Employee Benefits

FEBRUARY 23, 2023

Book publishing business HarperCollins has reached an agreement with its US union, that includes a pay increase and bonus for employees. Nearly 250 members of staff, who are part of the union, have been on strike since 10 November 2022 over the terms of their contracts. Once ratified, the contract will extend through 31 December 2025.”

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Employee Benefits

NOVEMBER 25, 2022

between 18 and 24 November 2022 were: Tesco launches salary advance scheme for staff. Compass Group rolls out salary advance scheme for employees. Baker McKenzie awards US staff bonuses up to $115,000. The post The top 10 most-read articles between 18 – 24 November 2022 appeared first on Employee Benefits.

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Employee Benefits

MARCH 3, 2022

The Financial Conduct Authority (FCA) is to increase salaries and performance-related pay for its employees. Other salary increases and performance-related pay will result in an overall increase of around £5,500. From next year, discretionary cash bonuses will no longer be paid.

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Employee Benefits

MAY 20, 2024

Employee benefits provider Vivup and group protection and investment provider Canada Life UK have been shortlisted in the Best supplier to work for category at the Employee Benefits Awards 2024. It is only open to internal HR teams of employee benefits providers, suppliers, advisers and consultants.

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HR Digest

JUNE 24, 2022

According to the American Association of University Professors (AAUP), faculty salaries fell by nearly 5% in 2021-22 when wages were adjusted for inflation. The AAUP report highlighted the fact that faculty salaries fell by nearly 5% in 2021-22, as inflation soars to record highs. That’s the market comparison to make.” Almost 61.5%

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Employee Benefits

OCTOBER 24, 2023

Conducted by global talent services firm Morgan McKinley as part of its 2024 Salary guide , the survey found that the top five desired benefits respondents look for in a job are working from home, bonus, pension, health insurance and flexible working hours. Benefits around wellbeing and flexibility remain top of the pile.”

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Insperity

OCTOBER 10, 2023

In December 2022, the U.S. In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 Act of 2022 says The implications of this law’s passage for your business How small and midsize businesses and their employees can both benefit Overview of the SECURE 2.0

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Employee Benefits

DECEMBER 2, 2022

between 25 November and 1 December 2022 were: Ikea gives staff 6% pay rise and enhances benefits. 47% of businesses plan bonuses for Christmas 2022. Forget Me Not introduces salary sacrifice pension scheme. The top 10 most-read articles on www.employeebenefits.co.uk Harrods security guards strike in pay dispute.

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Bayzat

APRIL 5, 2024

Factors Contributing to the UAE’s Talent Shortage Despite its thriving economy, below are factors contributing to the scarcity of UAE talent in the workforce: Unexpected Salary Expectations The 2022 Hays GCC Salary Guide shows that 21% of employers in the UAE struggle with candidates’ unrealistic salary demands.

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Employee Benefits

FEBRUARY 14, 2023

Growth in total pay , including bonuses, was 5.9% in the final quarter of 2022, while pay growth excluding bonuses was 6.7%, according to the latest labour market data from the Office of National Statistics (ONS). For pay excluding bonuses, this was the highest growth rate seen outside of the Covid-19 pandemic.

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Hppy

DECEMBER 15, 2021

If so, it is recommended that you present potential applicants with an incredible employee benefits package. For instance, it is likely that an employee, when faced with a choice, will be interested in joining a company with great health and dental insurance instead of a company that offers a horrendous one or none at all.

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Employee Benefits

NOVEMBER 6, 2023

This is due to its rigorous set of benchmarked salaries for each role, its commitment to rewarding and paying staff fairly, and making sure there is no workforce divide. Meanwhile, Vivid’s 2022 median ethnicity pay gap fell from 4.7% to 4.3%, with white employees earning an average £17.05 A total of 96.2% of men and 95.3%

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Employee Benefits

FEBRUARY 15, 2023

Some [employers] can give big bonuses, but even if we gave everybody £100, after tax it would have a lower impact.” To this end, in 2022 Mitie introduced a winter support package, particularly aimed at those paid under £30,000 per annum. This included bonuses in January 2023 which were weighted towards the lower paid.

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Employee Benefits

JANUARY 23, 2023

Credit: steved_np3 / Shutterstock.com Retailer Carpetright has reported a mean gender pay gap for 2022 of 7%. Its mean bonus pay gap for 2022 was 37.7% The Carpetright workforce was made up of 68% of male and 32% of female employees in 2022. This was less than the UK and retail averages of 13.9% respectively.

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Employee Benefits

FEBRUARY 22, 2023

Banking organisation HSBC has reported a mean gender pay gap for 2022 of 45.2% HSBC employs 34,301 full-time employees in the UK, including 18,699 under the HSBC UK brand, with the remainder falling under various operations, including HSBC Global Services, HSBC Global Asset Management, and Marks and Spencer Financial Services.

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Employee Benefits

JANUARY 16, 2023

In 2022, London-based law firm Shoosmiths not only gave its employees a discretionary thank you payment equal to 3% of their salary in May, but also awarded them a £1,000 cost-of-living payment in September. We have a target to pay all employees 5% of their basic salary for the financial year in question.

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Employee Benefits

APRIL 11, 2023

Through its partnership with Benify, Iveco Group staff can now access their benefits through an app at any point, while the business can also use the platform to increase awareness and engagement through communication. The post Iveco Group introduces global reward platform appeared first on Employee Benefits.

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Employee Benefits

JANUARY 16, 2023

According to Wagestream’s The state of financial wellbeing: the cost of living report 2022 , published in July 2022, there has been an upswing in organisations adjusting their benefits budget to support broader financial wellbeing programmes as an additional way of helping their workforce, rising from 51% in 2021 to 93% in 2022.

