All articles by Tom Washington – Page 18
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Flagging pension system harming UK businesses
Weaknesses in Britain's private and state pension systems are putting UK businesses at a severe competitive disadvantage in Europe, according to a report from Aon Consulting.The research finds that other European models have withstood the shocks of the global downturn much better, putting companies based in these pension regimes at ...
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Cadbury wins praise for its employee recognition strategy
Cadbury has been named as one of the the top 50 best workplaces in the UK because of its employee recognition practices.The global confectionery company, which employs more than 4,600 UK staff cross a number of sites, won the accolade from global management consultant the Great Place to Work Institute ...
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Norwich Union Healthcare launches bereavement helpline
Norwich Union Healthcare has launched a new bereavement helpline to offer additional support to relatives and partners of its Group Life customers who have passed away.The helpline can also be used by Group Life customers who have suffered bereavement themselves.The 24-hour confidential helpline, offered in conjunction with PPC Worldwide – ...
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Reward professionals feel under pressure
Reward professionals believe they are under more pressure to minimise costs and improve return on investment this year in 2009, according to research published by Thomsons Online Benefits.The Employee Rewards Watch 2009 revealed 88% of respondents felt under more pressure this year, yet less than one-in-ten (9%) organisations said they ...
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Reward in the legal sector
Many lawyers can expect to receive up to £6,000 for introducing new staff to their firm.According to the HR in Law: Employee Benefits Survey 2009 study by Portus Consulting, 89% of law firms provide financial incentives provided incentives for introducing new employees, representing around £1,000 for support staff. For introducing ...
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Inconnection launches online reward portal
Inconnection has launched a new online reward platform which is free to implement and only paid for by employers as and when they use it to reward staff.The platform is designed for small businesses who wish to reward individuals for achievements such as long-service, sales results or staff referrals.Line managers ...
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Gissings launches defined benefit (DB) pension service
Gissings Consultancy Services has launched a new defined benefit (DB) pension service designed to remove consulting fees.In partnership with Norwich Union and Aviva Investors, Gissings will provide qualifying schemes access to innovative consulting, strong investment products and active account management, while at the same time removing the ongoing burden of ...
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Pension retirement quotes double
The number of people requesting retirement quotes in defined contribution (DC) pension schemes has almost doubled within a year, according to research published by Aon Consulting.The Aon Admin Tracker revealed that retirement quotes rose by 56% overall, a 55% increase in defined benefit (DB) schemes and a 71% rise in ...
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Long-term absence is an ongoing problem for employers
More than a third of employers in the manufacturing sector have seen an increase in long-term absence from 2007 to 2008, according to a sickness absence study of the manufacturing industry conducted by the manufacturers' organisation EEF and Unum.The EEF/Unum 2009 Sickness Absence Survey shows that, despite overall sickness absence ...
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Fujitsu Services to close final salary pension
Fujitsu Services has announced proposals to close its final salary pension scheme in order to reduce risk.The computer services company closed the defined benefit (DB) scheme to new joiners in 2000, but now intends to close it to future accrual for existing members.A spokesman for Fujitsu Services said: "Whilst this ...
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More employers focus on staff engagement to measure success of reward
Most employers plan to increase their focus on employee engagement when measuring their reward programs during the next two to three years, according to a new study by Hay Group and WorldatWork.The research shows that more than half (57%) of companies intend to focus on engagement in the coming three ...
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Pada draws up shortlist to administer personal accounts
The Personal Accounts Delivery Authority (Pada) has drawn up a shortlist of four suppliers to administer the personal accounts scheme.The four suppliers are Logica UK, Danish firm Arbejdsmarkedet Tillaegspension, Great-West Retirement Services (which involves Canada Life Group and Great-West Life and Annuity Insurance Company), and Tata Consultancy Services.Pada completed its ...
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Personal accounts will fail, research shows
Personal accounts are likely to be a failure when they are introduced in 2012, according to a survey on the provision of employer sponsored defined contribution (DC) pensions conducted by Punter Southall Financial ManagementThe survey also revealed that around 80% of employers intend to keep their existing pension scheme in ...
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Medical inflation at 4% as insurance claims increase
The cost of providing health benefits to employees rose by 4% in 2008, according to a report from Mercer.Its annual Medical inflation report also shows that the number of claims has risen by 3% over the same period. The annual claims spend for the survey data was £144 million.Mercer analysed ...
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Co-operative Group launches total reward statements
The Co-operative Group has launched total reward statements to 470 of its senior managers to increase engagement with its remuneration package.The paper-based total reward statements, which will set out details of employees' pay, bonuses, pension contributions, long-service awards and staff discounts, will be sent out this month. The group, whose ...
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Research: Towers Perrin's UK corporate health and wellbeing survey
Cost is the most important factor for employers when setting up a health and risk benefits strategy.According to Towers Perrin's UK corporate health and wellbeing survey, price is the greatest influence when implementing a health and risk policy, cited by 45% of respondents, followed by employee satisfaction (29%).Organisations that provide ...
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Comet launches company-paid healthcare cash plan
Comet has launched a company-paid healthcare cash plan to aid staff health and wellbeing.The retailer, which employs 9,500 people in the UK and already offers private medical insurance (PMI) to its managers, implemented the cash plan for its 7,500 other employees, including its sales teams, drivers, contact centre staff and ...
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Avanta redesigns benefits package after full review
Avanta has reviewed its entire benefits package, making improvements to health and wellbeing benefits, pensions and lifestyle perks.The firm, which specialises in offering flexible office spaces for small and medium-sized enterprises, will introduce salary sacrifice on pension contributions this month. It will reinvest its savings on employer national insurance contributions ...
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West Lothian Council consolidates voluntary benefits
West Lothian Council has consolidated its voluntary benefits under a single provider.The authority, which previously offered benefits via a number of salary sacrifice providers for its 8,000 staff, has now consolidated these into a single integrated scheme managed by Asperity.Neil McLeod, employee benefits manager at the council, said: "Keeping it ...
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Specsavers appoints Tim Fevyer
Specsavers has appointed Tim Fevyer as director of reward and policy. He was previously head of pay policy and employee benefits at Lloyds TSB, where Carol Hosey has replaced him.