All articles by System Administrator – Page 46
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Article
PPF plans longer levy
The Pension Protection Fund (PPF) has published a consultation document that proposes the levy should be set for three years from 2008, not annually as at present.Such a process would provide greater stability for levy payers in regard to both the levy estimate, which is the total amount that the ...
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Article
The mechanics of share schemes
Share schemes have maturity options and tax implications that need explaining.For many employees, joining a company share scheme may be their first serious encounter with the stock market and how it works.While many employers believe that share schemes help boost motivation by giving staff a sense of ownership there are ...
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Article
Under a third reward overtime
Just under a third (31%) of employers reward their staff for working overtime, according to global research, Working Long Hours by international recruitment consultancy Robert Walters.The survey reports that only 11% of UK employers offer overtime pay to their employees, while 9% offer time off in lieu and career recognition ...
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Case Studies
Saatchi & Saatchi previously ran a phantom share scheme
Saatchi & Saatchi ran a phantom share option scheme from the late 1990s to 2002.The advertising giant was then in the process of implementing a savings-related share option scheme for its employees, but found that the complexities of securities laws or exchange controls in some parts of the Far East ...
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Case Studies
British American Tobacco offers financial education to those in share schemes
British American Tobacco (BAT) offers financial education to those employees participating in its share schemes who are based at its London headquarters.Particular emphasis was placed on the sharesave scheme when it matured in 2006, as the share price had significantly increased in value. The HR department recognised that it needed ...
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Case Studies
Childcare vouchers at PWC impact post-maternity leave retention rates
The introduction of childcare vouchers at PricewaterhouseCoopers has had an impact on post-maternity leave retention rates, which soared from 40% in the mid-90s to 92% in 1998 when the scheme was launched, before falling to 89% in 2005.Women returning to work after maternity leave are now offered 12 months' worth ...
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Article
A constant financial education onslaught may influence success
Rather than making sporadic gestures there can be real merit in providing ongoing financial education in your workplace.Employers may find that instead of providing financial education as and when the need arises, they could find that a continuous programme is more beneficial for the organisation and staff.Angus Jones, managing director ...
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Article
How to manage financial education
Preparing staff for financial schoolingProductivity gains in adding education remitA constant onslaught may influence successForm versus functionShare mechanics of perks Share mechanics of perksBill pensions as need to save so interest is boostedSwitch on to retirement as early as you canAppreciating benefitsLetting staff career aheadSome employers may query why they ...
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Article
Confessions of a benefits manager
Candid: I come up with my own relaxation methods to retain my weekend serenity at work and help stave off a nervous breakdown by turning to meditation and turning conference rooms into chill-out-zones I devise my own relaxation methods to retain my weekend serenity at work and help stave off ...
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Article
Flexible benefits - definition - flexible benefits
There are three main types of benefits plans: core benefits, flexible benefits and voluntary benefits. These describe the way benefits offered, and are not types of benefits. For example: Private medical insurance (PMI) can be offered as core benefit, a flexible benefit or a voluntary benefit.Under flexible benefits schemes staff ...
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Article
Flexible benefits - definition - Cafeteria benefits
Flexible benefits schemes are also sometimes known as cafeteria benefits.There are three main types of benefits plans: core benefits, flexible benefits and voluntary benefits. These describe the way benefits offered, and are not types of benefits. For example: Private medical insurance (PMI) can be offered as core benefit, a flexible ...
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Article
Employee Benefits/Axa SunLife Pensions Research 2007
Key findingsAttitudesTypes of schemesInvestmentLegislationExtra researchSponsors comment: Fitting tailored messagesDownload: Pensions research 2007 (PDF)It is surprising that 72% of respondents don’t yet measure the return on investment (ROI) on pensions. And of these, just 9% say that they plan to start doing so. In a bid to measure ROI, just under ...
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Article
Accountancy wages soar
High demand for the skills of chartered accountants means that the average salary for those working in business is £79,400, according to a survey by the Institute of Chartered Accountants in England and Wales (ICAEW) and specialist financial recruitment consultancy Robert Half Finance & Accounting. The first Career benchmarking survey ...
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Article
Salary sacrifice threat with personal accounts
The future of salary sacrifice schemes could be under threat now that personal accounts have effectively been given the green light under the Pensions Act 2007, as more employers may move to salary sacrifice arrangements to help meet the cost of their contributions. Under personal accounts, it is proposed that ...
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Article
Andrew Cox moves to Lane Clark's employee benefits division
Mercer Human Resource Consulting's product development manager Andrew Cox has moved to become senior consultant in Lane Clark & Peacock's employee benefit division. "I am getting back to the core of what I'm good at, which is helping clients administer their perks [efficiently]," he said.
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Case Studies
KPMG uses two annual employee engagement surveys
Accountancy firm KPMG uses two annual internal employee surveys to assess staff engagement levels and the effect benefits have on this.One survey analyses engagement levels, while the other focuses on benefits. In the future, the firm plans to combine the two to gain a better idea of the relationship between ...
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Article
Employers believe that healthy working means eating healthily at work
Almost a third (31%) of employers believe that healthy working means eating healthily at work, according to a research study for Investors in People conducted by Ipsos MORI. The 2007 survey What does healthy working mean? reports that 24% of employers admit that they have not taken steps to improve ...
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Case Studies
MTV moves from traditional reward to flexible benefits
MTV introduced its flexible benefits scheme in 2005 in order to replace its previous more traditional style of reward structure.As an innovative and exciting global brand, it felt that its previous reward package was in stark contrast to the image that the company wanted to promote to both current and ...
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Case Studies
Cooper Parry divides benefits between HR and finance
Cooper Parry divides responsibility for benefits between its HR and finance functions.While the HR team at the East Midlands accountancy firm runs the lion's share of perks, its finance department oversees its car fleet and pensions.Neena Tebbutt, director of HR, says: "Responsibility for employee benefits is [with] a combination of ...
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Case Studies
Homeserve runs its employee benefits via HR
Homeserve GB sticks with the tried-and-tested method of running its employee benefits through the human resources department.The HR team at the emergency call-out and repairs company has responsibility for all perks, bar its company car fleet and gym membership, which are outsourced.However, the department still needs to get changes signed ...