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Employee Benefits

APRIL 5, 2023

Convenience store business A G Parfett and Sons has awarded its salaried workers a 7.5% The Greater Manchester-based employer, which employs around 850 members of staff, has also given its weekly-paid employees an increase of 9.6% Everyone at Parfetts is pleased with the results for the year ended June 2022.

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Employee Benefits

NOVEMBER 7, 2022

This is the same as any discount voucher, simply gaining the individual money off a real purchase, but the deal in question is only available to a specific employee base. Third is a salary sacrifice arrangement, whereby the employee makes a purchase prior to receiving their pay each month. What are the benefits?

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Employee Benefits

APRIL 27, 2023

The pay deal built on the consolidated £1,400 or 4% pay award imposed for 2022/23 and included a non-consolidated lump sum of 2% of salary, and a one-off backlog bonus. However, it was a step forward from the government’s entrenched position on 2022/23 pay and improved on its directions to the pay review body for 2023/24.

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HR Digest

JULY 19, 2022

According to the latest Salary Budget Planning Report by consulting firm Willis Towers Watson (WTW), companies are planning record pay rises for the next year. While most companies give a 3% raise on employee salaries , they are putting aside budgets to give a raise of 4.1%, a record high since the Great Recession of 2008.

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Employee Benefits

NOVEMBER 20, 2023

As total reward statements (TRS) have long been favoured to communicate what employees’ reward packages are worth, they can be useful to engage them with what is on offer. Understanding the value A TRS typically offers a breakdown of the monetary value of an employee’s entire employment package. appeared first on Employee Benefits.

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Employee Benefits

JANUARY 24, 2022

Care home operator Shaw Healthcare has decided to pay its 3,200 employees the real living wage regardless of their length of service. The minimum that any employee will earn is now £9.90 million per annum on all employees’ salaries, which will result in a total investment of £6.3 million for the organisation.

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Employee Benefits

JULY 24, 2023

It is in addition to their salary , profit share and other performance-related bonuses. According to the business, it made the decision to award employees with another cost-of-living payment following the Office for National Statistics (ONS) reporting food inflation to be at 18.4%

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Employee Benefits

MAY 17, 2023

The popularity of employee ownership in business is steadily increasing; statistics from the White Rose Centre for Employee Ownership found that as at June 2022 there were 1,030 employee-owned businesses in the UK. The post How much value do employees place in holding equity in an organisation?

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COMPackage

FEBRUARY 2, 2022

Although 2022 has just begun, the employment scene in NYC is already hot. In December 2021, the city council passed a law requiring employers to indicate a minimum and maximum salary on job postings and advertisements. Employers will need to indicate the salary ranges on new jobs, transfer opportunities, and internal promotions.

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Employee Benefits

MARCH 9, 2023

With ⅓ of UK workers considering a career change at the start of 2022, the ‘great resignation’ has shaken up businesses – and its effects are still rippling throughout many industries. And the same survey found that X of employees w So, companies that don’t offer good benefits risk losing their best people.

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cipHR

MAY 4, 2022

Perhaps unsurprisingly, after two years of pandemic-led disruption and rising living costs, among the most popular employee benefits are those which help supplement squeezed incomes, support people’s health, and encourage work-life balance. Here’s a rundown of the top 15 benefits and perks for all employees: 1.

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CorpStrat

NOVEMBER 30, 2022

A good start is to review all of your employees, and make sure that you have every thing needed for year and filing – addresses updated as well. There is a host of issues you want to consider before year end including but not limited to: Bonuses. consider any other taxable fringe benefits. Keep the right things on your radar.

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Employee Benefits

DECEMBER 15, 2021

Life assurance at four times annual salary. Critical illness insurance, employee funded. Private medical insurance (PMI) for all employees, employer paid at employee-level cover. Employer-paid health screening for all employees provided by Bluecrest, with home health screening kits to be introduced in January 2022.

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cipHR

JUNE 29, 2023

New research suggests that the continuing cost-of-living crisis is now affecting a greater proportion of employees, with more people working extra hours, more struggling to buy food or pay their bills, and fewer being able to afford to take sick days, compared to mid-2022.

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Workplace Insight

JULY 3, 2023

A new poll suggests that the continuing cost-of-living crisis is now affecting a greater proportion of employees, with more people working extra hours, more struggling to buy food or pay their bills, and fewer being able to afford to take sick days, compared to mid-2022.

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CorpStrat

JANUARY 27, 2023

Salary Hikes The reality of the current labor market is that there are more open jobs than people to fill them, and inflation is impacting employees’ pay expectations. As a result, salary budgets for American employees are projected to increase in 2023. for 2023, compared with the average actual 4% increase in 2022.

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Employee Benefits

FEBRUARY 15, 2023

The business has a transparent algorithm, with the real living wage as a base, then pulling in factors such as seniority, performance, care allowances and bonuses. He explains: “Our research [published in October 2022] shows that 81% of employees say they’re going to reduce spending on routine healthcare, such as dentists and opticians.

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Employee Benefits

NOVEMBER 21, 2022

Factoring reward package reviews into formal milestones, such as six-month reviews or probation periods, can improve engagement and employees’ awareness of what is on offer. The post How to engage staff with a total reward offering appeared first on Employee Benefits. Staying on trend with current issues.

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Vantage Circle

NOVEMBER 23, 2023

Employee perks are the enticing extras employers offer their staff, going beyond the regular paycheck to make the workplace more inviting and fulfilling. These incentives span a wide array, from health benefits and retirement plans to flexible work arrangements, financial bonuses, and professional development opportunities.

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