All Employee Benefits articles in Web Issue – Page 236
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Article
Red Letter Rewards launches motivational activities
Red Letter Rewards has launched a range of motivational activities and treat experiences that can take place in the workplace. Employers can choose from a range of events, including sushi making and beauty treatments, and activities can be tailored for an organisation.
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Article
Tusker promotes salary sacrifice car scheme
Tusker is to promote its salary sacrifice car scheme through You at Work's flexible benefits system. The Drive at Work product was launched on You at Work's flex system in February and is available to new and existing clients. The benefit makes low-cost cars available to staff who would not ...
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Analysis
Salary sacrifice benefits
The range of benefits that can be offered under salary sacrifice arrangements has expanded in recent years and the advantages for employer and employee are considerable, says Tom Washington.Salary sacrifice arrangements around tax-efficient benefits allow staff to swap part of their gross salary for a non-cash benefit provided by their ...
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Analysis
Employers use cost cutting measures to avoid redundancies
As the recession tightens its grip employers are taking a cold look at reward and considering a number of cost cutting measures to avoid making redundancies says Nicola SullivanKey areas to consider are:Reduced working hours Paid sabbaticals Pensions Bonuses Contractual perks Consultation process What to consider when making changes ...
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Article
Graduate salary freeze
Graduate salaries will remain largely static this year, but some employers, particularly in the banking and financial sectors, will cut them by up to 8%. According to the Association of Graduate Recruiters' 2009 Winter Survey, the median starting salary has been frozen at 2008's £25,000 level. Salary growth is expected ...
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Article
Pressure on pay rises
Employers plan to keep a tight rein on pay increases in the coming months, and one in eight do not intend to conduct a pay review at all this year, according to the latest quarterly Chartered Institute of Personnel Development/KPMG Labour market outlook survey. Those that are planning salary reviews ...
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Article
Employers concerned over pensions' value for money
Most employers do not think they are getting value for the money they spend on pensions provision.According to PricewaterhouseCoopers' Fourth annual PWC pensions survey, 83% of employers are either very or somewhat concerned about the lack of value they get for their money.More than three-quarters (79%) of respondents are also ...
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Article
Bankers are well rewarded, research shows
Investment banks continue to offer a generous reward package despite the financial crisis.Private medical insurance (PMI) is the most commonly-offered perk in the sector, provided by 93% of respondents, according to Aon Consulting's Banking sector report, which surveyed 34 investment banks. More than half (55%) also cover employees' families.The majority ...
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Case Studies
Parity revamps benefits technology
Introducing a flexible benefits scheme gave IT firm Parity the opportunity to revamp the technology behind its perks.Before introducing flex, Parity relied on Excel spreadsheets to administer perks and HR managers had to manage staff data manually. Sarah Cook, HR director, says: “We can all go in and instantly see ...
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Analysis
The evolution of benefits technology
Advances in technology have revolutionised the delivery of benefits in recent years and the evolution process is continuing, says Victoria Furness.The past decade has seen a huge leap in the evolution of technology. Devices that would have seemed fanciful 10 years ago, such as iPods, digital cameras and increasingly sophisticated ...
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Case Studies
Employer profile: Easyjet
Budget airline Easyjet is navigating economic turbulence by keeping costs under control, and that philosophy extends to its employee benefits, says Tom Washington.It is hard to miss budget airlines. Their bargain-basement prices and in-your-face marketing campaigns have not only made the likes of Easyjet and Ryanair household names, but have ...
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Article
Parents’ flexible right extended
An extension to parents’ right to request to work flexibly will come into effect on 6 April, when all staff withchildren aged under 16 years will be eligible to make a request. Currently only parents with disabled children orchildren under six years can do so.
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Article
Pension deficit changes
Amendments to employer debt legislation next month will give organisations more flexibility when settling pension deficits. The changes, to part of the Pensions Act 1995, will come into effect on 6 April. Richard Shelton, partner and head of pensions at Cobbetts, said: “The intention is to remove some of the ...
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Article
Sharesave bonuses fall
HM Treasury has lowered the bonus rates payable on sharesave schemes in response to falling market swap rates.The new rates are lower than those introduced in December 2008. Employees which sign up to plans after this date will receive a 1.08% bonus, rather than 2.67% on a three year plan. ...
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Article
Buyer's guide to group self invested personal pensions (Sipps) (March 2009)
Self-invested personal pension plans offer staff more investment choice and greater control, says Tom WashingtonThe popularity of group self-invested personal pension plans (Sipps) has risen steadily over the past few years. Much like other occupational pension schemes, group Sipps are individual contracts that allow staff to save for retirement in ...
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Article
Confessions of a benefits manager: Pensions palaver
Orders to close the company's defined benefit pension scheme in a bid to save money call for some expert advice (in duplicate), but it all gets a bit too complicated for the powers that be, explains Candid.I have been asked to close the old defined benefit (DB) pension plan again. ...
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Article
Realise the full value of flex
Sponsor's CommentJacqueline Otten, Principal at Towers Perrin, explains the advantages a flexible benefits plan can bring in difficult economic timesFlexible benefits plans continue to gain in popularity, with over 40% of employers offering a full flex plan, and a further 21% either considering one or in the process of designing ...
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Article
Research: Key findings of flexible benefits research
Our survey, which was carried out in January 2009, received 832 responses from Employee Benefits readers and users of www.employeebenefits.co.ukKey Findings36% of respondents say the recession will result in greater pressure to introduce tax-efficient benefits via salary sacrifice, while the same percentage (36%) say they will review providers to get ...
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Article
Research: Attitudes to flexible benefits
Tax-efficiencies, staff engagement, pension reforms and the recession are all shaping employers' attitudes to flex, says Debbie LovewellTax and national insurance efficiencies on employer-paid benefits appeal because of the savings on offer. Where employer-paid benefits are not on offer, these efficiencies can be accessed via salary sacrifice. Some 46% of ...
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Article
Research: Structure of flexible benefits schemes
How flexible benefits plans are structured has altered in recent years, but the perks on offer are largely unchanged, says Debbie LovewellOver the past few years, the industry’s view of what exactly constitutes flexible benefits has shifted and evolved. Several years ago, the widely accepted definition of a flexible benefits ...