All Employee Benefits articles in Web Issue – Page 404
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Article
Aegon UK to enter corporate wrap market
Aegon UK will enter the corporate wrap market in autumn 2011 as it accelerates its plans to focus on the at-retirement and workplace savings markets.The new product, which will be launched with platform specialist Novia, will be offered alongside Aegon's existing range of pensions, investment and protection products.Aegon will begin ...
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Case Studies
Case study: City and Guilds takes advantage of partner suppliers for benefits
Vocational qualification awarding body City and Guilds saw the need to deliver value to staff at a time when reward is under pressure, so it took advantage of the partnership between Thomsons Online Benefits and Asperity Employee Benefits.Under the providers’ joint venture, formed in 2008, Thomsons offers Asperity’s Reward Gateway ...
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Analysis
Making defined benefit pensions more affordable
If you read nothing else, read this... Many DB pension schemes are closing, mostly because they are in deficit. Employers that run DB schemes feel these help recruitment and retention, and are the best plan to offer. DB pensions can be made cheaper by freezing accruals, converting to average career ...
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Article
Interview with Stephen Gambles, head of reward at Alliance Medical
Good communication can be the difference between success and failure for a compensation and benefits professional, says Stephen Gambles, head of reward at Alliance MedicalStephen Gambles, head of reward at Alliance Medical, admits it was a complete fluke that he ended up working in compensation and benefits.After graduating from university, ...
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Case Studies
Case study: Employee savings check out at Asda
Asda offers its staff a 10% discount card after three months service. The card can be used in any Asda store in the UK and in any global Walmart, Asda's parent company. Using the card, Asda's 175,000 staff save over £60 million a year.When Asda launched an online voluntary benefits ...
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Case Studies
Case study: Yorkshire Water goes back to paper total reward statements
Yorkshire Water, which first introduced total reward statements in 2006, tried issuing them online in 2007 but hassince returned to paper.Its change of heart followed lower-than expected logins achieved by the online statements, which it put down toemployees needing to remember to log in – a particular issue for its ...
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Article
Confessions of a benefits manager: Freedom of speech
The annual employee survey might seem a cosmetic exercise, but perhaps it’s a chance to express some home truths, says CandidIt might be a waste of everyone’s time and money, but, come what may, we send a survey to all staff every year. It is not exactly the same survey ...
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Analysis
Own-product benefits are a big motivator for staff
If you read nothing else, read this… Many organisations offer their own products or services to staff free of charge or at a discount, with many such employers to be found in the retail sector. These can be offered as core benefits, as well as through incentive and recognition ...
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Analysis
What does the future hold for flexible benefits?
If you read nothing else, read this… Flexible benefits, as currently known, are evolving and changing shape. The line is blurring between what has been traditionally known as flexible and voluntary benefits schemes. Flexible benefits schemes are covering a wider range of perks, such as pensions and financial ...
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Analysis
Changing times in the benefits provider market
If you read nothing else, read this… The benefits provider market is in a constant state of change as organisations merge, move around or withdraw from certain sectors. Forthcoming legislation, such as the Retail Distribution Review and the 2012 pension reforms, can be credited as drivers behind changes in the ...
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Analysis
Total reward statements: Is online or paper best?
If you read nothing else, read this…The decision to offer online or paper-based statements can depend on the size, nature and demographics of a workforce, and the available budget.Online is typically the most popular method, but some employers are moving back to paper statements.Online statements can be cheaper and updated ...
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Article
The Big Question: Should pensions tax relief be removed to create a flat society?
This question sparked off a heated debate at the Employee Benefits Pensions Summit 2011. Two of the fiercest debaters elaborate on their opposing views. Express your view here.Michael Johnson, research fellow at the Centre for Policy Studies:Up-front tax relief on pension contributions costs some £30 billion a year, paid predominantly ...
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Case Studies
Case study: Tasty bonus for McDonald’s employees
McDonald’s gives its 85,000 UK staff an employee discount card as soon as they begin work with the chain.The card offers staff five standard discounts, including a medium extra value meal for £2.99, a breakfast extra value meal for £1.99, or a toasted deli sandwich meal for £2.99. There is ...
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Case Studies
Case study: Salary sacrifice buoys Severn Trent Water staff
Severn Trent Water introduced its SmartWater benefit in January 2010, which enables employees to pay their water bill through a salary sacrifice arrangement.The company bills about 3.5 million customers throughout the Midlands, a number of whom are its own employees. In the first year of SmartWater, 1,500 of the firm's ...
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Case Studies
Case study: Cashing in on staff discounts at Sainsbury's
Lyn O’Dwyer has been a night shift replenisher at Sainsbury’s Purley Way store in Croydon for over two years. She says night shifts give her the chance to attain a healthy worklife balance.When asked what she likes best about working for Sainsbury’s, O’Dwyer says: “My colleagues. I really enjoy working ...
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Case Studies
Case study: Peel Hunt finds harmony in retirement planning
After a staff buyout from KBC Bank, broking house Peel Hunt had the opportunity to create its own reward strategy to increase employee engagement.†Over the years, Peel Hunt had accumulated three pension schemes with different providers, and it turned to Thomsons Online Benefits to help it harmonise these schemes to ...
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Case Studies
Case study: National Grid stays offline for total reward statements
National Grid, which has offered total reward statements for over five years, decided against moving online when the statements were relaunched in 2010.The relaunch was part of a wider strategy to enhance the employer brand after a staff survey indicated a lack of understanding of the total package.Online statements were ...
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Analysis
How to reduce knock-on effect of pension charges
If you read nothing else, read this... Employers can negotiate lower annual management charges with their provider if they have a big workforce. Charges on GPPs tend to be more competitive than Sipps because their funds tend to be less specialised. Charges associated with contract-based pensions could increase after auto-enrolment ...
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Article
Acco launches global employee assistance programme
Office products supplier Acco Brands has launched an international employee assistance programme (EAP) for staff working across its European operations.The company, which owns the Rexel brand, has an existing EAP for its 400 UK staff, but saw a need to provide support to nearly 600 employees who work in 13 ...
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Article
Vinci Construction adds to flexible benefits scheme
Vinci Construction UK has added gym discounts, holiday trading, dental and optical discounts, and leave for volunteering to irs flexible benefits scheme, as well as introducing a voluntary benefits scheme.Its flexible benefits scheme, which is provided by Personal Group, was launched in April 2010, and the construction firm added in ...