All articles by Tynan Barton – Page 57
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Capita Fiduciary Group research: Defined benefit pensions have significant financial impact
Defined benefit (DB) pension schemes have had a significant impact on UK organisations, according to research by Capita Fiduciary Group.The finance director survey: The management and impact of defined benefit pension schemes found that 86% of organisations that continue to operate DB schemes have suffered from a, primarily financial, increased ...
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Scottish Widows research: Employees unaware of contribution levels in pension schemes
Over half (55%) of employees in defined contribution (DC) pension schemes are aware how much they are contributing, according to research by Scottish Widows.The Scottish Widows Workplace Pensions Report 2011 found that 45% of scheme members are either contributing nothing or do not know how much they are contributing.Other findings ...
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Aberdeen Asset Management rolls out payroll-giving scheme to staff
Aberdeen Asset Management has introduced a payroll-giving scheme that allows staff to round down their net pay to the nearest pound and donate the remaining pennies to charity.The scheme, Pennies for Promise, was launched by Activpayroll on 5 September at the beginning of National Payroll Week, and is open to ...
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Morris Ashby enters into pension insurance buyout agreement
The trustees of the Morris Ashby pension scheme have entered into a pension insurance buyout agreement with the Pension Insurance Corporation (PIC).The pension fund, which has 480 members and liabilities of £38 million, after its former sponsor JL French UK entered into insolvency in 2006.Following the insolvency, the pension fund ...
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Advanced Business Solutions research: Employers divided as to where payroll function should sit
Organisations are divided as to where the payroll function sits within the business, according to research by management and information systems provider Advanced Business Solutions.The research, conducted among HR and payroll professionals in the UK and USA, found that 36% believe the payroll function should sit between the HR and ...
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Reabur research: Employees prepared to pay for longer weekends
Over half (52%) of British employees would be prepared to sacrifice a day’s pay for a three-day weekend, according to research by Reabur.The study, conducted among 1,283 full-time workers, also found that 14% would willingly sacrifice half a day’s wages to finish work at lunchtime on a Friday.A further 4% ...
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Wood Mackenzie switches flexible benefits provider
Wood Mackenzie, a research and consultancy firm in the energy, mining and metals sector, has switched its flexible benefits provider.The organisation will now use Bluefin’s online reward portal Orbit to offer its flexible benefits plan to employees.Hollie Smith, senior reward and benefits specialist at Wood Mackenzie, said: “Our flex scheme ...
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Scottish Widows research: British employees not prepared to discuss salary
Almost half (49%) of British employees are not willing to share salary details with colleagues, according to research by Scottish Widows.The Dare not ask survey found that 27% of respondents would not discuss their pay with friends, and 15% would not talk about salary with their family.Only 24% of respondents ...
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UK Healthcare to launch cash plan at Employee Benefits Live
UK Healthcare will be introducing a corporate health cash plan at Employee Benefits Live, which will be held on 27 and 28 September at the Business Design Centre in London.The plan has been developed for organisations with over 50 employees, and starts at £1 per employee per week.UK Healthcare is ...
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Close Asset Management acquires Cavanagh Group
Close Asset Management has expanded its financial education services with the acquisition of Cavanagh Group.Cavanagh Corporate, the firm's employee benefits division, and Close Asset Management's financial education division, will now offer employers benefits reviews, communication, implementation, education and delivery.Jeanette Makings, director of financial education services at Close Asset Management, said: ...
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CIPD research: More than half of employees unaware of 2012 pension reforms
More than half (53%) of UK employees are unaware of the 2012 pension reforms, which include the auto-enrolment of staff into workplace pension schemes, according to research by the Chartered Institute of Personnel and Development (CIPD).†The Employee Outlook: Focus on pay and pensions survey found that the employees most aware ...
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BBC pays staff £32.5 million a year for unpredictable shift patterns
The BBC pays £32.5 million a year to employees who get two weeks’ notice of shift patterns.The extra allowance, which is given to around 8,323 of the broadcaster's staff, is paid as a bonus of 10% of their salary if they are given 14 days notice of their hours of ...
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Hyphen research: Employees prepared to take pay cut for additional annual leave
A third (31%) of UK employees are willing to take a pay cut for additional holiday entitlement, according to research by recruitment solutions provider Hyphen. The research found that 40% of employees in their first three to six months and seven to 12 months (43%) of employment would look for ...
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Analysis
Three connects with young workforce
Case study: Pensions calculator pays off at ThreeJacqs Harper, Three’s head of retention performance, works in the upgrades and cancellation business, encouraging customers to stay with Three.Harper has been with the company for seven years, starting in the call centre before progressing to a head office role. She says she ...
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Phoenix Group closes two defined benefit pension schemes to future accrual
Phoenix Group has closed two of its defined benefit (DB) pension schemes to future accrual.Trustees of the two pension schemes agreed to the closure, which will bring a curtailment gain of £10 million relating to a release from future liabilities.Members of the two schemes are staff from the firm's Pearl ...
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Coloplast provides free fruit for staff
Medical devices firm Coloplast is providing free fruit to employees in its Peterborough office.The initiative is part of an on-going employee wellbeing programme, and aims to help staff avoid the afternoon lull.Sam Sedwill, HR director at Coloplast, said: “The health and wellbeing of our staff is very important to us."When ...
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Vodafone to launch global compensation software programme
Vodafone Group is launching a software programme to manage its fixed and variable compensation for 85,000 employees across 20 countries.The Compensation Cockpit from Excentive International will enable the organisation to manage bonus calculations, long-term incentives, salary reviews and allowances.Bernd Flossbach, head of group reward operations and policies at Vodafone Group, ...
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Warner Goodman research: Default retirement age legislation tops HR agenda
The removal of the default retirement age is top of the most important issues facing organisations in Hampshire, according to research by Warner Goodman.The study found that 60% of respondents from small to medium-sized enterprises (SMEs) have welcomed the legislation that means employees no longer have to retire at 65, ...
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Leeds Metropolitan University saves £75,000 a year by tackling workplace stress
Leeds Metropolitan University has saved £75,000 a year by implementing a scheme to tackle workplace stress. John Hamilton, head of safety, health and wellbeing at the university, put the scheme in place over two years ago in reaction to bullying and harassment issues that had surfaced.The scheme is based around ...
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Marshall Aerospace sees rise in bikes-for-work scheme take-up
Marshall Aerospace has seen the highest take-up of its bikes-for-work scheme since it was launched two years ago.Take-up rose by 63 employees in June, bringing the number of staff using the scheme to 275, around 17% of the aircraft manufacturer’s 1,600-strong workforce.The scheme, provided by Halfords, enables employees to pay ...