All Employee Benefits articles in Web Issue – Page 956
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OpinionSally Hart: What are the key factors in creating a global benefits strategy?
Consider, first of all, the desired outcome: an effective global benefits strategy provides a framework for benefit plan design in all countries of operation. It will help align practices with shared objectives, and centralising structures may bring about significant efficiencies, reducing administration and cost. The global benefits strategy should be ...
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Supplier article
What’s hot and what’s not in HR and employee benefits?
There’s been much talk recently about the reinvention of HR. Among other things, technology, the shrinking global labour pool, economic pressures, evolving employee benefit laws, a desire to make people management more strategic, and changing employer and employee expectations are contributing to the discussion that HR may need to play ...
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Article5% of FTSE 250 still provide defined benefit pensions
The total deficit of defined benefit (DB) pension schemes in FTSE 250 organisations has reached £11 billion, according to research by JLT Employee Benefits.Its FTSE 250 and their pension disclosures half-yearly report, which analyses data of annual reports for years ending on or before 31 December 2015 and published by ...
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ArticleApple, BP, Cisco and Goodman Masson among best employers for work-life balance
Apple, BP, American Express, Cisco Systems (pictured) and Goodman Masson are among the top organisations providing employees with a good work-life balance, according to research by Glassdoor.Its report, which rated organisations on work-life balance based on UK employee feedback over the past year, also found that the average work-life balance ...
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Article75% of DC pension savers will retire on inadequate income
Post-Brexit, the proportion of savers into a defined contribution (DC) pension scheme who will retire on an inadequate income has risen to 75% from 66%, according to research by Hymans Robertson.Its analysis of data of 500,000 savers on the organisation's Guided Outcomes platform also found that the cost of providing ...
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ArticleRichard Harrington commits to continuing key pension reforms
Since Richard Harrington’s appointment as parliamentary under secretary of state at the Department for Work and Pensions in July 2016, there has been much industry speculation about his priorities and commitment to existing pension reforms and proposed changes.Harrington stepped in to the role previously filled by Baroness Ros Altmann in ...
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ArticleClassic Motor Cars launches employee ownership trust
Classic Motor Cars (CMC) has launched an employee ownership trust.Peter Neumark, chairman of the Shropshire-based car restoration organisation, transferred his majority shareholding into a new entity, the Classic Motor Cars Employee Shareholder Trust, on 26 August 2016, passing control for the business to a trust set up for its 60 ...
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Case StudiesCountrywide aligns benefits and reward to help boost growth
Countrywide Group, the UK’s largest property services group, began the task of building a reward function in September 2014, when it drafted in Neil Goodwin, head of reward.He joined on the brink of a group-wide overhaul at the FTSE 250-listed group, which until then had just an operational human resource ...
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ArticleEXCLUSIVE: Samsung to discuss employee engagement at Employee Benefits Live
Joanna Bean, head of reward at Samsung, will discuss benefits communication and employee engagement at Employee Benefits Live 2016.She will deliver a session titled How to improve staff understanding of reward and benefits as part of the employee engagement conference stream on Tuesday 11 October.During the session, Bean will focus ...
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ArticleGovernment consults on pensions advice allowance
The government has launched a consultation on whether defined contribution (DC) pension members should be able to access their retirement funds early to pay for financial advice.The consultation, which will run for eight weeks until 25 October 2016, focuses recommendations by the Financial Advice Market Review (FAMR), announced in the ...
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Case StudiesThe benefits offered by Countrywide Group
PensionGroup stakeholder pension scheme for 5,000 managers.Auto-enrolment pension scheme provided by the National Employment Savings Trust (Nest) for the remaining 7,000 employees, with contribution levels at 1% for employer and 1% for staff.Healthcare and wellbeingLife assurance, employer-paid for all staff at four-times salary for management, and at two-times salary for ...
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OpinionLovewell's Logic: What will Brexit mean for effective global reward strategies?
Over the past few months, one topic has dominated numerous conversations: the result of the EU referendum. Whichever way you voted and whatever you think of the Brexit result, there can be no denying that the UK’s decision to leave the European Union (EU) will have widespread ramifications.The true reach ...
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ArticlePirelli agrees £600m pension longevity swaps
Multi-national tyre firm Pirelli has agreed two longevity swaps for its UK pension arrangements to counteract the risks of an ageing population.The longevity swaps have been arranged for both the Pirelli General Pension and Life Assurance Fund and the Pirelli Tyres Limited 1988 Pension and Life Assurance Fund with Zurich ...
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ArticleMarks and Spencer lobbied by MPs over planned pay changes
Marks and Spencer (M&S) will today (Thursday 1 September) be lobbied by members of Parliament (MPs), campaigners and activists against proposed changes to pay.Its proposed changes include removing premiums for working Sundays and anti-social hours, and reducing bank holiday payments. Under the proposed plans, bank holiday payments will be at ...
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ArticleEXCLUSIVE: 49% cite flexible working as most coveted future benefit
Just under half (49%) of respondents say flexible-working arrangements and work-life balance will be the most important benefits to them in the future, making it the most coveted benefit, according to research by Grass Roots.Its Future of employee benefits report, which surveyed 1,000 employees and 200 HR managers, also found ...
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ArticlePizza motivates staff more than money
Something for the weekend: Although many employees are partial to a cheese-topped pizza feast as a takeaway treat, academic research has found that the moreish Italian classic is a better motivator for staff than a monetary bonus.Dan Ariely, a professor at Duke University’s Fuqua School of Business, found that offering ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on www.employeebenefits.co.uk between 25 and 31 August 2016 were: Employee builds plane to travel to workUberEats drivers protest over payDentsu Aegis Network enhances shared parental payApple, BP, Cisco and Goodman Masson among best employers for work-life balance75% of DC pension savers will retire on ...
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OpinionLovewell's logic: Work-life balance takes centre stage
How well does your organisation support employees’ work-life balance?This week, Glassdoor revealed the top 20 organisations providing employees with a good work-life balance, based on staff ratings submitted to the jobs and recruitment site. The list comprises employers from a wide variety of industry sectors, including Goodman Masson, Cisco Systems, ...
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Supplier article
Should you offer group life assurance as an employee benefit?
Group life assurance (GLA), also known as group death in service, has been voted in the top three workplace benefits.It provides money to families and dependents of an employee who dies, giving them financial support during a difficult time and providing both you and your employees some peace of mind.Cover ...
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ArticleBlackhawk Network acquires Grass Roots Group
Global prepaid and payments organisation Blackhawk Network has acquired employee engagement provider Grass Roots Group.The move is expected to enable Grass Roots to offer employers a global approach to benefits, reward and recognition packages through Blackhawk's network.Meanwhile, California-based Blackhawk Network will look to extend its global reach further by utilising ...