All articles by System Administrator – Page 32
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New law alters IP plans
The Welfare Reform Act 2007, designed to reduce the number of people claiming incapacity benefit and encourage the long-term absent back into the workplace, is set to have a key impact on employers seeking income protection (IP) insurance.The legislation, which received Royal Assent in May, is prompting some providers to ...
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FDs flock to bulk pensions buyouts
Finance directors are benefiting from current discounts of up to 10% on bulk pension buyouts.These have been driven by increased competition. Since the middle of 2006, the number of insurers offering buyout services has grown from two to 11. In addition, a rise in corporate bond rates has brought down ...
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Hutchison 3G looks into flexible benefits
Hutchison 3G has introduced holiday trading for its 3,500 staff to test their interest in flexible benefits. Staff can now buy or sell one week of their annual leave.The telecoms company is considering launching flexible benefits in April next year, but wants to gauge the degree of employee interest in ...
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The law around long-term absence
Limiting legal liabilities becomes ever harder, but group income protection can be a safeguard against long-term absenteeismNo one wants to have an employee off work long term as a result of stress. But, if it does happen, it's essential that employers abide by their legal obligations or the situation could ...
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Willis introduces absence risk management service
Willis Employee Benefits, part of Willis Financial Services, has launched an absence risk management service for employers, which offers a full audit of their internal policies and procedures.The aim of the service is to identify any areas of a business that may impact on the health of staff and cause ...
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Auto-enrolment legal
The European Union has ruled that it will be legal for employers to auto-enrol staff into a contract-based defined contribution pension scheme, removing a key obstacle to UK government plans for pensions reform in 2012. Employers will not now be prevented by the European Distance Marketing Directive from auto-enrolling staff ...
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Thomsons Online Benefits launches tool to monitor perks' spend
Thomsons Online Benefits has developed an online data collection service that helps employers monitor their spending on perks.The service, Dashboard, is exclusive to Thomsons Online Benefits' clients, and offers a clear idea of which perks are being used by staff. It is the latest product to be launched from the ...
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VT Group moves voluntary benefits in-house
Defence and support services firm VT Group, has brought its salary sacrifice and voluntary benefits in-house and rebranded the scheme in company colours.VT claims it will now be able to monitor take up of perks by its 6,500 eligible staff. The benefits on offer include holiday trading, bikes for work, ...
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Suzanne Laverick leaves Cadbury for Southco
Cadbury employee benefits manager for the UK, Suzanne Laverick, is joining engineering hardware firm Southco as its new compensation and benefits manager for Europe. She said: "I'm looking forward to broadening my knowledge within the compensation and benefits arena in Europe. This is a great opportunity to build upon the ...
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Carlsberg reviews perks
Carlsberg has consolidated its cash plans and reviewed the range of perks on offer, adding new options and launching a benefits portal to allow access to relevant information in one place.Employees now have the option to buy and sell two days of annual leave each year, take retail vouchers and ...
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Case studies
Case study: Coventry Building Society Coventry Building Society employs 1,300 people across the Greater Midlands region including at three head offices in Coventry. A couple of years ago it overhauled its employee benefits programme to help look after the health of its workforce.Tina Jones, HR project manager at Coventry Building ...
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Sponsor’s comment by Legal & General: Stress perks in health plan
This article is brought to you by our sponsor Legal & General.Over the last decade, stress, and the way we manage it, has become an increasingly important issue. We are all under increasing pressure both at work and at home, and while it is now generally more acceptable to admit ...
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Is HM Revenue and Customs scrutinising incentive schemes?
HM Revenue & Customs (HMRC) is reviewing the tax paid by employers on incentive schemes, according to an industry insider from a motivation provider.The source told Employee Benefits that HMRC has extended the scope and boosted the frequency of investigations of employers running incentive plans. But, HMRC has denied this.The ...
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Reward Matrix offers new employee survey
Reward Matrix, the voluntary benefits provider, is now offering employers an online or paper-based survey to measure the impact of new benefits on staff engagement. The survey takes 15 minutes to complete and asks employees about their personal values and any new benefits they may appreciate. From their answers, Reward ...
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McDonald's extends total reward statements
McDonald's has extended the reach of its paper-based total reward statements to include the first level of area management — one level above restaurant staff.Last year, the fast food chain sent statements to 110 senior managers in the UK, and with the extension to area managers the number of statements ...
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Three Valleys Water use reward statements as first step to flex
Three Valleys Water has issued staff with paper total reward statements as the first step towards implementing a flexible benefits scheme later this year.The company hopes the move will increase recruitment and retention levels by reminding staff of the value of the benefits that are available, including bonuses, holidays, cars ...
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How to identify stress
It is vital for employers to identify stress in the workplace and one of the simplest ways to pinpoint problems is to audit employeesIdentifying stress, and the potential for it to occur, is key to keeping employees healthy and productive and safeguarding an organisation from stress-related tribunals.Running a stress audit ...
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Tools to manage stress
Perks such as employee assistance programmes can be a valid first step in helping to control and limit stress in the workplaceAs well as taking steps to acknowledge and identify stress, it's also sensible to have measures in place to manage and control it when it does occur.An employee assistance ...
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Stress management policy
As well as showing staff that your organisation plans to prevent stress, it needs to document how it will help potential sufferersFormalising an approach to tackling stress with an occupational stress management policy is a good way to show a commitment to tackling stress in the workplace.Vanessa Sallows, underwriting and ...