A step change in benefits delivery: the future for flex
How did we get here? The road to flex was paved with good intentions, explains George Farrow, from the paternalistic Victorian idea to today’s austerity. Flexible benefits were born in the mid 90s out of the necessity to take a fresh look at core benefits. The paternalistic industrialists of the Victorian era built homes and […]
Reward management – where do we go from here?
Whether you are considering overhauling your reward structure or not, it’s clear that reward has changed. Could your remuneration strategy be more effective? Denis Crowe gives some tips. How far is the culture of bonuses in banks to blame for the financial crisis? Vince Cable has gone on the record to say that: “there is […]
Pension age change will ‘hit women and disadvantaged hardest’
Coalition government plans to save £38 billion by bringing forward the age at which workers can claim a state pension will hit women and the most disadvantaged in society hardest, a charity has warned. A new Pensions Bill, which was introduced into Parliament yesterday, will see the State Pension Age for women rise from 60 […]
Finance Bill 2011: Childcare voucher schemes
It has been confirmed that there will be changes to the tax laws regarding the childcare voucher schemes in 2011. The government view that there are too many well-off parents benefitting from this (including tax-free music lessons through certain schemes) has led to a change in the way the system will work. This is the […]
Government u-turn on pension rates makes schemes more expensive
A pensions fund body has criticised the coalition government’s decision to backtrack on moves intended to slash the costs for employers of providing workplace pensions. Ministers had suggested in July that they would introduce legislation to enable private sector organisations to use the lower Consumers Prices Index rather than the traditional Retail Prices Index in […]
What staff really want… a better pension contribution
The most popular benefit that European employers can provide staff in order to improve retention rates is a higher pension contribution, with nearly half of workers even prepared to sacrifice pay in return. These are the findings of a survey undertaken among 7,500 workers in Europe’s 10 leading economies, including the UK, by human capital […]
Get reward and recognition right; or don’t do it at all
Many companies have a reward and recognition scheme in place, but a programme is only as good as the communication and execution of it. Glenn Elliot considers how you can boost the value in your R&R. If not personally, most of us probably have a friend or family member who would identify with this employee’s […]
Share schemes – the basics
Jonathan Oxley explains the basics HR needs to know to differentiate between share schemes in the second of our videos on using shares as a benefit. See the first video from Jonathan here.
Motivating employees – are shares an option for you?
Trying to be creative with benefits and renumeration? Jonathan Oxley has noticed a trend in requests for guidance on what share options work for employers and different companies. In this short video he explains that HR professionals don't need to know a huge amount about share schemes to be able to use them as a […]
Exec pay on ice
The time of executive salaries increasing far in excess of inflation are now over, with more than half of FTSE 350 companies choosing not to boost the salaries of executive directors this year. This situation equates to a two-year salary freeze for many as over two thirds received no increment last year either. Where wage […]
The pension journey: auto-enrolment is just the beginning
Auto-enrolment is a powerful remedy for employers struggling to sign up employees to their pension schemes, but it should only be the start of the relationship, according to speakers at AXA’s first Future of Workplace Savings roadshow. Pension decision-makers from leading employers were given tips from the experts on how to deal with the enrolment […]
Voluntary benefits– knight in shining armour or plaster over a sore?
Offering a voluntary benefits (VB) programme to employees can be an inexpensive, quick and effective addition to an organisation’s benefits scheme. VBs provide a practical way for employees to stretch their often frozen net pay at little or no cost to the employer, since they are paid for by the employee, often through the payroll. […]
HR is going into the war for talent unarmed
Employers across both the public and private sector fear that they are no longer able to offer the pay and benefits packages required to attract and retain key skills, an HR body has warned. Number two on the list of concerns relates to the ability of line managers to administer such rewards, while the number […]
Financial education in the workplace – the real employer/employee benefit
Money talks and people walk – how employers can tackle the financial education deficit by teaching basic principles of money management and receive the benefits of a less stressed, better focused workforce in return. Coping with the rising cost of living coupled with cross-the-board pay freezes is proving difficult for almost all employees in these […]
Ask the expert: Resign or seek severance?
Martin Brewer and Esther Smith advise on whether this employee should resign or seek a severance payment. The question: Resign or seek severance? A year ago I negotiated flexible working with my employer (I work four longer days Mon-Thurs and take Friday off) so I could help care for my parents. My mother is now […]
Feathering the NEST – time to start now
There is some confusion over the state of pensions in the UK and with the change of government, where does the NEST scheme stand? Navigate the way forward with this guide. It has long been suggested that there is a sizable retirement savings gap in the UK. What does this mean – well basically, too […]
Public sector HR braces for storms ahead
Public sector HR managers could face difficult times ahead if current debates being played out in the media over potentially radical changes to pay and pensions come to fruition. Only a day after Deputy Prime Minister Nick Clegg branded public sector pensions “unaffordable”, signalling possible future cuts, and 10 days after Prime Minister David Cameron […]
Ask the expert: Can a company offer improved benefits to new starters but not to TUPE staff?
Is it legal that new starters are offered better benefits than those already employed? Esther Smith and Martin Brewer consider their verdicts. The question: Can a company offer improved benefits to new starters but not to existing staff? The company I work for has offered an improved benefits package to new starters […]
Now is not the time for employers to short-change staff over outplacement support
With its recent decision to take its outplacement support in-house, RBS is missing an opportunity, says Richard Alberg. Replacing the cost of external expertise in this way may appear more cost-effective but I fear they are in fact short changing ex-employees. It is difficult to criticise any employer that is making an effort to assist […]
94% will hack or axe final salary pension schemes
Although 87% of employers believe that staff are not saving enough for retirement, a huge 94% plan to reduce or axe their final salary pension schemes because they can no longer afford them. According to a survey of 179 large companies, which include 38 FTSE 100 players, by consultancy PricewaterhouseCoopers, the number of organisations that […]