All articles by Robert Crawford – Page 3
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ArticlePay reaches £100,000 for over 400 TFL staff
The number of employees working for Transport for London (TFL) earning a total remuneration package over £100,000 has reached more than 400 for the first time. This represents an increase of some 87 employees at the organisation, rising from 326 in 2013/14 to 413 in 2014/15.There was also an increase ...
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Article17,000 Tata Steel staff to strike over pensions
More than 17,000 Tata Steel employees will strike on 22 June in an ongoing dispute over the organisation’s pension scheme changes. The action will include a ban on overtime and work-to-rule will be carried out next week by employees.The dispute is over the closure of the steel workers’ final salary ...
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ArticleNAPF appoints Lesley Williams new chair
The National Association of Pension Funds (NAPF) has appointed Lesley Williams its next chair.She will succeed Ruston Smith, whose two-year tenure will end at the NAPF’s annual general meeting (AGM) in October 2015. Williams will assume her responsibilities after the AGM for a two-year term.Williams is group pensions director at ...
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ArticleCentralising global benefits held back by operational realities
Multinational employers are building infrastructures to manage employee benefits globally by centralising benefits decision making but this is ahead of the operational realities, according to research by Aon Global Benefits.Its 2015 Global benefits survey, which surveyed 184 respondents specialising in global benefits and reward, found that a lack of centrally ...
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ArticleTalkTalk and UKTV shortlisted for engaging benefits
TalkTalk and UKTV are among the employers shortlisted for the award ‘Most engaging benefits package’ at the Employee Benefits Awards 2015.This award, sponsored by Personal Group, recognises employers that have used benefits within their wider strategy to engage employees within the organisation.The full category shortlist is:Lidl – Team LidlTalkTalkUKTVVaultex UKThe ...
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Case Studies
Santander communicates through defined benefit pension changes
The banking firm closed its defined benefit (DB) pension scheme in 2002 to new hires although the scheme still has some 5,000 employee members.Its objective was to manage and reduce the scheme’s financial risk to the bank. Instead of closing to future accrual, it took the decision to implement a ...
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ArticleEvidera achieves cost-neutral flexible benefits scheme
EXCLUSIVE: Evidera has achieved a cost-neutral flexible benefits scheme in the first 10 months of launch after £100,000 worth of investment. The pharmaceutical consulting organisation, which has more than 110 employees, has also saved a total of £8,184 on benefits costs pre-flex versus post-flex costs of £105,131 a year to ...
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ArticlePrison guards form dance troupe to attract staff
Something for the weekend…Attracting and retaining talent is one of the many strategic business aims behind offering employees a benefits package.But perhaps employers only have to form a dance troupe to achieve this goal.One firm in Japan has done just that, with five female prison officers going above and beyond ...
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ArticleLidl and McDonald's shortlisted for motivational benefits
Lidl, McDonald’s Restaurants and MEC UK are among the employers shortlisted for the award ‘Most motivational benefits’ at the Employee Benefits Awards 2015.This award recognises employers that have put in place a successful motivation strategy that uses either incentives or motivational rewards to help drive employee performance, engagement or retention.The ...
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ArticleHoliday buy and sell receive highest take up in flex
EXCLUSIVE: Holiday buy and sell, critical illness cover and travel insurance are among the benefits with the highest take up in flexible benefits, according to research by benefits consultancy and technology provider Vebnet. The research, which is from 52 employer clients across five different industry sectors that have a total ...
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OpinionRob's reward: Pension freedoms, long may they remain
Speaking to a few providers, it seems that the initial rush of calls has subsided and some semblance of calm is slowly being restored.Before the reforms came into effect, some first feared that there would be a rush of people taking their cash in full to spend on a new ...
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Case StudiesThe employee benefits offered by McDonald’s Restaurants
Pension:Defined contribution scheme for all salaried employees. Staff can contribute a minimum of 3% and receive matching employer contributions on a 1:1, 1.5:1 or 2:1 ratio depending on age and length of service, to a maximum employer contribution of 10%. Salaried employees who do not wish to contribute 3% will ...
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Case StudiesMcDonald's Restaurants puts motivation and reward at heart of business strategy
The organisation has boosted performance and productivity by ensuring all of its reward programmes are aligned to its business strategy. The employer was recognised for its approach in 2012, when it won an Employee Benefits Award for best alignment of benefits to the business strategy, and in the years since ...
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ArticleSports Direct staff to share bonus worth £34 million
Sports Direct employees are to share five million shares worth around £34 million in September this year. More than 3,000 of the retail giant’s 28,500 employees will benefit from the organisation’s performance targets being met since 2011.The shares will potentially be equivalent to £11,400 each under the bonus scheme.Sports Direct ...
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ArticleArco and Halfords shortlisted for voluntary benefits
Arco, Halfords and Johnson Matthey are among the employers shortlisted for the award ‘Best voluntary benefits’ at the Employee Benefits Awards 2015.For this award, the judges were looking for an employer that has used staff-paid, voluntary benefits or staff deals in an effective manner.The full category shortlist is:Arco – Perks ...
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AnalysisWhat to include in a staff travel policy
If you read nothing else read this…A clear definition of what travel means for the business is needed before implementing a policy.Company cars remain the most popular travel benefit.Duty of care and awareness of legalities should be included.But employers must be careful about who they benchmark against.When employers are putting ...
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ArticleEmployers failing to correctly register share plans online
Some employers are failing to correctly register their share scheme plans using HM Revenue and Custom’s (HMRC) new online services.Examples of incorrect share scheme registrations, which must be done by 6 July or else schemes risk losing their tax advantages, include registering a plan under the wrong scheme type and ...
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ArticlePension reforms impact slows down but DC landscape changes
But according to the Defined Contribution Investment Forum’s At-retirement solutions for the new pensions era report, published in April, the impact of the reforms on scheme redesign has been more limited than expected.It also found that many schemes are planning to introduce self-select options for each possible retirement option now ...
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AnalysisHow to win employee buy-in for pension scheme change
If you read nothing else read this…Pension schemes invariably face constant change, including the move from defined benefit to defined contribution schemes.Communications are key to winning buy-in from employees.Pensions change could also be the catalyst for improving the financial education of employees.Employers only have to look at the likes of ...
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ArticleUncrystallised pension lump sum biggest challenge
Complying with HM Revenue and Customs’ (HMRC) reporting standards around withdrawal of Uncrystallised Fund Pension Lump Sum (UFPLS) is the biggest technical challenge for providers, according to research by retirement solutions provider Dunstan Thomas.The poll, which was conducted in May 2015, found that 40% of the 15 providers surveyed view ...