All Employee Benefits articles in Web Issue – Page 452
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Employee Benefits Live: Employers should consider the needs of low paid staff
Stephen Bevan, director of the Centre for Workforce Effectiveness, at The Work Foundation, sheds light on the needs of low paid staff during the age of austerity.Addressing delegates during his keynote session on the second day of Employee Benefits Live 2011, Bevan said there were 10 million workers in the ...
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Employee Benefits Live: Level of pay awards could rise in 2012 but pace will be slow
Levels of pay awards could rise in 2012 but the pace will be slow, said Ken Mulkearn, editor of the IDS Pay Report, in his session at Employee Benefits Live 2011.Outlining the latest picture on basic pay awards, Mulkearn showed that 3% has been the single most popular pay rise ...
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Employee Benefits Live: British Airways consolidates healthcare schemes into self-funded plan
British Airways (BA) introduced a self-funded health plan in order to create a tailored healthcare benefit for its employees.†Speaking on day two of Employee Benefits Live, Janine Sparks, reward consultant at BA, explained that, following a strategic review, the airline chose to consolidate its previous disparate healthcare schemes into a ...
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Employee Benefits Live: Reward for FTSE 100 executives has almost doubled in five years
The remuneration package of FTSE 100 executives has almost doubled in five years which has raised questions over whether reward is matched with company performance.During his session on creating reward packages for high earners at Employee Benefits Live, Stephen Cahill, a member of the Chartered Institute of Personnel and Development ...
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Employee Benefits Live: BP engages generation Y
The adoption of new technology by generation Y has led many employers, including BP, to update their benefits and hiring programmes, primarily by moving these online.Key traits exhibited by generation Y include: flexibility, a willingness to relocate, a strong desire to achieve, pushiness and ambition.Speaking in a session titled ‘Are ...
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Banks urged to cut back on bonuses in the face of economic uncertainty
Banks have been told to reduce bonuses and shareholder dividends in the face of worsening economic conditions and the European debt crisis.The Bank of England’s new Financial Policy Committee (FPC) said banks should strengthen their finances by ensuring that discretionary payments reflect any fall in profits.A statement from the FPC ...
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ABI publishes executive remuneration guidelines
The Association of British Insurers (ABI) has published clear guidelines on executive pay.The revised Principles of executive remuneration report, in addition to the new Report on board effectiveness, aim to help organisations better understand the views of institutional investors on effective boardroom performance and executive pay.The revised principles are the ...
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Employee Benefits Live 2011 brings industry together
View video of Employee Benefits Live 2011View Twitter feed: #EBLiveAdd comments, inputs and questions below reportEmployee Benefits Live 2011 brought together all the key players in the benefits and reward industry for two days of networking, attending conference sessions and meeting over 100 leading suppliers.The event opened with a key ...
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Wayward cow lands advertising job
Taking the bull in a china shop approach may land you a top job and propel you to celebrity status.It certainly worked for a wayward cow in Austria which wandered into a branch of Intersport based in Serfaus, one of the country’s skiing hot spots.†Store staff had to used a ...
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Friends Life research: Female employees' pension contributions fall year on year
Female workers in most age groups have seen their pension contributions cut year on year, according to research by Friends Life.The Friends Life workplace savings index revealed that the rolling 12-month average pension contribution for women under 30 decreased by £2 to £128 a month, while women aged 30 to ...
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Hewitt New Bridge Street research: A quarter of FTSE 100 companies have frozen salaries
Around a quarter of FTSE 100 companies have frozen salaries, according to research by Hewitt New Bridge Street. Where salaries were increased for 2011, this was typically a modest 3%, broadly in line with inflation and workforce salary increases.The report, FTSE 100 directors’ remuneration 2011, also showed the median value ...
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Default retirement age to be scrapped on 1 October
The default retirement age (DRA) will be scrapped from 1 October, after a phase-out that started on 6 April 2011.The removal of the DRA means employers will no longer be able to issue notifications for compulsory retirement using the DRA procedure.Although the government is removing the DRA, individual employers will ...
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The Agency Workers Regulations comes in on 1 October
The Agency Workers Regulations (AWR) will come in on 1 October.The legislation means that, after 12 weeks of employment, temporary agency workers will have the right to the same basic working and employment conditions as if they had been recruited directly by the hiring organisation.This applies to pay, working hours, ...
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National minimum wage to rise on 1 October
The national minimum wage will increase from 1 October.The main rate for employees aged 21 and over will increase 2.5% to £6.08 per hour.The rate for employees aged 18-20 will go up to £4.68 per hour.The rate for employees aged 16-17 will be £3.68 per hour.The national minimum wage rates ...
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Ernst & Young's maternity coaching webinars see increased take-up
Ernst & Young has seen a rise in the take-up of its maternity coaching webinars since they were launched in February 2011. The coaching covers all stages of pre and post-maternity, and help staff manage the transition in and out of the workplace successfully. So far, 500 employees have booked ...
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CIPP research: Less than 10% of UK workers have option of flexible working
Less than 10% of UK employees have flexible working arrangements as part of their contract, according to research by the Chartered Institute of Payroll Professionals (CIPP).The research also found that over one-third (36%) would like to be able to work from home under flexible working arrangements. Nearly half (43%) were ...
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Sodexo adds Smartphone access to childcare vouchers
Exclusive: Sodexo Motivation Solutions has launched a product that allows its childcare voucher scheme users to access their accounts using a Smartphone.Employees can access a mobile-enabled website which works on all handsets. They can log in, view their statement, make a payment, and check which payments are pending. The site ...
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Alphabet finalises acquisition of ING Car Lease
International fleet management firm Alphabet has completed its acquisition of ING Car Lease.The acquisition, which was announced in July, was for a purchase price of €637 million, and was completed on 30 September.The integrated organisation will operate under the name Alphabet.The new organisation now has more than 460,000 financed cars ...
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Sapient adds pension fund choices
Technology firm Sapient has halved its pensions annual management charge (AMC) by switching providers for its group personal pension (GPP).The firm has also introduced a self-invested personal pension (Sipp) and 12 core fund ranges.Sapient switched from Friends Life to Scottish Widows to reduce its AMC from 0.8% to 0.4%. In ...
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Aviva adds employee assistance programme to group income protection policies
Aviva has added a free employee assistance programme (EAP) to its group income protection policies.The EAP has been developed to help employers recognise and respond to stress in the workplace and increase the support offered through income protection. It enables employees to access face-to-face counselling if they need it.The programme ...