All articles by System Administrator – Page 114
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Analysis
Do private firms have the perks to offer FTSE staff?
The funding structure of firms can affect the provision of benefits. Differences include executive pay levels and tax advantages, says Peter WhiteCase Study - RACArticle in fullTo paraphrase the recently deceased Hunter S. Thompson: "Public limited companies are like a cruel and shallow money trench, a long plastic hallway where ...
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Article
T & F Informa sees retention rise
T&F Informa has seen staff turnover drop and pension contributions increase following the introduction of its flexible benefits scheme. Salary sacrifice benefits included in the 4th Contact provided system have seen the publishing company save money on the scheme.The firm was then able to re-invest the savings into further benefits ...
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Article
New plan eases trustee time
Carlson Wagonlit Travel has reduced its dependence on scheme trustees by switching from an occupational defined contribution pension plan to a stakeholder arrangement. The business travel company has seen 97% of staff move into its new plan, which offers contributions between 2% and 10% linked to its salary grading structure.Sue ...
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Article
Sygenta offer EAP to staff
Chemical company Sygenta has set up a 24-hour counselling service for staff after it made the decision to make 240 staff redundant.The Swiss-based company launched the service to help staff affected by the job cuts at its Huddersfield site. It also aims to provide these affected employees with a support ...
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Article
Deepdale Engineering introduces EAP for shop floor workers
Deepdale Engineering has introduced an employee assistance programme (EAP) to give its manufacturing staff benefits usually only provided to office workers.John Marsh, company secretary at the West Midlands-based firm, said that staff were a bit bemused at first but soon got used to the idea of the telephone-based service, run ...
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Article
DC members still investing minimums
Despite government attempts to goad the country into action on retirement, nearly four-out-of-five defined contribution (DC) pension scheme members are still only investing the bare minimum each month.According to a new study by HR consultancy Aon Consulting, just 21% of DC members save more than the minimum required contribution. Workers ...
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Article
Correction
The news story, Building on voucher results, in our March 2005 issue should have specified that the flexible benefits scheme was only for employees at Saint-Gobain Building Distribution, not its global company Saint-Gobain. The 6% take-up referred to flexing holidays, not its total benefits package. The firm is very happy ...
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Article
Grampian Country Food closes its final salary pension scheme
Grampian Country Food has closed its final salary (DB) pension scheme to all existing members. The food manufacturer, which employs around 20,000 staff, said that a pension deficit of £85m was one of the main reasons for closure.Scotland’s biggest private company is currently considering floating on the London Stock Exchange.
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Case Studies
Employer profile: Chrysalis
Employers are increasingly looking at new measures to recruit quality staff. We look at media firm Chrysalis, having revamped its flexible benefit packages to jazz up remuneration packages. By Debbie LovewellArticle in fullWhen I set off to interview Chrysalis' HR director, I never imagined that by the end of the ...
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Article
Military changes to pension scheme
A number of major changes to the Armed Forces Pension Scheme are being introduced this month. Changes to compensation payments for death-in-service and a new equal rate of pension accrual are among the changes brought in following a major review throughout the service.
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Article
Unilever UK Home and Personal Care clean up at poll
Unilever UK Home and Personal Care gave its factory workers time off work to fill out its staff survey. And as 100% of its 630 Leeds-based staff took part, the consumer goods firm donated £4,000 to charity. The firm, which owns the brands Dove, Lynx and Persil, promised that if ...
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Article
Buyer's guide to healthcare cash plans
The healthcare cash plan has gathered pace, driven in part by inclusion in flexible and voluntary benefit schemes, and an increase in private medical insurance premiums. By Debbie LovewellArticle in fullWhen it comes to employees' most desired perks, healthcare cash plans are rarely top of the list. Their image may ...
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Article
Workers gain support of bosses
Nearly two-thirds of employees feel their employer is supportive when experiencing tough times. While 19% of staff seek help outside of work, only 7% will seek help at work. This is despite the fact that 36% of organisations offer access to occupational health and 18% offer an employee assistance programme ...
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Article
Health package launched for insurance body
The British Insurance Brokers' Association has introduced a health package to help its members tackle heart disease and obesity. The insurance body is offering discounted vouchers through a scheme run by health provider First Assist, which also includes a free weekend gym pass and free eye tests.
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Analysis
Benefits envy
Ill-feeling can set in when benefits are distributed unfairly. Childcare, performance, long service, management bonuses and reward, and expatriate packages are all potential flash points for professional envy, says Jenny KeefeCase Studies - Toyota, Punch TavernsArticle in fullThere is an AA car loan advert doing the rounds at the moment ...
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Article
Barclays opts for PC plans
Barclays has decided to run two home computing scheme launches a year after 3,000 employees choose 170 different computer models during the initial launch. Staff at the high street bank took up the benefit through a three-year salary sacrifice deal, but instead of having a computer delivered they chose the ...
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Article
Graduates seek work-life balance
Half of graduates looking for a career in banking and financial services are choosing employers with suitable work-life balance policies. However, despite this 50% of employees said that their employer expected staff to work past 6pm with 17% even in the office past 8pm. Some 72% added that quality of ...
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Article
Asda reacts to share slump
Asda has extended its sharesave scheme to an extra 20,000 workers and expects staff to benefit from a slump in its American owner's share price. Last month the supermarket chain launched its annual employee share scheme, which allows employees to buy its parent firm Wal-Mart shares at a 20% discount.Meriel ...
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Article
Over half extend PMI to all staff
More than half of organisations (51%) extend private medical cover to all employees, compared with 41% in 2001. Despite rising premiums, 25% also cover all dependants. Some 29% of employers could demonstrate that providing such benefits improved return-to-work rates and 24% could also show that this helped attract and recruit ...
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Article
Bradford & Bingley raises retirement age
Bradford & Bingley has raised its normal retirement age to its final salary pension scheme as part of a raft of pension changes.From the beginning of this month the building society increased the retirement age from 60 to 65. It has also introduced optional employee contributions. The firm decided it ...