All Pay strategy articles – Page 213
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Article42% believe they are paid fairly
Less than half (42%) believe they are paid fairly, according to research by consultancy Towers Watson. Its latest Global Workforce Study, which surveyed 32,000 employees, also found that salary is the number one reason why employees may consider switching job.The research also found that 46% were anxious about their financial ...
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Article75% of FTSE 100 have changed remuneration arrangements
Three-quarters (75%) of FTSE 100 organisations have made changes to their remuneration arrangements in the past 12 months, according to research by Deloitte.Its annual survey on FTSE 100 directors’ remuneration found that employers are amending their arrangements as they respond to shareholder expectations and the government’s new rules on disclosure ...
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ArticleFTSE 100 execs paid 131 times more than staff
FTSE 100 executives are paid an average 131 times more than their employees, according to research by the High Pay Centre.The research, which compared FTSE 100 executive pay recorded by organisations in their annual reports, found that there has been a rise in executive pay levels compared to those of ...
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ArticleFTSE 100 executives receive cash in lieu of pension
FTSE 100 directors received cash payments worth 27% of their salary in lieu of pension membership in 2013, according to research by Incomes Data Services (IDS).The IDS Executive Compensation Review also found that directors of companies listed on the alternative investment market (AIM) received an annual cash payment in lieu ...
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Article53% offer a savings scheme through payroll
More than half (53%) of respondents offer a savings scheme to staff where deductions are made via payroll, according to research by the Chartered Institute of Payroll Professionals (CIPP).Its Policy research paper – saving through payroll, which surveyed employers as well as representatives from the payroll industry, found that 41% ...
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ArticlePAYE tax code changes could adversely impact employers
HM Revenue and Customs’ (HMRC) pay-as-you-earn (PAYE) tax code regulations could have an adverse impact on employers and employees, according to the Association of Taxation Technicians (ATT).The professional body has expressed its concerns in writing to HM Revenue and Customs (HMRC).It stated that HMRC’s proposal to relax the timeframe in ...
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ArticleGuinness World Records launches global HR system
Guinness World Records is to launch an online, self-service HR system for its 150 employees in London, New York, Beijing, Tokyo and Dubai.The HR system will change the way its HR and payroll department runs, providing managers with access to real-time workforce information and enabling employees to manage their own ...
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HSBC to change pay structure to avoid EU bonus cap
HSBC is to change its pay and bonus structure to mitigate the new European Union bankers’ bonus cap, which came into effect from January 2014.According to its Annual report and accounts 2013, it will make two main changes to its current remuneration policy:The introduction of a fixed-pay allowance based on ...
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Barclays increases bonus pool to £2.4 billion
Barclays Group increased its staff bonus pool, from £2.1 billion in 2012 to £2.3 billion in 2013.The bank’s Full year 2013 results showed a rise in total incentive awards for employees, however, overall total incentive awards are still £1.1 billion (32%) lower than in 2010.Incentives for 26,200 employees in the ...
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BBC restructures pay processes for presenters
The BBC is restructuring how it pays some employees.The broadcaster has applied a new employment test to all staff, including its well-known presenters, that it has previously employed as freelancers.Where individuals were hired on a freelance basis, they were paid through personal service companies, which can enable high earners to ...
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Newcastle Theatre Royal selects payroll system for auto-enrolment
Newcastle Theatre Royal Trust has selected a payroll system to help it comply with pensions auto-enrolment legislation.The theatre will use Carval Computing’s HR Unity system for in-house payroll processing and HR functionality to help auto-enrol its 150 employees.It will also manage the organisation’s staffing situation, which includes staff on regular, ...
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Duncan Brown: Pulling the HR lever
Rather than welcoming the significant upward revision to national economic growth forecasts for 2013 (1.4%) and 2014 (2.4%), much of the post-statement debate focused on the cost-of-living issue and who shares in that growth, with the Institute of Fiscal Studies showing that the average employee earns £1,600 less in real ...
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Pay rises for non-executive directors set to end
Pay rises for non-executive directors in FTSE 100 organisations are coming to an end following five years of steady increases, according to research by PricewaterhouseCoopers (PWC).Its Non-executive director fees report found that base pay for non-executive director roles are beginning to plateau, as companies try to keep pay rises for ...
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ArticleJust 28% of FTSE 350 CEOs received a pay rise in 2013
More than a quarter (28%) of chief executive officers (CEOs) in the FTSE 350 saw no base salary increase at all in 2013, according to research by consultancy EY.Its Into the light: a look back on 2013 and insights into the new landscape of executive reward research found that, where ...
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HMRC launches 31% more probes into tax and NI evasion
This number has increased by 31% since last year, up from 1,599 to 2,009 employers.The use of real-time information (RTI) reporting is thought to have helped HMRC launch more investigations into irregularities.Under RTI, which was introduced between April and October this year, HMRC receives monthly updates on employees’ pay and ...
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HMRC extends RTI deadline for micro employers
HM Revenue and Customs (HMRC) has extended the time micro employers are allowed to report pay-as-you-earn (PAYE) in real-time.Organisations with nine or fewer employees will be allowed to report PAYE information on or before the last payday of the month, rather than every payday until April 2016, to help them ...
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HMRC launches draft regulations on real-time information reporting
HM Revenue and Customs (HMRC) has launched draft regulations relating to real-time information (RTI) reporting.The regulations are a result of ongoing engagement with employers about the design of RTI reporting, which took effect from April 2013.This has led to a number of changes being made to the rules covering pay-as-you-earn ...
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Debbie Lovewell: Banish gender pay gaps
In fact, startling pay inequality can be seen throughout all but the most male-dominated professions. Research published by the Office for National Statistics (ONS) last month found that women in full-time employment earn, on average, almost £5,000 a year less than men.Its findings struck something of a personal chord, as ...
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Employers experience difficulties with RTI reporting
In September, HMRC published the findings of analysis into disputed pay-as-you-earn (PAYE) charges associated with RTI reporting.More than 44 million individual PAYE records are being reported using RTI, which represents more than 90% of all employment. Under RTI, employers have to send details to HMRC every time they pay an ...
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BT Group expands global pay review process
BT Group has expanded the reach of its global pay review process to include 38,000 employees across 60 countries using software from Talentia. The telecommunications organisation had previously only used the software provider’s web-based package to support and manage the process for management.Stakeholders and managers can now oversee the process ...