All Pay strategy articles – Page 45
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ArticleVirgin Money reports 26.4% mean hourly gender pay gap
Virgin Money has reported a 26.4% mean hourly gender pay gap for 2023.This is lower than its 32.5% gap for hourly fixed pay at April 2017 and 36% in April 2016.The financial services firm’s median hourly pay gap was 34.6%, with 61.2% of males and 38.8% of females in its ...
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ArticleMaths, Business and PE GCSEs result in higher lifetime earnings
Something for the weekend: We often hear of the impact higher education qualifications can have on earnings potential, but it appears that selecting certain GCSE subjects could also give salaries a boost in later life, according to research by online tutoring service Tutor House.Its analysis of the Office for National ...
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ArticleInverclyde Council awards staff pay rise
Inverclyde Council has announced that the majority of its 4,000 members of staff will receive a pay rise before Christmas.The council will implement a pay increase agreed by the Convention of Scottish Local Authorities (COSLA) leaders earlier this month. The increase is part of a revised pay offer from COSLA ...
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ArticleHow will the Autumn Statement 2023 affect pay, pensions and employee benefits?
Autumn Statement 2023: Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement speech in the House of Commons on Wednesday 22 November. A number of key announcements were made that will affect pay, pensions and benefits.Autumn Statement: Government announces plans to offer pension pot for lifeAutumn Statement: State pension ...
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ArticleAutumn Statement: National insurance contribution rate cut to 10%
Class 1 national insurance contributions (NICs) will be cut to 10% from 6 January 2024.Currently, employees pay 12% NICs on earnings above £12,570, and 2% on earnings above £50,270. From next year, employees will pay 10% and 2% respectively. According to the government, which announced the move in the Autumn ...
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ArticleAutumn Statement: Government announces plans to offer pension pot for life
Chancellor of the Exchequer Jeremy Hunt has announced plans to offer a pension pot for life in the Autumn Statement 2023.This will give employees a legal right to require a new employer to pay pension contributions into their existing pot, avoiding the accumulation of multiple pension pots throughout their working ...
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ArticleNational living wage to increase from April 2024
The national living wage is to increase from April 2024.Jeremy Hunt, Chancellor of the Exchequer, has announced it will rise by 9.8% to £11.44 per hour and will apply to those aged 21 and over for the first time. A full-time worker aged 23 will receive an increase worth £1,800 ...
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ArticleHalf of UK deskless workers live pay cheque to pay cheque
Half (50%) of UK deskless workers live pay cheque to pay cheque and are without spare cash once monthly bills are paid, according to research by OC Tanner.The employee recognition firm’s 2024 Global culture report gathered insights from more than 42,000 employees, leaders, HR practitioners and executives from 27 countries, ...
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ArticleThe top 10 most-read articles between 10 - 16 November 2023
The top 10 most-read articles on employeebenefits.co.uk between 10 - 16 November 2023 were: Deutsche Bank completes £500 million pensions buy-inRSA Insurance to launch equal parental leave policySSE accredited as living pension employerUK employers could spend up to £15b on benefits staff do not wantBasic pay for private and public ...
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ArticleVirgin Voyages founder Richard Branson gifts flight staff free cruise
Credit: Stefano Tammaro / Shutterstock.comSomething for the weekend: More than 150 passengers and crew members on a Virgin flight from Melbourne to Hobart in Australia have been gifted a free cruise by founder Sir Richard Branson.Everyone on board the flight, including cabin crew, baggage handlers and pilots, on Thursday (16 ...
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OpinionLovewell's logic: Will we ever successfully close unequal pay gaps?
Next Wednesday, 22 November, is Equal Pay Day in the UK. This is the date when, based on mean average earnings, women effectively stop being paid for the year compared to men. According to analysis by the Fawcett Society, which is behind the day, the UK’s gender ...
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ArticleRoyal Mail implements Christmas incentive scheme
Royal Mail has launched a bonus scheme in order to incentivise staff to meet its Christmas delivery targets.As part of the scheme, employees will be able to earn up to £500 extra if they hit local and national quality targets.Royal Mail’s renamed parent organisation, International Distributions Services, decided to implement ...
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ArticleAAT reports increasing ethnicity and gender pay gaps
The Association of Accounting Technicians (AAT) has reported a mean ethnicity pay gap of 25.3% in 2023, up from 24% in 2022.Its median ethnicity pay gap rose to 25.6% in 2023 from 23.6% in 2022. The report, which is based on hourly rates of pay on 5 April 2023, also ...
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ArticleMedian monthly pay for October up 5.9% year-on-year
Median monthly pay for October 2023 has increased by 5.9% compared to the same period last year, to an estimated at £2,276, according to data from the Office for National Statistics (ONS).Its labour market figures published on 14 November revealed that regular pay growth fell to 7.7% year-on-year in the ...
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ArticleDisabled staff earn 15% less than non-disabled peers
Disabled workers earn 15% less than non-disabled staff, according to research by Trades Union Congress (TUC).Its findings, which were published on Disability Pay Gap Day (14 November), from which disabled people effectively work for free for the rest of the year, also revealed that the pay gap for disabled workers ...
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Article45% of employers think the new living wage rate is enough
Employee Benefits poll: Almost half (45%) of organisations think the new real living wage rates of at least £12 per hour go far enough to support employees, according to a survey of Employee Benefits readers.One-third (35%) said they did not think the new real living wage rates go far enough ...
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ArticleBasic pay for private and public sector staff to rise by 5%
Basic pay for public sector workers is expected to increase by 5%, the same rate as private sector staff for the first time since early 2021, according to research from the Chartered Institute of Personnel and Development (CIPD).The professional body for HR and people development’s Labour market outlook, which is ...
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ArticleThe top 10 most-read articles between 3 - 9 November 2023
The top 10 most-read articles on employeebenefits.co.uk between 3 - 9 November 2023 were: Lancashire County Council ordered to pay £800,000 in discrimination caseNon-NHS health staff win one-off bonusLyft and Uber agree to $328m settlement after pay and benefits were withheld35% of staff want financial support through personalised reward and ...
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ArticlePost Malone leaves restaurant employee a $3,000 tip
Credit: Delmiro Junior / Shutterstock.comSomething for the weekend: A waitress based in America has posted online praise of rapper and singer Post Malone, who left her a $3,000 (£2,426) tip at the end of his meal.Sharing her surprise at the tip on Reddit, the waitress explained that the US musician ...
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ArticleGovernment to legislate to retain rolled-up holiday pay
The government is to legislate to retain rolled-up holiday pay for irregular hours, zero hours and part-year workers and set out that it must be calculated based on total earnings in the pay period.Its announcement follows a consultation earlier this year that sought views on reforms to the Working Time ...