All Employee Benefits articles in Web Issue – Page 231
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Article
FTSE share options tumble
Almost three-quarters of FTSE-100 companies' employee share options are now underwater, according to research published by law firm Norton Rose.The study found that of the FTSE-100 companies which granted sharesave (save-as-you-earn) options in 2007, 72% of their share prices have fallen to such an extent that the options they granted ...
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Article
Inducements to flex out of pensions may breach Pensions Act 2008
Employers that offer pension contributions through a flexible benefits plan could fall foul of the Pensions Act 2008 if they offer inducements for staff to 'flex' out of the pension scheme.Employers could be in breach of the legislation if they offer an inducement for the sole or main purpose of ...
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Article
Sarah Barnes, HR policy and equalities manager, Crawley Borough Council: Wellbeing agenda for workers is not frivolous
When it comes to wellbeing initiatives, the line between good practice and good business sense is often unclear. As individuals, we know the benefits of healthy eating, regular exercise and work-life balance. And as employers, it is clear that if we provide wellbeing benefits we can attract and retain our ...
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Article
Mark Cook, head of captive consulting for employee benefits at Towers Perrin: Captive insurance can pay off for employers
Captives, which could be viewed as insurance companies established by non-insurers, such as companies and trade associations, have been developed to finance a number of employee benefits.Recently, interest has become more widespread among companies heavily affected by the financial crisis as they look to cut costs and improve the governance ...
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Article
Interview with Seth Russell, director of reward at Hutchison 3G
Life working as a benefits professional in the oil and gas sector, financial services, telecoms, media, the civil service and the National Health Service (NHS) should, on the face of it, be very different. However, for Seth Russell, director of reward at mobile phone operator Hutchison 3G, who has worked ...
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Analysis
Using cognitive behavioural therapy to tackle work-related stress
Work-related stress is a notoriously difficult problem to deal with, but the growing availability of cognitive behavioural therapy means employers may be able to do more to help, says Nicola SullivanCognitive behavioural therapy (CBT), often associated with acute mental health conditions, is finding its way into the workplace, where it ...
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Analysis
Enhanced transfer values
Employers that want to incentivise staff to move out of a defined benefit pension scheme by offering them an enhanced transfer value deal must be aware of the potential pitfalls, says Nicola SullivanAs the credit crunch increasingly wipes the value off of pension scheme assets, many employers offering defined benefit ...
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Analysis
Remunerating international benefits advisers
How employers can expect to pay benefits brokers, whether by commission or fees, is likely to reflect the idiosyncrasies of the country in which they are buying perks, says Katrina McKeeverBenefits consultants and brokers often play a key role in helping international benefits professionals to source products and services in ...
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Analysis
How employers can prepare for 2012 pension reforms
Updated on 10 Decemember 2012:For the most up-to-date facts, analysis and news please go to our dedicated pensions auto-enrolment section.Read Special report on auto-enrolment (written December 2012)Updated on 15 January 2012:Read updated reports on how to prepare for the 2012 pension reforms:News:Government confirms new staging dates for auto-enrolment (written January ...
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Article
PADA appoints Michelle Lewis
The Personal Delivery Authority (PADA) has appointed Michelle Lewis to its trustee corporation where she will work on issues such as member engagement and investments. Prior to joining PADA, Lewis was senior policy adviser at the National Association of Pension Funds and has also worked for the Trade Union Congress ...
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Article
Phil Austin moves to BBC
The BBC has appointed Phil Austin as reward manager, where he will be largely responsible for managing reward in the broadcaster's commercial arm, BBC Worldwide. Austin joins the BBC from Nationwide Building Society, where he spent 21 years, most recently as reward consultant.
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Article
Marcus Underhill joins Thomsons from Vebnet
Marcus Underhill is to join provider Thomsons Online Benefits from technology firm Vebnet. He will take on the role of global reward director in order to further strengthen Thomsons' international consulting team. Underhill said that the appointment would offer him the opportunity to create global reward strategies for some of ...
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Analysis
Optimising the value of benefits
In tough times, optimising the value of benefits will boost staff appreciation and engagement, but does not have to cost the earth, says Debbie LovewellAs the recession takes a stronger grip across the UK, cash-strapped consumers fearful for their jobs are on the hunt for whatever bargains they can find. ...
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Case Studies
Case study: Nationwide looks to choice
Case study: Nationwide looks to choiceNationwide Building Society optimises the value of its benefits package by keeping its offering fresh for staff and promoting certain perks at key times.When communicating benefits during its flex enrolment period at the end of last year, for example, it focused attention on the discounted ...
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Article
Thomsons offers online pensions
Thomsons Online Benefits is offering employers that provide pensions from Axa and Scottish Widows, the opportunity for staff to join the schemes online. Thomsons' Perquisite platform already provides an online joining process for Aegon Scottish Equitable, Friends Provident, Standard Life and Scottish Life pensions.Michael Whitfield, chief executive officer of Thomsons ...
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Article
Cigna enhances private medical insurance plans
Cigna has enhanced its private medical insurance plans by allowing general practitioners (GPs) to directly refer their patients for diagnostics, cutting out the wait to see private consultants. The change should provide quicker investigations and avoid unnecessary consultation costs.Ann Dougan, Cigna's marketing director, said: "If a GP knows that their ...
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Article
Boost for discount card
Asperity Employee Benefits has reported a five-fold increase in employee transactions around the use of its retail discount cards and gift vouchers after axing employee-paid charges. The benefits provider has cut a number of administration fees around these perks, such as the £1.50 top-up charge on its Asda pre-pay discount ...
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Article
Staff miss out on perks
New research from Canada Life Group Insurance has revealed that more than two-thirds (69%) of employees did not receive any form of employee benefit from their employer in 2008, up 3% on the previous year. However, more than half (53%) of the 1,058 UK residents surveyed said they consider benefits ...
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Article
UK workers not confident on retirement savings
More than half (59%) of UK workers are not confident that they will have enough money during retirement, according to research by Club Vita. The Years Ahead report revealed that 47% of those surveyed are relying on their own personal efforts to provide financial support for their retirement, while one ...
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Article
Workers fear job losses
More than a quarter (27%) of UK employees would be prepared to work 80 hours a week in order to keep their job during the recession, while 19% would take a cut in salary. According to Cyber-Ark's The Global Recession and Its Effect on Work Ethics survey, nearly half (46%) ...