All Employee Benefits articles in Web Issue – Page 807
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ArticleJon Dymond: What can employers do to address the pay gap?
While employers need to ensure that they are paying people the same money for the same work without reference to gender, as the law insists, addressing pay inequality alone will not remove the pay gap.Whether we as employers like it or not, traditionally male-dominated sectors pay more on average than ...
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ArticleNicky Morgan: What can employers do to address the pay gap?
Tackling the gender pay gap is about more than making sure women are paid the same for doing the same job as men, although this is of course essential. It is also about ensuring women can access a range of careers, including those with higher pay, enabling them to move ...
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Article
Auto-enrolment continues to be a burden
The business barometer survey published by Close Brothers Asset Management in January, for example, found that more than three-quarters (76%) of employer respondents now notice the administrative burden created by auto-enrolment, a 7% increase since September 2014.In addition, figures published by The Pensions Regulator (TPR), also in January, highlighted that ...
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ArticleWages set to grow by 1.9% in 2015
Real pay is set to increase by 1.9% in 2015, with UK employees set to enjoy their first increase in wages since 2007, according to research by economic forecaster, EY Item Club. Its latest report on the labour market found that wage growth is expected to continue to accelerate, underpinned ...
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ArticleWalmart to invest $1 billion to increase staff pay
Walmart is to invest $1 billion (£652 million) to increase the hourly pay of more than 500,000 of its 1.4 million workforce.The US supermarket giant, which is the parent organisation of Asda, pledges to award staff at least $9 (£6) an hour, which is above the US minimum wage of ...
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Supplier article
Pension freedoms: stop the scams
With so many potential scams just over the horizon, it’s going to be important that employers alert their employees to the potential dangers of such scams, and how best to avoid them.It’s also likely that employers will be well placed to spot new scams and scammers that may be targeting ...
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Supplier article
Three questions for employers…
The above should be of no surprise to anyone who has been following the childcare costs story of the last few years. Given that this is a subject that affects millions of working families, expect to see this topic appearing in the 2015 manifestos of the major political parties soon.However, ...
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Article£13,800 gender pay gap exists in public relations sector
A gender pay gap of more than £13,887 exists in the public relation (PR) sector, according to research by the Chartered Institute of Public Relations (CIPR).Its State of the profession 2015 report found this is an increase of 12% on the £12,390 gap identified in 2014.Of the average pay gap ...
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ArticleHSBC bonus pool fell to £2.38bn in 2014
HSBC’s bonus pool for staff across the organisation fell to £2.38 billion in 2014, down by £2.5 billion from 2013.However, the banking group’s Annual results 2014 also highlighted that its spend on employee compensation and benefits increased by 4% in 2014.Its report stated that because of further regulatory changes to ...
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ArticleSky outsources benefits admin to focus on strategy
EXCLUSIVE: Sky has outsourced its employee benefits administration to enable the home entertainment and communications organisation to focus on driving its benefits business strategy.It appointed Capita Employee Benefits in January following a tender process in October 2014.The provider will look after its pension auto-enrolment, benefits selection, benefits administration, consultancy, helpdesk ...
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Analysis
13 - Health and wellbeing case study round-up
North Halifax Grammar School in West Yorkshire is to roll out mental health and wellbeing initiatives for staff. The scheme, provided by Worth-It Projects, will offer mental wellbeing coaching and training to staff, all 60 of whom have registered to attend. http://bit.ly/1zSPCbzJP Morgan has extended dental cover and health screening ...
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ArticleIBM staff can claim damages against DB closure
Members of IBM’s UK defined benefit (DB) pension scheme will be able to claim damages against it over the closure of the schemes, the High Court has ruled.The technology organisation is seeking to appeal the latest decision in the case of IBM vs Dagleish, which it “respectfully” disagreed with, according ...
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Supplier article
Identifying best-in-class UK stocks — Mark Martin, Neptune UK Opportunities Fund
brightcove.createExperiences();Investment RisksThis Fund may have a high volatility rating and forecasts/past performance are not a guide to future performance. The value of an investment and any income from it can fall as well as rise as a result of market ...
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ArticleLow Pay Commission recommends 3% minimum wage increase
The Low Pay Comission (LPC) has recommended that the government increase the current adult national minimum wage by 3%, to £6.70.The current national minimum wage for employees of 21 years and over stands at £6.50 per hour. It will remain at this level until October 2015.Due to the rate of ...
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ArticleHayes Davidson launches employee ownership trust
Hayes Davidson has launched an employee ownership trust.The architectural visualisation studio organisation is now 100% owned by its employees (pictured) after it launched the trust at the end of January 2015.Employees in an employee-ownership trust organisation can receive income-tax-free bonuses of up to £3,600 per tax year.Hayes Davidson closely follows ...
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ArticleTechnology can maximise DC pension flexibility engagement
How employers and employees can use new technology to maximise defined contribution (DC) pension flexibilities will be discussed in a session at Employee Benefits Connect on 4 March.In a session titled ‘Using technology to maximise new DC pensions flexibilities: helping both employers and employees’, Lee Hollingworth (pictured), partner and head ...
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Case StudiesBenefits offered by the University of Lincoln
PensionsThree schemes in place including a Teachers Pension, a Local Government Pension Scheme and the Universities Superannuation Scheme. A number of additional voluntary contribution (AVC) schemes are available.Employer contribution levels range from 14% to 28% across all schemes. Healthcare and wellbeingPrivate medical insurance, employer-funded for executive level and heavily discounted ...
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Case StudiesUniversity of Lincoln places benefits at heart of talent strategy
Ian Hodson, reward and benefits manager at the university, says: “The type of employee that we are trying to bring to the organisation now will not be motivated by the typical [benefits] package [of a good salary, a pension and sickness benefits]. We had to change our thinking.“Lincoln is not ...
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Article65% of NHS staff attended work when ill
Around two-thirds (65%) of NHS staff attended work in the previous three months despite not feeling well enough to perform their role, according to research by the NHS.However, this is a decrease from the 68% that said the same in 2013.The 2014 NHS staff survey, which surveyed 255,000 NHS employees, ...
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ArticleBalfour Beatty delays £85m pension payment
Balfour Beatty has agreed new terms with the trustees of its defined benefit (DB) pension scheme over an £85 million deficit payment that was due next year.The UK infrastructure group will now make the payment over the next eight years, starting with a £4 million cash payment in 2016.This will ...