, which is provided by Red Letter Days for Business, to support the delivery of its benefits.It will be available to employees across its international business in ...
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Article35% of UK organisations increased salaries in 2014
More than a third (35%) of UK organisations have increased salaries in the past 12 months, according to research by global workplace provider Regus. Its Business confidence index, which has charted fluctuations in business confidence over the past five years and surveyed 22,000 business respondents from 100 countries, found that ...