All Pay strategy articles – Page 29
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ArticleIncreasing minimum pension contributions to 12% could boost savings by £95,530
Increasing minimum pension contributions under auto-enrolment from 8% to 12% could result in additional contributions of £10 billion a year in the UK, according to research by Phoenix Group and WPI Economics.The long-term savings and retirement business and economic consultancy’s report Falling behind the curve, which models the cost to ...
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ArticleBNP Paribas Real Estate reports 23% mean hourly ethnicity pay gap
Credit: JeanLucIchard / Shutterstock.comBNP Paribas Real Estate has reported a 23% mean hourly ethnicity pay gap for the 2022/2023 year, in its first combined gender and ethnicity pay gap report.The firm’s mean hourly pay rate for white employees was £30.08, while for other ethnic groups it was £23.18. Its median ...
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OpinionNick Hurley and Annie Green: The impact of dropping the real living wage pledge
Earlier this year, Brewdog announced that due to trading losses and financial instability, it will drop its real living wage pledge from April onwards. While many employers will have suffered similar financial difficulties as a result of the cost-of-living crisis, the business’ decision to pull out of the real living ...
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AnalysisFiscal drag: how can employers offset the challenges of a difficult economy?
The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result.Employers should ask employees about their financial pressures to understand how to support them.A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag.In his ...
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ArticleMyerscough College employees accept pay rise
Workers employed by Myerscough College Lancashire have accepted a 6.5% pay rise backdated to 1 January 2024 following ongoing strike action.The employees, who are members of the University and College Union (UCU), will also receive a further 1% rise from Monday 1 July. The deal includes a commitment to award ...
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ArticleBountii searches for Apple Vision Pro VR Headset tester
Something for the weekend: Voucher code website Bountii has begun searching for someone to trial and test the Apple Vision Pro Virtual Reality (VR) Headset before its UK release, and get paid for the privilege.The successful candidate will be paid £60,000 to wear the headset for eight hours a day ...
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ArticleThe top 10 most-read articles between 12 - 18 April 2024
The top 10 most-read articles on employeebenefits.co.uk between 12 - 18 April 2024 were: American Express and Unum UK among best employers for health and wellbeingThorntons enhances inclusive family-friendly policies40% of UK staff would choose a job with lower salary but generous benefitsExclusive: National Deaf Children’s Society introduces cancer support ...
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AnalysisHow to strike a balance between managing staff wellbeing and financial pressures
Credit: Andrey_Popov/ShutterstockNeed to know:The cost-of-living crisis is forcing more employees to take on additional work due to financial pressures, raising concerns around burnout.Pay strategies such as targeted pay increases, performance-related bonuses and earned wage access can help.Employers need to ensure there is a culture where people can discuss financial concerns.With ...
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ArticleGi Group ensures pay strategy and benefits support employees' wellbeing
Recruitment firm Gi Group has put measures in place to help its employees cope with the cost pressures they are under.Cindy Gunn, group head of people at Gi Group, says: “Recruitment isn’t the most profitable sector so we have to be a bit more creative to make sure our employees ...
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ArticleSalesforce reports 22.25% mean hourly gender pay gap for 2023
Cloud-based software firm Salesforce has reported a 22.25% mean hourly gender pay gap for 2023, up from 10.29% the previous year.The employer’s median hourly gender pay gap for 2023 was 23.08%, down from 29.74% the prior year.Its top pay quartile as of 2023 consisted of 73% of men and 27% ...
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ArticleThorntons enhances inclusive family-friendly policies
Law firm Thorntons has rolled out enhanced and inclusive family-friendly policies to support its more than 580 staff and partners.New mothers at the firm will receive treble the existing maternity pay, which will rise to 26 weeks at full pay and 13 weeks at half pay. Those adopting a child ...
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OpinionNick Bustin: What are the benefits of pension salary sacrifice schemes?
Pension salary sacrifice schemes are not a new concept, but one that all employers should consider, especially at a time where the tax burden on both employers and employees is high. These schemes, which see employees sacrifice some of their monthly salary in return for increased employer pension contributions, are ...
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ArticleBM Caterers launches enhanced employee benefits package
Contract catering business BM Caterers has rolled out an enhanced employee benefits package for its 850 employees in order to reflect its continued commitment to inclusivity.Titled ‘Pearfect’, the programme includes 24 weeks of fully-paid maternity leave, four weeks of secondary carer leave, and three days of grandparent leave. All of ...
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ArticleLighthouse Charity and Belfast Harbour achieve Belfast Business Promise accreditation
Lighthouse Charity, Belfast Harbour and the Northern Irish Department for the Economy have achieved Belfast Business Promise accreditation as part of a pledge to create a more inclusive environment for employees.The initiative was launched this month by Belfast City Council, which engaged with 130 individuals and 30 businesses when co-designing ...
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ArticleSlaughter and May reports 9.5% mean ethnicity hourly pay gap
Law firm Slaughter and May has reported a 9.5% mean ethnicity hourly pay gap for 2023, down from 11.9% in 2022.The employer’s median ethnicity hourly pay gap for 2023 was 14.3%, up from 11.1% in 2022. A total of 94% of its employees shared their ethnicity details.Its mean ethnicity bonus ...
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ArticleKingsley Napley introduces enhanced time-off for dependents policy
Law firm Kingsley Napley has introduced a new enhanced time-off for dependents policy to provide a supportive workplace for its employees who are parents and carers.The policy goes beyond statutory obligations under The Carers Leave Regulations 2024, which took effect last week. All UK employers must now offer employees one ...
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ArticleThe top 10 most-read articles between 5 - 11 April 2024
The top 10 most-read articles on employeebenefits.co.uk between 5 - 11 April 2024 were: Three and Superdrug shortlisted for Best benefits to support diversity, equity and inclusionRoadchef rolls out payroll and financial support for UK employeesCrawford and Company launches carers’ policy and frameworkPrinces introduces enhanced carers’ leave for UK employeesBurberry ...
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ArticlePlaywrights receive minimum fee rise under UK Theatre Agreement
Playwrights who are members of the Writers Guild of Great Britain (WGGB) are to receive a minimum fee increase following successful union negotiations.Under WGGB’s UK Theatre Agreement, playwrights will receive a 10% rise in minimum fees, with 6% backdated to 1 May 2023 and a further 4% from 1 May.The ...
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ArticleBurberry reports 26.7% mean gender pay gap for 2023
Credit: Sorbis / Shutterstock.comFashion brand Burberry has reported a 26.7% mean gender pay gap for 2023, down from 29% in 2022.The employer’s median gender pay gap was 13.8%, down from 14.2% in 2022. Meanwhile, its mean gender bonus gap for last year was 62.8%, up from 55.8% the prior year, ...
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ArticleCrawford and Company launches carers’ policy and support framework
Claims management provider Crawford and Company has launched a carers’ policy and support framework for its UK employees.In order to manage their caring and work responsibilities, Crawford employees will be eligible for a week of paid carers’ leave annually. They will be able to take it an hour at a ...