All articles by System Administrator – Page 56
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Analysis
Establish objectives for the pension plan
There will often be tension about pensions funding costs as a scheme will compete against an organisation's other prioritiesIn theory it sounds easy to justify running a pension scheme, but in reality the business case is hard to pin down. This is compounded by the current emphasis on total reward, ...
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Article
How to evaluate pensions
Why manage a pension?Running costsSalary sacrifice savingsReturn on investmentPersonal accountsEvaluating investmentsSponsor's message: Push pensions' valueDownload: How to evaluate pensions (PDF 654KB)A pension scheme is a must-have benefit for most employers. But the cost of providing this benefit to staff can be considerable and the impact of a pension on recruitment ...
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Article
Fees: is your plan running to stand still?
One key tactical point for employers may be in deciding whether they want to pass some costs on to the employeesThe cost of setting up a pension plan varies greatly from scheme to scheme and largely depends on the level of advice required around issues such as scheme design and ...
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Article
Towry Law surveys staff as precursor to flex review
Towry Law has carried out an employee engagement survey to find out what its 600 staff want from their reward package.The results will be used to drive a review of the company's benefits offering, scheduled to begin this month.Richard Higginson, reward manager at the IFA firm, said this is expected ...
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Article
How to get reward right
AN organisation's goals should influence business strategy and link to performance indicators before rewards are put in place.In the session Linking reward programmes to business strategy and profitability, Keith Nash, HR director at Europe at recruitment consultancy Badenoch & Clark, explained that employers should ask key questions when putting a ...
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Analysis
Are you getting a return on your pensions plan?
For employers, calculating the return on their investment in pensions is not clear cut, but they can take steps to limit costsIt is an almost impossible task to prove that a pension scheme is worth offering. The best that can be achieved is a body of evidence which, as a ...
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Case Studies
McNicholas' holiday trading scheme proves popular
McNicholas is on to a winner with its holiday trading scheme. When the Hertfordshire-based engineering firm carried out its annual survey, it found buying and selling leave was the most popular benefit.Lindsay Blackman, former HR director at the firm, says: "Staff are positive about the [holiday trading] scheme and wish ...
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Case Studies
Richmond Housing Partnership offers performance related pay
Richmond Housing Partnership (RHP) is a housing association that offers performance-related pay (PRP) to all of its staff.Alison Henderson, RHP's human resources manager, says: "The aim of the PRP scheme is to reward individual performance and actively engage employees in achieving goals."Everyone at the South-West London social housing association has ...
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Article
Smokers less productive at work
More than half (59%) of employers believe that staff who smoke are less productive than their non-smoking colleagues because they typically take regular breaks from work. Just under three-quarters (74%) of employers are also more likely to recruit a non-smoker over a smoker, according to Employer perceptions of smoking in ...
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Article
Push pensions' value
This article is brought to you by our sponsor AXA.Providing a staff pension scheme should be seen as a valuable benefit that helps to recruit and retain people within a business. However, pensions have a mixed reputation and engaging employees on the subject of growing old can be quite challenging. ...
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Article
Additional paternity leave law in consultation document
The government has published its consultation document containing further proposals around additional paternity leave (APL) and pay.The consultation, which closes on 3 August 2007, will ask opinions on how APL and pay should be administered, such as whether parents should be able to self certify their eligibility. Elizabeth Lang, associate ...
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Case Studies
T-Mobile addresses drivers attitudes to keep them safe
T-Mobile believes it is not enough to impose rules and checks on employees, it also works on addressing driver beliefs and attitudes to help keep them safe.The firm's policies cover document checking, effective accident management and the use of mobile phones when driving.But it also thinks more strategically. Frank Arthur, ...
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Article
Financial education - definition - Financial advice
This is anything offered in addition to financial education and can only be provided by firms and individuals authorised by the Financial Services Authority (FSA). The cost of providing access to independent financial advisers (IFAs) for staff can vary depending on the number of employees and type of advice chosen, ...
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Article
Cars and fleet - definition - All employee car ownership plan (AECOP)
An all employee car ownership plan (AECOP) allows all employees who are not entitled to a company car of any description to purchase a vehicle at a discounted rate. An all employee car ownership plan usually favours larger companies which have a strong buying power with car manufacturers.Both McDonald's and ...
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Case Studies
British American Tobacco improves financial education for staff
Maturing employee share options under British American Tobacco's (BAT) sharesave scheme provided the impetus for its HR team to improve financial education for its employees.Nina Crossen, HR project manager at BAT, says: "Because the share price had increased enormously there was good profit to be gained by employees and this ...
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Case Studies
Pfizer anticipates smoking ban's impact on its company cars
Global pharmaceutical company Pfizer, which has 2,200 company car drivers, is currently grappling with the introduction of the smoking ban in England.Lynne Bundle, fleet and mobile phone manager, explains: "We have sent out some guidelines but there are still some grey areas in that [we] have 635 opt-out drivers [who ...
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Article
Financial education - definition - Benefits modellers
Benefits modellers can be provided online to help staff work out how much certain perks will cost.These tools are now available around a number of different benefits. For example, pensions modellers can help staff work out the benefit they could receive if they were to increase their contributions, while flexible ...
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Article
Cars and fleet - definition - Employee car ownership scheme
As the cash alternative to contract car hire and outright purchase, an employee car ownership scheme allows an employee to spend a certain amount of cash, determined by their employer, on a car of their choice through monthly payments.The employee signs a contract with a car leasing company to purchase ...
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Article
Cars and fleet - definition - Personal contract plan
A personal contract plan (PCP) is a type of employee car ownership scheme that allows an employer either wholly or partially to sacrifice the responsibility for the company car and offers employees the opportunity to have a vehicle under similar conditions to the company car. Under a personal contract plan, ...
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Article
Cars and fleet - definition - Outright purchase
This is when an organisation actually buys the company car, usually in bulk for discounted deals, and loans it to employees. In this instance, employers are responsible for the administration and will also have to ensure, subject to employee contracts, that the car is adequately maintained, fit for purpose and ...