All Employee Benefits articles in Web Issue – Page 653
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Article
Consultation launched on longevity risk
The Bank of International Settlements has launched a consultation on the longevity risk transfer (LRT) market.The consultation, Longevity risk transfer markets: market structure, growth drivers and impediments and potential risks, said that longevity risk, the risk of paying out pensions and annuities for longer than anticipated, is significant when measured ...
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Article
More SMEs are prepared for auto-enrolment
More than a quarter (27%) of medium employers have drawn up pensions auto-enrolment plans and started to act on them, compared to 13% in autumn 2012, according to research by The Pensions Regulator.Its Employers’ awareness, understanding and activity relating to auto-enrolment research, which questioned 639 employers that are due to ...
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Article
Gender pay and bonus gap remain strong
Male managers earned average bonuses twice as big as those of their female counterparts over the last 12 months, according to research by the Chartered Management Institute (CMI).Its annual National management salary survey, conducted with XpertHR and including data from more than 43,000 UK workers, found that average bonuses for ...
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Article
Former Co-op employees fight for bonuses
Former employees of the Co-operative Group have launched legal action against the employer over unpaid bonuses worth around £1 million.The 10 employees, who worked for Co-operative Insurance Society, the mutual’s insurance organisation, which was sold to Royal London in July 2013, have launched formal grievance proceedings against the Group.The move ...
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Article
Royal Mail managers vote against pension proposal
Almost one third (27%) of Royal Mail managers that turned out for a consultative ballot by trade union, Unite, voted against proposed reforms to the organisation’s defined benefit (DB) pension scheme. According to Royal Mail, around 5,660 of Royal Mail’s 8,300 managers are Unite members, and 50% of these members ...
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Article
Top tips from award winners at Employee Benefits Live
Past Employee Benefits Award winners, including Asda, Merlin Entertainments, Capital One, First Group, Random House Group, Bwin.Party and City Health Care Partnership CIC will share their tips and secrets for success on a variety of benefits.The strategies covered will include: employee motivation, pensions, share schemes, health and wellbeing, work-life balance ...
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Opinion
Benjamin Reid: Performance reviews need to be open and honest
For Frederick Winslow Taylor’s Scientific Management Approach in 1911, performance review was something managers did between themselves to establish what tasks workers should do.Even by 1957, Douglas MacGregor (he of Theory X and Y fame) was finding himself ‘uneasy’ at the way in which performance appraisal puts managers in the ...
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Case Studies
Peer 1 Hosting motivates staff with peer-to-peer recognition
The system enables employees and managers to spend time together and collaborate to set their promises to deliver and be accountable for the forthcoming year.Helen Ives, HR director, says: “Everything we do from a learning, recognition and performance standpoint is very collaborative and peer-to-peer led.”The organisation’s Peer Promises system has ...
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Article
Ian Hodson: How should HR be more involved in high pay decisions?
The reward manager’s role is to create a framework that can be flexible enough to support recruitment and retention, but be transparent to employees. More often than not, we see decisions taken spontaneously without the involvement of HR and without considering the longer-term impact. This can often be in the ...
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AnalysisWhere does employee recognition fit into a development review?
If you read nothing else, read this…Employers can use peer reviews to help with the performance development review (PDR) process.New technologies offer an opportunity for employers to ask employees about their peers.A recognition scheme can be easily integrated into a PDR.PDRs can also be linked to motivation and recognition programmes. ...
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Analysis
Key points to consider about bring your own device (BYOD) to work schemes
If you read nothing else, read this:Employers need to ensure staff comply with the Data Protection Act when implementing a bring your own device (BYOD) to work scheme.BYOD schemes enable employees to be flexible, fast and productive.A big cultural change is required to implement a BYOD scheme.BYOD schemes allow employees ...
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Article
Luke Hildyard: How should HR be more involved in high pay decisions?
Over the last decade, pay for a FTSE 100 chief executive officer has risen from 100-times that of the ordinary worker to 130-times. Comprehensive figures going back further are difficult to find, but research from the High Pay Commission suggests the ratio stood at about 15:1 in the late 1970s.This ...
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ArticleBonus payments rise to £38.6 billion
Total bonus payments across the UK economy totalled £38.6 billion between May 2012 and April 2013, up 4% year-on-year, according to research by the Office for National Statistics (ONS).But employers delayed paying £1.7 billion of this total to help employees take advantage of the change to top-rate tax, which fell ...
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Article
Lorica to launch financial management product
EXCLUSIVE: Lorica Employee Benefits is to launch a money portal, which aims to help employees manage their personal finances and employee benefits.The system aggregates an employee’s personal finance-related products and services, such as credit cards, bank accounts, mortgage payments and standing orders, alongside their employee benefits.The technology, which is being ...
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ArticleEmployers want to influence staff to save more in pensions
More than two-thirds (69%) of respondents try to use their pensions communications to persuade staff to take greater control of their pension planning, according to Employee Benefits research.The Employee Benefits/Capita Pensions research 2013, which surveyed 370 HR and benefits professionals, also found that 25% simply communicate their pension scheme because ...
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Article
HSBC appoints Rob Green to interim post
His previous roles include: interim compensation and benefits manager at Amazon; interim global compensation project manager at Reckitt Benckiser; European compensation manager at Coca-Cola; and international compensation and benefits manager at GlaxoSmithKline.
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Article
Baker Hughes appoints Angela Harris
She joined the organisation in 2010 as compensation and benefits manager for the UK and Norway.Harris said: “After a review of the responsibilities of the reward function, a bigger position was created for a total rewards manager for Europe.“I am now looking forward to transferring my skills and knowledge, plus ...
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Article
Novartis appoints Tim Robertson head of reward
His previous roles in the industry include: senior reward manager at Santander; senior reward manager at Barclaycard; Europe, Middle East and Africa (EMEA) compensation and benefits director at American Express; UK reward manager at Ericsson; and compensation and benefits analyst at GlaxoSmithKline.
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Article
New HR role for Amex's Sarah Perkins
She was previously employee health and wellbeing manager at the credit card firm.In 2013, Perkins was chosen as one of Employee Benefits’ Hot 100 Benefits managers.
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Article
Peugeot Citroen promotes Stephanie Palmer
Her previous role was head of reward and development, which she had held since April 2011.Other roles at the car manufacturer have included management development co-ordinator and personnel officer.She has also been HR adviser at Rolls-Royce.