All Employee Benefits articles in Web Issue – Page 626
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Opinion
Pádraig Floyd: A pension warning for employers on 'pot follows member'
The Department for Work and Pensions (DWP) has now published details of rules to govern what must happen to an employee’s pension when they leave an employer. This regulation, generally referred to as ‘pot follows member’, makes provision for any pension pots of less than £10,000 to transfer with the ...
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Article
Winners of the Employee Benefits Awards 2013 announced
The Employee Benefits Award winners 2013 were announced on 7 June during a summer party held at the Artillery Garden at the HAC, London.BMW (UK) won the prestigious Grand Prix award at the Employee Benefits Awards 2013. The Grand Prix is awarded to the most outstanding winner of an Employee ...
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Article
All-employee recognition data most valued
Almost three-quarters (74%) of respondents said that ‘crowdsourcing’ recognition data provides the most accurate picture of employee performance, according to research by Globoforce.The Spring 2013 Society for Human Resource Management/Globoforce Employee recognition survey, which polled 800 HR professionals, defines ‘crowdsourcing’ as the collection of feedback from all employees within an ...
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Article
Shadow pensions minister condemns 'flawed' pensions market
The shadow pensions minister has called the current workplace pensions market flawed.Labour’s Gregg McClymont, MP, (pictured), writing in the political blog Left Foot Forward, said that the pensions market does not operate like a normal market where the consumer exercises choice.He added: “It’s the employer, not the employee, that chooses ...
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Article
Unity Trust Bank launches share ownership plan
Unity Trust Bank has launched a share ownership plan for its employees.The plan involves the creation of an employee benefit trust that will acquire and distribute shares to staff.The bank has also provided a £50,000 gift to the trust to set up the scheme and acquire shares from its current ...
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Article
Ladbrokes pension awarded PQM
Ladbrokes has been awarded a Pension Quality Mark (PQM) for its stakeholder defined contribution (DC) pension scheme.The benchmark, awarded by the National Association of Pension Funds (NAPF), is given to employers that provide good quality defined contribution (DC) pension schemes to their staff. It recognises DC schemes that have total ...
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ArticleJLT sees 9.3% average auto-enrolment opt out
EXCLUSIVE: JLT Employee Benefits has recorded a 9.3% auto-enroloment opt-out rate among its employer clients.The employee benefits adviser used BenPal, its benefits management platform, to help 50 large employers auto-enrol their employees.The organisation assessed 287,712 candidates, enrolled 11,162 employees and saw 1,037 employees opt out of their employer’s auto-enrolment pension ...
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Article
Cost is main influence on healthcare perks
EXCLUSIVE: More than three-quarters (78%) of respondents said cost is the main influencer behind their decision to buy, or continue to offer, healthcare benefits, according to exclusive research by Employee Benefits.The Healthcare research 2013, which surveyed 376 HR and benefits professionals, found that only 7% calculate the return on investment ...
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Article
Network Rail awards executive bonuses despite failings
Network Rail has awarded its five executive directors annual bonuses despite its remuneration committee reporting an unsatisfactory level of workforce safety, which has resulted in the committee using its discretionary powers to reduce the overall bonus award by 10%.The rail organisation’s remuneration committee felt that more could have been done ...
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Article
DOD’s blog: Does generation Y really communicate differently?
I am always a little suspicious about analysing behaviours based on generations. I get that you are shaped by your world experience, but I do think that too many attributes are assigned to generations when they should be assigned to age.Generation Y is seen as lacking loyalty because they have ...
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Opinion
Cary Cooper: How to build sustainable staff motivation
I have real doubts that sustainable motivation comes from a bonus culture. As we have seen in the banking industry, it had the unintended consequence of encouraging risk-taking behaviour that ultimately created the financial crisis.For me, sustainable motivation comes from some sense of ownership of success. This can come in ...
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Article
Could employee cooking lessons catch on?
A British cookware organisation is teaching its US employees how to make a Yorkshire pudding.ProCook, which has stores in Maine and New Hampshire, have created one-hour training courses so that their sales staff can tell customers the difference between the British favourite and the American popover (light hollow roll made ...
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Article
Bupa and AIG partner for travel insurance service
Bupa and AIG have formed a partnership to develop a range of products and services for the travel insurance market.The products and services, which will be rolled out over the next two years, will be available for all sizes of employers.The partnership also brings together Bupa’s travel insurance with AIG’s ...
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Article
Employers are submitting RTI despite confusion
A majority (84%) of employers are now submitting pay-as-you-earn (PAYE) in real time, but confusion still remains about the real-time information (RTI) reporting system, according to research by payroll provider Sage. The monthly Sage omnibus survey, which questioned more than 680 employers, also revealed that four out of five (81%) ...
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ArticleSocial media tools not seen as cost effective
More than half (56%) of respondents currently use social media tools as part of their communication with employees, according to research by Towers Watson.The 2013 Towers Watson Change and communication ROI survey, which polled 290 large and medium-sized organisations in Asia, Europe and North America, found, however, that only between ...
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Article
Tribunal says employers could set retirement age
The Employment Tribunal (ET) has judged that compulsory retirement might still be justified in some circumstances.On 30 May the ET ruled on the Leslie Seldon case which was brought because Seldon was required to retire at age 65 from the partnership of the law firm Clarkson Wright and James.At the ...
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Supplier article
Health Shield highlights benefits of voluntary corporate health cash plans
The non-profit-making friendly society aims to highlight the benefits of implementing a voluntary corporate health cash plan among human resources professionals, particularly if they do not have a budget for company funding.Voluntary corporate schemes are completely cost free for employers and allow them to help employees meet the cost of ...
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Article
Liability-driven pension investment increases to £446bn
Liability-driven pension investment (LDI) increased by 11% in 2012, according to research by KPMG Investment Advisory.The KPMG 2013 LDI survey, which questioned 30 institutional managers, found that LDI now covers £446 billion of pension liabilities, with 686 UK pension scheme mandates now employing LDI.However, the provision of LDI remains dominated ...
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Article
E.On raises pensions take up to 92% after auto-enrolment
EXCLUSIVE: E.On has increased the take up of its group personal pension (GPP) plan to 92% after a year of communicating auto-enrolment.The auto-enrolment process began for the utility business about 18 months ago, when it looked at the options it had around complying with the legislation.The utilities business decided to ...
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Article
Unaffordable retirement will impact firms' ability to recruit staff
According research by Hymans Robertson two-thirds of respondents to believe that almost half their workforce will be unable to retire at the state pension age due to inadequate pension savings.Its research, conducted among 200 HR directors and managers, found that 78% of respondents have considered the impact this would have ...