All Employee Benefits articles in Web Issue – Page 631
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Article
British Airways pension deficit increases by £100m
British Airways has seen a £100 million increase in the deficit of its two defined benefit (DB) pension schemes since 2010.The combined technical deficit at 31 March 2012 was £3.3 billion, compared to £3.2 billion at 31 March 2010.The increase is due to a reduction in the interest rates used ...
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ArticleMost common benefits to combat stress
EXCLUSIVE: Less than half (46%) of respondents have specific benefits and strategies in place to reduce workplace stress, according to research by Employee Benefits.The Employee Benefits Healthcare research 2013, which surveyed 376 HR and benefits professionals, found that the most common benefits to combat stress in the workplace include a ...
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Case Studies
Rise in staff absence prompted Quintiles to adopt stress policy
It introduced its current stress management policy in 2012 as part of its holistic health and wellbeing strategy.A driving factor behind the stress management policy was an increase in stress-related sickness absence. To address this, Quintiles formed a health management team, which concluded that the organisation should improve its approach ...
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AnalysisHow employers should manage workplace stress
IF YOU READ NOTHING ELSE, READ THIS…Employers should play a proactive role in managing stress in the workplace.Line managers can play an important part in stress management, but they must be given suitable training.Employers should encourage staff to take responsibility for their own physical and mental wellbeing.There are countless legal ...
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Article
Jonathan Watts-Lay: Staff must make right choices at retirement
Many people are living longer, which is great news. But, with the removal of many defined benefit (DB) schemes in favour of DC, the onus is now on employees to consider their pension contributions, monitor their pension savings and, of course, choose the most appropriate retirement income option.These decisions are ...
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Article
Pay and benefits cause most dissatisfaction
Pay and benefits are the cause of most dissatisfaction among respondents, with nearly half considering a change of jobs because they are dissatisfied with their current pay and benefits package, according to research by Edenred UK.The Edenred barometer, conducted by Ipsos among 7,200 European employees, including 800 UK workers, found ...
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Article
Most employers outsource pension administration
Three-quarters (75%) of respondents outsource the administration of their pension scheme, up from 69% in 2012, according to research by Aon Hewitt.Its 2013 Benefits administration survey, which questioned 361 employers with a combined £97 billion in pension assets and more than two million employees, found that nearly half of the ...
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ArticleAverage weekly pay rises almost 1%
Average weekly earnings, excluding bonus payments, rose by 0.9% between February and April 2013, compared to the same period in 2012, according to figures from the Office for National Statistics (ONS).Its Labour market statistics, June 2013, found that in cash terms, average weekly earnings, excluding bonus payments, were £447 in ...
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Article
RTI reporting deadline may be extended further for micro employers
HM Revenue and Customs (HMRC) is seeking to extend the temporary relaxation of the real-time information (RTI) reporting deadline for micro employers (those with fewer than 50 employees), from October 2013 until April 2014.The proposed extension means that organisations will not be required to change their pay-as-you-earn (PAYE) approach halfway ...
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Article
Capital One tops list of best UK workplaces
Credit card organisation Capital One, consultancy Impact International and social media firm Propellernet were ranked among the top employers in the Great Place to Work Institute’s list of best workplaces in the UK.Capital One took top spot in the large organisation (500 or more employees) category, Impact International in the ...
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Article
Anglian Water switches healthcare trust suppliers
EXCLUSIVE: Anglian Water is to launch a new healthcare trust on 1 July.The scheme will be available to the utilities firm’s 4,000 employees. Its manager population, of around 100 staff, will also be able to add their dependents onto the scheme.The organisation has offered a healthcare trust for some years ...
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Supplier article
Health Shield survey reveals high degree of satisafaction with customer service
The Call Handling Survey of nearly 1,000 members, which was conducted between January and June 2013, revealed that 94 per cent of those questioned were happy with their overall experience of calling the corporate health cash plan provider.The research showed that 93 per cent of members agreed that queries were ...
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Article
DOD’s blog: Below-inflation pay increases hurt businesses
I want draw your attention to important research published this week about how the UK workforce has largely seen a pay cut over recent years.Read: UK employees experience record pay cutsRead: Pay packets in south-west England fall by 10%I am concerned that the reaction of most people will be to ...
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Opinion
Dev Raval: HR needs to act on low pay
Well, it could be a case of ‘not me guv’, that is, HR doesn’t have a role or responsibility in managing pay, it’s someone else in finance or the board. That doesn’t hold up. HR formally has some significant responsibility for setting pay in most organisations. There may be variations ...
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Article
Top 10 most read articles this week
Employee Benefits Awards 2013 winners announcedTPR publishes auto-enrolment codes of practiceMost common benefits to combat stressStandard Life and Punter Southall launch auto-enrolment product for SMEsFinal proposals on directors’ remuneration legislation publishedJohn Lewis extends staff volunteeringBritish Airways pension deficit increases by £100mOpt-out rules upset Barbon’s auto-enrolment planHeineken appoints DB pension administratorSAP ...
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Article
A very dreamy payout
Something for the weekend…Staff may start offering their payroll managers copious amounts of Horlicks, comfy cushions and scented candles after hearing about a recent mishap in Germany.A tired banking employee fell asleep on his keyboard and accidentally transformed a €222 million (approximately £188.4 million) order, a court heard.The Hessen labour ...
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ArticleEmployers should look at benefits for rising number of older workers
The number of people aged 65 and over in employment has reached one million for the first time, according to figures by the Office for National Statistics (ONS).Its Labour market statistics, June 2013, found that, of the 29.76 million people in employment, 1,030,000 were over 65, up by 96,000 in ...
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Article
Network Rail introduces private shopping club for staff
Network Rail has launched a private shopping club for employees.The online club, Aspire, gives the railway’s 35,000 employees access to a weekly online sale of well-known brands with discounts of up to 70% off retail prices.The voluntary benefits was introduced after Network Rail renewed its contract with reward and incentives ...
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Case Studies
E.On delivers powerful message on flexible benefits
With about 12,000 staff across 80 sites in the UK, including wind farms and customer contact centres as well as field-based employees, the organisation was keen to ensure its benefits scheme was communicated in an engaging way.Its campaign used a network of employee representatives, known as local champions, as well ...
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AnalysisTop tips for communicating flexible benefits
IF YOU READ NOTHING ELSE, READ THIS…Targeted communication is vital to the success of a flexible benefits scheme.Employers can optimise employee engagement by using a range of media to communicate the flex scheme to their workforce.Flex scheme communications should be kept updated to keep staff reminded of the scheme’s existence.Employers ...