All Employee Benefits articles in Web Issue – Page 477
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EXCLUSIVE: Killik Employee Services launches web portal for executive share plans
Killik Employee Services has launched a web portal to help employers illustrate the value of executive share plans.The portal enables staff to conduct online transactions and model the value of their shares if they hit performance conditions. An instant messenger system allows contact with share scheme administrators and brokers.Employees can ...
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EXCLUSIVE: Employers will impose pay freezes to save jobs
Troubled employers will impose pay freezes to save jobs in the next 12 months, predicts Charles Cotton, public policy adviser, reward at the Chartered Institute of Personnel and Development (CIPD).“Organisations seem more prepared to freeze pay than to make redundancies,” he said.According to the CIPD’s Labour market outlook, published in ...
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EXCLUSIVE: Kate Griffiths-Lambeth joins Stonehage
?Stonehage has appointed Kate Griffiths-Lambeth head of global HR and executive director.Her previous roles include organisational effectiveness director and interim head of talent, leadership and development at Royal Bank of Scotland, HR director at White and Case, and various HR roles at Lloyds TSB.Read more about careers
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EXCLUSIVE: Law firm D Young awards staff two bonuses
All 150 employees at law firm D Young received two bonuses in 2011. Handed out in June and November, the payments were 10% higher, on average, than those awarded in 2010.Jennifer Mead, HR manager at D Young, said: “We are really pleased to have hit the targets to pay bonuses ...
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Companies set to report widening pension deficits
Companies preparing their accounts for corporate years ending 31 December could be set to report widening pension deficits, according to consultancy Towers Watson.It estimates that, since the end of 2010, aggregate pension deficits in FTSE 100 companies' accounts have grown from £40.9 billion to £48 billion.John Ball, head of UK ...
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Liverpool Community Health appoints new HR director
Liverpool Community Health (LCH) has appointed a new director of human resources.Michelle Porteus joins the NHS trust’s board of directors and will lead the human resources, organisational development and communications teams at LCH.Porteus gained Chartered Institute of Professional Development (CIPD) qualifications at Salford University and has since spent 14 years ...
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Gulf between private and public sector pensions is growing
The gulf between private and public sector pension provision is growing, according to research by the Association of Consulting Actuaries (ACA).The 2011 Pensions trends survey found that nine out of ten private sector defined benefit (DB) schemes are now closed to new entrants, and four out of ten closed to ...
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Staff spend up to 21% of salary on travel fares
Hay Group’s latest PayNet UK Salary Tracker shows that some employees spend up to 21% of their annual salary on their journey to work, although average commuting expenditure is 8% of salary.The average travel fare rise of 5.9% was announced in December putting the average annual season ticket at £2,028, ...
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Home Group uses competition to increase take up of voluntary benefits
Home Group, the affordable and supported housing provider, has increased engagement and take-up of its voluntary benefits scheme following a competition among staff.The competition, run in conjunction with its employee discounts provider Asperity Employee Benefits throughout November 2011, was a communications initiative to drive take up and find out what ...
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Woolworths Group Pension Scheme transfers to Pension Protection Fund
The Woolworths Group Pension Scheme is ready to be transferred to the Pension Protection Fund (PPF), three years after the retailer became insolvent.The scheme had more than 10,000 members and a number of legally separate employers, all of which had separate responsibilities for different tranches of members. All also become ...
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Pay rises and bonuses leave employees dissatisfied
Employees’ satisfaction with pay rises and bonuses decreased in 2011, according to research by the Chartered Institute of Personnel and Development (CIPD).The annual Employee attitudes to pay survey found that the net satisfaction score among those who received a pay rise was 56 in 2011, down from the 61 recorded ...
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Towers Watson launches new talent reward website
Towers Watson has launched a new talent reward website, aimed at enabling employers to deliver comprehensive talent management and reward programmes.The TalentReward website was built based on feedback from more than 300 of the consultancy's clients, as well as its talent and reward consultants.Some of its features include:Career development: The ...
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UK pensions face potential threat from EU law
UK occupational pensions face potential threat of closure if a new European Union (EU) law comes into effect.The National Association of Pension Funds (NAPF) and PricewaterhouseCoopers (PWC) have warned that the review from the European Insurance and Occupational Pensions Authority (EIOPA) on the Institutions for Occupational Retirement Provision (IORP) Directive ...
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Pay and pension cuts for Singapore’s ministers
Singapore’s prime minister has agreed to take a pay cut of 35% –but will still be one of the world’s best-paid leaders.A review committee appointed to look at the salaries of Singapore’s ministers recommended that prime minister Lee Hsien Loong’s annual salary be cut to 2,200,000 Singapore dollars (£1.1 million).The ...
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Over half of Irish professionals expect salaries to remain constant in 2012
Over half of Irish professionals expect their salaries to remain the same over the next 12 months, according to research by Morgan McKinley.The Morgan McKinley Ireland salary survey 2012 found that 21% of human resources managers and business leaders surveyed predict salaries will increase, albeit modestly, by approximately 1-5%.However, 13% ...
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Work-life balance biggest health issue for UK employers
Maintaining a good work-life balance for employees is the top health issue for employers, according to research by industry body Group Risk Development (Grid).Just over a fifth (21%) of respondents to its Group risk employer survey said this was the case, while 19% ranked stress and mental health issues as ...
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North Merseyside NHS trusts sign new HR and payroll services contract
Ten NHS trusts in North Merseyside have signed a new contract with Capita for the delivery of transactional HR and payroll services.The new seven-year agreement will also enable other trusts from the north west of England to procure these services from Capita.Raj Jain, chief executive of Liverpool Heart and Chest ...
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Shell closes final salary pension scheme to new members
Shell has closed the last chapter on final salary pension schemes with the announcement that it plans to close its scheme to new members; the last such scheme in the current FTSE 100 that was open to new staff.Shell currently employs 6,500 people in the UK and has around 30,000 ...
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David Cameron signals crackdown on executive pay
Prime minister David Cameron has pledged to tackle large payouts for executives dismissed because of poor performance in an interview with the BBC’s Andrew Marr on 8 January, Cameron promised “clearer transparency, in terms of the publication of proper pay reports and binding shareholder votes”.He also hinted that legislation around ...
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Pilkington secures longevity arrangement for pension scheme
Glass manufacturer Pilkington has put in place a longevity insurance arrangement for its superannuation pension scheme.The arrangement, implemented by provider Legal and General, will insure the scheme against the risk of 11,500 pensioners living longer than expected, with around £1 billion in associated liabilities.Tom Ground, head of business development at ...