Salaries flatline desipte more vacancies
Although the number of job vacancies rebounded last month, particularly in the professional services and engineering sectors, salaries have remained flat. Employment web site Reed.co.uk said that its Job Index stood at 125 in June, which is four points or 3% higher than May, indicating that the number of available posts has returned to April’s […]
Transparent top pay catches out 10% rise union leader
The ongoing controversy over executive salaries took a new twist this week after a union leader was criticised for taking a 10% pay rise and top mandarins lost their battle to keep their wage details secret. Christine Blower, head of the National Union of Teachers which is taking part in a national strike next week […]
Cable announces C-suite pay crackdown
Vince Cable pledged to crack down on the “outrageous” renumeration packages offered to some senior business managers just as it emerged that Network Rail is to hand its former chief executive a £1 million payoff. Speaking at the Association of British Insurer’s biennial conference yesterday, the Business Secretary said that, over the next few weeks, […]
Low Pay Commission to review intern and apprentice pay
The Low Pay Commission has been tasked with evaluating whether young people taking up internships should be paid and to review whether apprentices currently receive a fair wage. The coalition government has also asked the Commission to examine how current National Minimum Wage regulations could be simplified and made easier to administer as well as […]
Banker bonus tax to battle ‘Britain’s lost talent’
The Shadow Chancellor plans to table a motion to levy a new £2 billion tax on bankers’ bonuses in order to fund back-to-work schemes for young people and those living in unemployment black spots. Labour’s Ed Balls is currently try to secure the backing of Liberal Democrat and Tory backbenchers to support an amendment to […]
Top pay at Tesco reviewed
Tesco has overhauled its pay policy for top managers in a bid to prevent a repeat of last year’s shareholder revolt, just as a new report revealed that chief executive renumeration was out of kilter with share prices and employee pay. The changes, which were revealed in the supermarket chain’s annual report, will see it […]
Pay inequality growing – and bad for business
Pay inequality is rocketing in the UK, with top private sector bosses set to earn a massive 214 times more than average wage earners by 2020, an investigation has found. According to an interim report published by the High Pay Commission, which is funded by the Joseph Rowntree Charitable Trust, executive renumeration is now “out […]
Fleet life: Tackling the fuel price problem
Despite experiencing “pump shock” from soaring fuel prices, businesses can take practical steps to minimise the pain at the pumps and strengthen the appeal of car benefits, says Paul Hollick of multi-marque car leasing company Alphabet. The sharp increase in pump prices – fuel prices have increased by 40% in real terms over the last […]
Public sector pay ‘better than in private sector’
Public sector hourly wages outstripped those of the private sector for the second year running in 2010 as the bottom 30% of private sector employees suffered “dramatic” pay cuts, a report has revealed. The study undertaken by right-wing think tank the Policy Exchange and based on Office of National Statistics data revealed that, in every […]
FairPensions rally calls for living wage by top 100 companies
An advocacy group is writing to chief executives at the top 100 UK companies to demand that they pay workers a “living wage”, after holding a rally in London yesterday. Two and a half thousand investors, philanthropists and religious leaders led by FairPensions, an organisation committed to promoting responsible investment, gathered at Westminster Central Hall […]
The guide to… rewarding staff when salary increases and promotion are frozen
Recent economic data has revealed low levels of wage inflation, indicating that many organisations are implementing low or no pay increases for the coming year. In addition, headcount freezes are reducing opportunities for promotion. Vincent Belliveau, EMEA General Manager for Cornerstone OnDemand, outlines how businesses can motivate their employees in this challenging environment. Pay raises […]
Ask the expert: Sickness and pay increases
This week the experts, Adam Partington and Esther Smith advise on whether to give a pay increase to an employee on sick pay. The question: Sickness and pay increases I have an employee on long term sick, the SSP has long ended and we are approaching our financial end of year. The other […]
Bonus and salary review season
…is upon us and it’s time to consider retention, as well as the cost – where does HR stand and what should we do? Charlie Waters offers this advice. Old news!In the turmoil of the past three years, financial markets chaos has made employees more cautious and therefore less likely to leave their current employer. […]
Ask the expert: Pay grade – has this employee got a case?
This time the experts, Esther Smith and Adam Partington advise on whether an employee could take action against the employer for effectively down-grading them. The question: Pay grade – has this employee got a case? Last year (May 2010) we went into consultation where the role was split into two roles where the current employee […]
Lecturers strike over pay and pensions
Tens of thousands of lecturers will today take part in their first nationwide strike for five years as part of a worsening row over changes to pay and pensions. Members of the University and College Union will walk out of 500 further education colleges, older universities and former polytechnics across the country and mount picket […]
Public sector pay should be linked to performance
Senior public sector managers’ pay should be performance-related but not subject to a cap at 20 times the salary of their lowest paid staff, an independent review has proposed. The government-commissioned Fair Pay Review, led by Work Foundation head Will Hutton, the final version of which is published today, U-turned on initial recommendations made in […]
Sickness insurance could replace sick pay from employers
Employers could be required to take out income protection insurance for their staff rather than provide statutory sick pay in a bid to cut a sickness absence bill that currently costs them £8 billion a year. This is a leading proposal before Lord Freud, the coalition government’s welfare reform minister, and is one of several […]
Event: Reward management in financial services – where do we go from here?
An upcoming financial services breakfast briefing hosted by Curo Compensation in association with HRzone.co.uk will explore the priorities and challenges for those impacted by the expansion of the FSA code on their reward strategy in 2011 and provide a networking opportunity for reward professionals in this sphere. HRzone readers are invited to attend this event […]
Recruiters suggest NI holiday to boost job creation
Recruiters have called for a year-long national insurance holiday to support hiring by small businesses in order to tackle rising youth joblessness as the TUC warned of an imminent female employment crisis. The Report on Jobs published by the Recruitment and Employment Confederation and management consultancy KPMG revealed that, even though demand for staff […]
Police may ‘take to streets’ over cuts
Police officers could take to the streets over proposed “cataclysmic” cuts to their take-home pay, after accusing the coalition government of bullying tactics and “unfair treatment”. The furious reaction followed a government-commissioned review by former rail regulator Tom Winsor, which called for the reduction in or abolition of a series of allowances and overtime payments […]