All Employee Benefits articles in Web Issue – Page 349
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Article
Employers increasingly recognise value of company cars
More employers are recognising the importance of company cars and giving drivers more choice.The latest Company Car Trends Survey by GE Capital Fleet Services revealed nearly half (42%) of fleet managers recognise the importance of company cars as a key recruitment and retention tool, compared to just one in three ...
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Article
University of Chester switches childcare voucher providers
The University of Chester has transferred its childcare voucher scheme from Computershare to Apple Childcare Vouchers.The university’s 1,500 employees will have access to the new scheme this month and Apple will be looking to increase the take-up levels through marketing campaigns and onsite visits.The transfer came about to improve the ...
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Article
One in three working parents struggle with childcare costs
More than a third (36%) of working parents have considered staying home because they feel unable to cope with childcare costs.According to a survey by Computershare Voucher Services (CVS), which polled 1,000 working parents, 71% of respondents who use childcare vouchers also spend less than one hour each week planning ...
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Article
Imagine Co-operative Childcare rebrands
Imagine Co-operative Childcare will re-brand at the end of September under the name Co-operative Employee Benefits, broadening its product range beyond childcare vouchers.The first new product it will introduce to market will be bikes for work but the provider is also looking to introduce payroll giving, retail discounts and green ...
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Article
Magnet renews its fleet contract
Kitchen retailer Magnet has renewed its 650-vehicle hire contract with the Leasedrive Velo Group for a further four years.The contract covers its company cars and 40 user-chooser drivers.Lisa Wright, HR director at Magnet, said: "Leasedrive Velo has always provided excellent service levels, pro-active management and continually strives to deliver a ...
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Analysis
Maternity cover under international private medical insurance
If you read nothing else, read thisMost international private medical insurance (PMI) plans include maternity cover.Typical offerings in maternity cover include scans, pre-natal and immediate post-natal check-ups, and childbirth.Maternity cover is offered in low-, middle- or high-level packages that cover from £5,000 to £10,000 of the standard costs.Having a baby ...
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Article
Live Nation seeks harmony through online portal and total reward statements
Live Nation Entertainment has launched an online benefits portal and total reward statements for all its permanent employees.The moves are part of a project to educate staff about their package and harmonise benefits across the organisation. A number of acquisitions and Transfer of Undertaking (Protection of Employment) (Tupe) transfers had ...
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Article
Dev Raval: Are voluntary benefits just a conduit for selling products?
I take the view that a good voluntary benefits offering can add a lot of value to an employer’s overall reward package.A voluntary benefits scheme is the only universal benefits plan where there are no distinctions for service, level or tenure. An employee can engage with it from day one. ...
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Article
Credit Suisse to award one-off bonus to managing directors
Credit Suisse is to reward several hundred managing directors in the UK with a discretionary one-off bonus payment as part of its efforts to remain competitive.The investment bank confirmed the cash payment will be deferred over three years and is linked to its financial performance. This also means the payments ...
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Article
Alliance Boots offloads pensions liabilities
Alliance Boots has outsourced multi-million-pound pension liabilities to the Pension Insurance Corporation (PIC) as part of efforts to ensure the long-term security of benefits accrued in its final salary scheme.As part of the buy-out arrangement the trustees of the Alliance UniChem UK group pension scheme, which has around 3,000 members, ...
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Article
Only a quarter of employers feel prepared to manage the risk associated with reward
Only a quarter of HR professionals believe their organisation is well prepared to manage the financial risks associated with rewarding staff according to research conducted by the Chartered Institute of Personnel and Development (CIPD).The survey CIPD's Managing reward risks: An integrated approach also found that 15% of respondents think that ...
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Article
Proposed reform of local government pensions
The London Pensions Fund Authority (LPFA) has set out proposed measures to reduce the costs associated with the Local Government Pension Scheme (LGPS).LPFA's recommendations include linking pension payments to the consumer prices index (CPI), rather than retail prices index (RPI), increasing the retirement age to 66 from 2016 and changing ...
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Article
Black and Veatch shakes up flexible benefits scheme
Global engineering, consulting and construction company Black and Veatch is considering reviewing the vendors that provide perks for its flexible benefits scheme in a bid to improve service levels and administration.The firm wants to shop around after its staff and HR department reported problems with administration, payment of invoices, communication, ...
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Case Studies
Case Study: EC Harris
Property consultancy EC Harris allocates a pot of money for employees to spend on benefits through its flex scheme each year. Staff receive a fund of between £400 to £3,000 a year, depending on their seniority.The company, which introduced flex in 2005, also allows employees to take any leftover allowance ...
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Case Studies
Case Study: Subsea 7
Undersea engineering company Subsea 7 gives staff a set of flexible perks which they can trade up or down - within certain limits.Jackie Mann, senior HR manager, says: "The use of preset limits ensures employees maintain a minimum level of cover. For example, we ensure all staff maintain group life ...
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Case Studies
Case Study: Towry
Wealth management firm Towry uses a traditional incentive mechanic, a pre-paid MasterCard (Spree card), to deliver flexible benefits for its staff.Employees have the option to load funds onto the Spree card, which is provided by P&MM Motivation, and can get 5-15% savings at selected retailers. Towry also uses the card ...
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Case Studies
Case Study: Boots
Retailer Boots raised its employee satisfaction levels after implementing a points-based recognition scheme.The scheme is centred around Boots Advantage Cards, which are offered to staff in the firm's 2,800 stores as reward vouchers in values of £5 or £20-worth of store loyalty points. Managers can also award points to be ...
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Article
Pepsico peps up its perks
Pepsico UK and Ireland has introduced total reward statements, switched flexible benefits providers and plans to introduce new perks relevant to its next generation of staff.The firm, whose brands include Walkers, Tropicana and Quakers, changed its flex provider from Mercer to Vebnet and issued statements detailing the value of employees' ...
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Article
Catlin adds total reward statements in US and sharesave in Malaysia
Insurance firm Catlin has launched online total reward statements in the US and extended its sharesave scheme to employees in Malaysia.The company launched the US statements at the beginning of August, following the UK launch in April 2010. It is now working on rolling statements out in Europe later this ...