All Employee Benefits articles in Web Issue – Page 288
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Article
Buyer's guide to benefits consultants (December 2009)
The recession has put the squeeze on some areas of employee benefits consultancy, but steps are being taken to meet employers’ changing requirements, says Sarah ColesThe past 18 months have not been an easy time for employee benefits consultants to win new business. Cash-strapped employers are often in no position ...
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Analysis
Eyecare benefits offer clear advantages
Eyecare perks beyond the legal minimum offer advantages to both employers and staff, says Sally HamiltonIf you read nothing else, read this...Employers are required by law to pay for eye tests for staff who use visual display units (VDUs) and, if required, glasses.Providing above this minimum can have advantages for ...
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Analysis
Long-term incentive plans are a rewarding alternative
Long-term incentive plans may offer a more prudent method of executive reward, says Tom WashingtonIf you read nothing else, read this... Long-term incentive plans (L-tips) are designed to drive business performance, ultimately producing an increase in shareholder value.The award is based on staff meeting certain performance conditions that prove they ...
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Article
Find the best providers for key benefits
The search for key benefit providers must not be based on cost alone, and expert advice may be needed to locate the best candidates, says Jenny KeefeOne of the great things about the employee benefits market is its diversity. But for employers looking to buy new perks, that can be ...
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Analysis
Traumatic year for reward draws to a close
This has been an eventful year for reward professionals, with economic, legislative and administrative challenges to overcome, says Tom WashingtonIf your year has gone by as fast as it has here at Employee Benefits, then it must have flown by quicker than MPs' expenses receipts through the government's accounts department. ...
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Pensions and insurance procurement must not be hurried
Pensions and insurance are key elements of most benefits packages, and procurement requires adequate time and great care, says Sam BarrettA benefits package speaks volumes about a business. It can help to motivate staff, demonstrate an employer's commitment to customers and competitors, and attract the best recruits. Because of this, ...
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Article
Using a broker will aid procurement
If employers use a broker to find benefit providers, a good relationship is essential, says Sam BarrettA broker can offer significant advantages when it comes to arranging employee benefits. But although their experience, support and access to the most competitive terms and prices can be invaluable, employers need to ensure ...
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Interview with John Fitzgerald, senior reward consultant, pensions and benefits at Aegon
John Fitzgerald, senior reward consultant, pensions and benefits at Aegon, sharpens his eye for customer service and value for money, before escaping to exotic holidays and petsDepending on how you view your fellow employees, a degree in zoology may not seem like the most obvious starting point for a reward ...
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Article
The Big Question: Is risk-sharing the way forward for occupational pensions?
Is risk-sharing the way forward for occupational pensions?We ask the experts for their answers...have your say online at: http://forumemployeebenefits.co.uk/Tom McPhail, head of pensions research at financial services provider and asset management specialist Hargreaves Lansdown:Can we salvage something from the wreckage of the defined benefit (DB) sector? At present, it appears ...
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Article
Special report 2009: Benefits procurement
Our latest supplement explains all there is to know about employee benefits procurement.Find out how to run a benefits tender process, pick the right providers for key benefits, and build a strong relationship with brokers.Top tips for a successful tender processFocus on quality when buying key benefitsHow to buy pension ...
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Article
Changes to pension law welcomed
Changes to the trivial commutation regulations from 1 December mean members of occupational pension schemes aged between 60 and 75 will be able to take pension pots of less than £2,000 as a lump sum.This applies even if they have other pension savings that exceed the current limit of 1% ...
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Article
Workers value a good atmosphere, research shows
A good atmosphere in the workplace is the most important factor for employee satisfaction.In the Attitudes to Work survey of 472 UK public and private sector workers by IFF Research, a good atmosphere was rated as very important by 82% of private sector workers and 88% of those in the ...
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Article
TMP Worldwide launches flex and online reward statements
TMP Worldwide has launched a flexible benefits scheme and online total reward statements for its 320 staff.Through its online system, staff at the recruitment advertising agency can view personalised total reward statements, select benefits and join the firm's group personal pension scheme. Perks include dental insurance, bikes for work, health ...
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Article
Santander extends sharesave scheme to Alliance and Leicester staff
Banco Santander has extended its sharesave scheme to 6,500 Alliance and Leicester employees after taking over the bank last year.The scheme was previously offered only to staff of Abbey, which became part of the Santander group in 2004.Ian Cunning, reward consultant at Abbey, said welcoming new staff into the group ...
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New analysis: Gender pay gap still hard to bridge
The pay gap between men and women is narrowing, but there is still a long way to go, despite new equality legislation in the pipeline, says Ben JonesFigures released by the Office for National Statistics (ONS) last month revealed the pay gap between male and female workers in full-time employment ...
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Queen sets out government's plans
The Queen outlined the government's plans to tackle the gender pay gap, improve working conditions for agency workers, and crack down on bankers' bonuses in her speech at the state opening of parliament last month.Her speech said the Equality Bill would "narrow the gap between rich and poor", and contained ...
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Article
Home Retail Group switches voluntary benefits provider
Home Retail Group has switched voluntary benefits provider to improve communication of its scheme.The retail giant has moved from Motivano to Personal Group to provide its scheme.Its new plan, available to all 53,000 staff, includes discounts on days out, leisure vouchers, health club membership, dental and health cash plans and ...
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Article
Group risk perks valued, research shows
Employers still feel morally obliged to protect staff by providing group risk benefits, despite the difficult economic climate over the past 12 months.Just over one-third (36%) of employers that offer group risk benefits do so because they feel obliged to look after staff and their families, according to Group Risk ...
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Heinz stirs voluntary perks ahead of flex launch
Heinz has relaunched its voluntary benefits plan ahead of rolling out a flexible benefits scheme for its 3,000 UK and Ireland staff next year.The food manufacturer has switched providers for its voluntary benefits scheme from P&MM to Asperity, and has introduced a new company-branded website through which staff can access ...
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Article
O2 revamps flexible benefits scheme
O2 Telefonica UK has revamped its flexible benefits scheme to improve the perks on offer and the way it is communicated.Features added to the plan, which is in its third year, include a Benefits Mixer tool that asks staff simple questions to suggest benefits that suit their lifestyle. Colin Watt, ...