All Employee Benefits articles in Web Issue – Page 606
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Article
Employers plan to evolve health strategies
EXCLUSIVE: Almost two-thirds (69%) of employer respondents plan to develop their health and wellbeing strategies over the next two or three years, according to research by Towers Watson.Its Health, wellbeing and productivity survey 2012-2013 found that 15% of respondents plan to significantly increase their support over the next two or ...
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Article
ITV awards 2.75% pay increase for staff
ITV has agreed to a 2.75% increase for all employees earning £60,000 and below for 2013.Any increase for staff earning above £60,000 will be linked to their performance rating for 2012.The broadcaster also awarded its chief executive, Adam Crozier, with a £3.8 million remuneration package comprising base salary and share ...
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AnalysisHow to review a benefits strategy
IF YOU READ NOTHING ELSE, READ THIS…Employee benefits reviews are driven by an employer’s desire to control costs, retain talent and harmonise their perks across multiple business sites.Reviews should be based on clear business objectives and employee feedback.Employers should ensure that any benefits they want to replace do not form ...
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Case Studies
Ramboll reviews benefits after merger
Gareth Williams, human resources director at Ramboll, says: “We had two aims: to look at affordable ways of aligning two sets of total remuneration and benefit practices across the new business, and to test our offering and ensure we were competitive in attracting, retaining and engaging our staff.”Williams says high ...
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Opinion
Jenna Poon: Legal pitfalls of changing a benefits strategy
Employers need to ensure that the benefits being replaced do not form part of an employee’s terms and conditions, that they are not cemented in contracts of employment. If this is the case, an employee’s consent will be required in order to change those benefits.When examining employment contracts, any collective ...
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Article
Duncan Brown: Issue avoidance puts us in peril
Even without the threat of imprisonment, avoidance is a well-known psychological phenomenon, affecting individuals and organisations, according to Ralph Kilmann, chief executive and senior consultant at e-learning conflict resolution firm Kilmann Diagnostics, who co-developed a technique to measure it. A short-term focus and superficial actions are common symptoms.I think there ...
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Article
Debbie Lovewell: Running out of time on RTI
This is an issue employers have been grappling with ahead of the introduction of real-time information (RTI) reporting on 6 April, with many concerned over payroll providers’ preparedness to deal with it.A survey of HR and payroll professionals published by PricewaterhouseCoopers in February found that one in four believed their ...
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Opinion
Liz Hunter: Online portals are a must-have
This doesn’t seem to reflect the trend among businesses large and small towards online communication with their staff, and certainly doesn’t fit with our experience at RM2, which indicates interest in branded web portals for share plans is rising.Allowing staff to access their benefits on one comprehensive intranet or microsite ...
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Article
Lisa Purcell: Should employers encourage staff to take up fitness activities?
However, we are likely to be exhausted by stress and mental strain rather than by physical activity.The British Heart Foundation (BHF) research, carried out in December 2012 with YouGov, found that nearly one in five workers (18%) do absolutely no physical activity during working hours and only 27% manage 20 ...
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Article
Alice Sinclair: Should employers encourage staff to take up fitness activities?
Participation in fitness activities can also relieve stress and lead to reduced absenteeism, better employee engagement and an improved employer profile.At the Institute for Employment Studies, we have reviewed a variety of success stories where employers have set up fitness classes, organised regular walks, subsidised gym membership and encouraged staff ...
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Case StudiesGSK wants staff to plan their future
GlaxoSmithKline (GSK) UK’s headquarters in Brentford, Middlesex, provides employees with their own self-contained town. It boasts a high street with cafés, a sit-down restaurant, bike shop, flower shop, dry cleaners and a gym.Harsha Modha, director, UK benefits at GSK, says: “We encourage employees to walk along our street and have ...
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Article
Half financial services staff received no pay rise in 2012
More than half (52%) of banking and financial services professionals surveyed did not receive a pay rise in 2012, although 60% expect to receive one in 2013, according to research by recruitment consultancy Robert Walters.The research found that where respondents did receive pay rises in 2012, most were modest at ...
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Article
Employers pay record amounts into DB pension schemes
Employers paid record amounts into defined benefit (DB) pension schemes in 2012, according to research by the Office for National Statistics (ONS).An analysis of the ONS’ Annual survey of hours and earnings, by consultancy Towers Watson, revealed that:Total employer contributions to self-administered pension funds rose from £39 billion in 2011 ...
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Article
Aviva cuts bonuses and pay after shareholder revolt
Aviva did not award bonuses to executive directors in 2012 and is to freeze executive directors’ base pay in 2013.In its 2012 Full year results, the insurer showed that it paid its directors £4.77 million in 2012, down from £7.28 million in 2011.This comes a year after Aviva lost a ...
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Article
Fujitsu invests £800m in DB pension schemes
Fujitsu Limited has invested a special payment of £800 million into three of its UK defined benefit (DB) pension schemes.The investment is aimed at improving the funding position of the schemes, which cover more than 21,000 members.It has also negotiated reduced ongoing annual contributions with the pension scheme trustees.Steve Clayton, ...
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Article
Government consults on auto-enrolment
The Department for Work and Pensions (DWP) has launched a consultation for proposals to improve the automatic-enrolment process.It is seeking detailed feedback on its proposals from employers and pension and payroll providers from 25 March 2013 to 7 May 2013.The proposals include:Streamlining the process for assessing who is eligible for ...
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Article
Lloyds Banking Group reduces bonus pool
Lloyds Banking Group reduced its bonus pool by approximately 3% to £365 million in 2012, and will not increase salaries in 2013.The group’s 2012 Annual reports and accounts showed the greater impact of this reduction was applied to senior staff, and managed in the context of business and individual performance.It ...
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Article
Chief executive to leave The Pensions Regulator
Bill Galvin will step down from his role as chief executive at The Pensions Regulator (TPR) in June to take up a new role as group chief executive at the Universities Superannuation Scheme (USS).TPR will shortly begin a recruitment process to find Galvin’s successor. Until a new chief executive is ...
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Article
Pensions gender gap wider than in 2012
Women retiring this year expect their annual retirement income to be more than a third (36%) lower than men’s, adding up to a pension gender gap of £6,500, according to research by Prudential.Its Class of 2013 study found that the pension gender gap is 13% wider than it was in ...
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Article
New pension partner for housing group
The National Housing Federation has appointed accountancy firm KPMG as its pensions partner.The partnership will allow the federation to offer its members guidance and assistance on pension issues, such as the introduction of auto-enrolment, pensions tax changes, and the latest valuations of the Local Government Pension Scheme and Social Housing ...