All Employee Benefits articles in Web Issue – Page 420
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Article
Healthcare Research 2011: Attitudes
Most employers feel responsibility is now on the individual to promote wellness, and awareness of musculoskeletal problems has risen considerably, says Tynan BartonWhile a large proportion of employers (69%) believe they share responsibility to promote wellness, more than three-quarters (77%) say accountability lies mainly with the individual. Employers have put ...
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Article
Healthcare Research 2011: Key findings
Our healthcare survey was carried out in April 2011, with analysis based on 356 responses from Employee Benefits readers and users of www.employeebenefits.co.ukKey findings69% believe they are partly responsible for promoting wellbeing among workers.42% say reducing musculoskeletal problems is a key objective in providing health benefits.38% have implemented a stress ...
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Analysis
Preparing for the costs of 2012 pension reforms
If you read nothing else, read this... Minimum employer contributions and auto-enrolment, if it results in increased pension scheme take-up, could lead to a rise in pension costs for employers when the 2012 reforms come into effect. There are a number of actions employers could consider to manage these increased ...
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Case Studies
Case study: Santander accounts for many changes after acquisitions
Mergers and acquisitions are not uncommon in the banking sector and 2008 was a busy year on this front. Ian Cunning, senior reward manager, human resources at Santander, says: "Towards the end of the year we acquired Alliance and Leicester, the retail deposit arm of Bradford and Bingley and the ...
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Analysis
Mergers & Acquisitions: DB pension liabilities
Defined benefit pension liabilities can play a big part in merger talks, says Sarah ColesIn December 2008, a potential merger between Qantas and British Airways collapsed, with BA's £1.7 billion defined benefit (DB) pension liability cited as a major reason. This was perhaps unsurprising, given that BA's pension liabilities were ...
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Case Studies
Case study: Integration no problem at Informa after acquisitions
Having grown significantly through acquisitions over the past 13 years and being the result of a merger itself, Informa has seen its HR and reward department play a key role in integrating businesses into its benefits package.A vital part of the acquisition process is communicating with new staff. This is ...
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Analysis
Mergers & Acquisitions: Sponsor's comment: Reward teams help seal the deal
HR has an essential role to play in a deal’s success, says Steve Allan, M&A practice leader for EMEA at Towers WatsonAs the economic recovery continues, merger and acquisition (M&A) activity is a significant route to growth for many organisations. The Towers Watson Quarterly Performance Deal Monitor, in conjunction with ...
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Analysis
Mergers & Acquisitions: Total reward aids integration
If you read nothing else, read this…Highlighting employees’ pay and benefits package can help to bring a new organisation together.A reward audit should be the first stage of the harmonisation process.A flexible benefits scheme can help to harmonise provision, but replicating previous packages may still be tricky.A total reward strategy ...
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Analysis
Mergers & Acquisitions: Pay restructuring may be needed
If you read nothing else, read this…Inheriting another organisation’s pay and salary levels can throw up a number of challenges for employers.Where two different pay scales exist, employers may need to start from scratch, creating new job titles and descriptions.Employee benefits must also be taken into account, because these may ...
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Analysis
Mergers & Acquisitions: The DC pension choices
If you read nothing else, read this...There is no single right answer on what do about DC pensions provision following a merger or acquisition.Some employers will launch a brand new scheme for all staff, others will extend existing plan and others will do nothing.Employers must consider factors such contribution levels ...
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Analysis
Mergers & Acquisitions: Due diligence is vital
If you read nothing else, read this...De-risk the pension scheme(s) the less risk and lower liabilities, the better.Check contracts. Are there any difficult commitments lurking?Check the rules on benefits will the sale trigger any difficult payments, such as stock option payouts?Communicate. Employees need to know you are preparing for a ...
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Analysis
How does the Bribery Act affect employers?
If you read nothing else, read this… Reward can be used to drive cultural change, whether it relates to the Bribery Act, an organisation’s carbon footprint, encouraging a high-performance culture, or reducing risk-taking in financial services. Employers need to ensure that their mission statements and values are backed up by ...
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Article
Trader Media adds to voluntary benefits scheme
Trader Media has added health screening, travel insurance and an employee discounts site to its voluntary benefits plan.The scheme, called My Trader World, was launched in 2010. This year’s additions were made as the result of employee feedback from across the organisation.Health screening is available for employees and for their ...
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Article
Youth Hostel Association (YHA) launches voluntary benefits scheme
The Youth Hostel Association (YHA) has launched a voluntary benefits scheme to group together all of its standalone perks.As well as grouping together its defined contribution (DC) pension scheme, bikes for work, health cash plan, dental plan and physiotherapy plan, the hostelling association has introduced an employee discount scheme and ...
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Analysis
Keeping DC pension members aware of fund investments
If you read nothing else, read this… Employers have no legal obligation to ensure the investments of members in contract-based defined contribution schemes are on target for retirement. But employers should educate staff about the level of contributions required to build a decent fund. Communications should be kept ...
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Case Studies
Case study: BAE Systems reshapes bonus scheme
Defence firm BAE Systems restructured its bonus scheme for executives as part of its efforts to reward those who contribute to its objectives, in order to follow recommendations set by Lord Woolf, the Lord Chief Justice, who started examining its business practices in 2007 when an investigation by the Serious ...
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Article
The Eastern Shires Purchasing Organisation introduces voluntary benefits scheme
The Eastern Shires Purchasing Organisation (ESPO) has introduced a voluntary benefits scheme for the public sector organisations within its region.Any national public sector organisation can offer the scheme to its staff simply by completing a form through the ESPO.The local authority purchasing consortium set up the scheme to simplify staff ...
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Article
Kidsunlimited launches voluntary benefits scheme for staff
Kidsunlimited launched a voluntary benefits scheme on 1 June for its 1,600 UK employees.The scheme, provided by LogBuy, offers deals and discounts from leading brands nationwide and local retailers.Rebecca English, sales and marketing administrator at Kidsunlimited, said: “We conduct an annual engagement survey for employees and one of the clear ...
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Article
E.On sees increase in flexible benefits take-up
Almost half (45%) of employees at utilities firm E.On submitted new, or changed, choices in this year’s flexible benefits enrolment period.This figure is up from 32% during the 2010 enrolment period and 21% in 2009 when the scheme was first launched.The enrolment period, which opened in March 2011, saw 85% ...
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Article
Confessions of a benefits manager: Missed connection
The new HR director’s request for a conference call sends Candid into an endless cycle of frustration – and in her own time, tooEvery hour at work is an hour when I am not doing something more interesting instead. Therefore, people who cause me to work late and miss valuable ...