Employee Benefits

OCTOBER 3, 2023

Credit: MOZCO Mateusz Szymanski / Shutterstock.com Banking organisation Standard Chartered has introduced an electric and plug-in hybrid vehicle salary sacrifice scheme for all of its UK-based employees. The post Standard Chartered launches electric and hybrid vehicle salary sacrifice scheme appeared first on Employee Benefits.

Salary 105

Salary Banking Paid Leave Transportation 105

Employee Benefits

MAY 15, 2023

We ask Jonathan Watts-Lay, Director, WEALTH at work, what he thinks are the main benefits of salary sacrifice schemes. Jonathan Watts-Lay, Director, WEALTH at work, comments, “One way to save money is by paying for things through your company payroll using your pre-tax salary, so you pay less income tax and National Insurance.

Salary 98

Salary Pension Taxes Transportation 98

Employee Benefits

MARCH 22, 2024

It looked at job titles most frequently advertised with a starting salary of more than £100,000, the average salary for the top 10 job titles according to Indeed, and the most popular men’s and women’s names in the UK to find the five most common names for each gender.

Salary 82

Salary Engineering Consulting Taxes 82

Employee Benefits

MARCH 15, 2024

Credit: Ritu Manoj Jethani/Shutterstock Footwear brand FitFlop has introduced a salary sacrifice nursery scheme for its 165 UK employees in order to help them save money on childcare fees. The post FitFlop introduces salary sacrifice nursery scheme appeared first on Employee Benefits.

Salary 59

Salary Gross Pay Global Payroll Pension 59

Achievers

JUNE 6, 2022

What do you think of when employee benefits are mentioned? Organizations often fail to go beyond these standard benefits, and if they do, it’s with a few additions that are selected without much thought and seldom improved. Find out what your employees want out of an employee benefits program.

Employee Benefits 238

Employee Benefits Family and Medical Leave Act 401(k) Retirement Plan 238

Employee Benefits

APRIL 17, 2024

Pension salary sacrifice schemes are not a new concept, but one that all employers should consider, especially at a time where the tax burden on both employers and employees is high. Salary sacrifice arrangements help employers make their salary budget stretch a bit further. appeared first on Employee Benefits.

Pension 59

Pension Salary Taxes Insurance 59

Employee Benefits

APRIL 15, 2024

Two in five (40%) UK employees admitted they would choose a job with a lower salary but generous employee benefits , according to research from MetLife UK. Adrian Matthews, head of employee benefits at MetLife UK, said: “Benefits are becoming increasingly more important to employees, and rightly so.

Salary 72

Salary Pension Benefit Providers Bonuses 72

Employee Benefits

DECEMBER 7, 2023

Nearly half (46%) of employees said that working for an ethical employer is more important to them than a higher salary , according to new research by PR agency Unhooked Communications. Businesses might struggle to compete on salaries, so it’s reassuring to see that employees also value non-financial qualities in their employer.

Salary 105

Salary Employment Government Media 105

Employee Benefits

JANUARY 19, 2024

US supermarket chain Walmart is to increase the salaries of its store managers and invest in a redesigned bonus programme from next month. As a result of its investment and upcoming annual increases, store managers’ average salary will rise from $117,000 (£92,283) to $128,000 (£100,960) a year.

Salary 59

Salary Management Bonuses Retail 59

Employee Benefits

FEBRUARY 22, 2023

Car salary sacrifice arrangements remain a popular employee benefit; in its January 2023 Leasing Outlook , the British Vehicle Rental and Leasing Association (BVRLA) found a 20.5% year-on-year increase in company cars funded through salary sacrifice to quarter three in 2022. What are car salary sacrifice schemes?

Salary 98

Salary Taxes Insurance Government 98

Employee Benefits

APRIL 17, 2023

Supermarket chain Tesco supports the financial wellbeing of its workforce through a salary advance scheme in addition to regular pay rises and an extensive benefits proposition. We have an ongoing commitment to offer the best possible benefits and support, especially in recent times with household budgets under pressure.”

Salary 105

Salary Education Finance Employee Benefits 105

Employee Benefits

AUGUST 2, 2023

Transparency around pay levels and salary capabilities helps to avoid frustration and misunderstandings and instead provide clarity and reassurance. When it comes to asking for a pay rise, knowing what those in a higher position are earning can help employees create more realistic expectations in terms of what they should be asking for.

Salary 98

Salary Management Education Finance 98

Employee Benefits

MAY 20, 2024

Gus Vickery, director, advisory at Gartner HR practice, explains: “This gave benefits professionals a sharper lens on the areas where employees need help and support. Alongside this, the range of employee benefits has expanded significantly over the last few years. appeared first on Employee Benefits.

Employee Benefits 64

Employee Benefits Benefits Package Voluntary Benefits Pension 64

Achievers

FEBRUARY 2, 2021

The term “employee benefits” is used regularly, but often with a limited, traditional definition in mind. The traditional concept refers to legally mandated benefits plus a few voluntarily added by employers. What are employee benefits? . Employee benefits are non-salary compensation and perks.

Employee Benefits 236

Employee Benefits Family and Medical Leave Act Employee Recognition Voluntary Benefits 236

Employee Benefits

FEBRUARY 28, 2024

Retailer Central Co-op has launched an electric vehicle salary sacrifice scheme as part of its ongoing commitment to sustainability. Eligible employees can participate by sacrificing a portion of their gross pay and will be able to save up to 40% on monthly costs.

Salary 64

Salary Gross Pay Retail Food 64

Employee Benefits

DECEMBER 5, 2023

Learnd has introduced an electric vehicle (EV) salary sacrifice scheme for 200 eligible employees. The scheme, which is provided by fleet management firm Gofor, was rolled out to employees via a webinar. EV salary sacrifice is tax-efficient for both employee and employer.

Salary 59

Salary Health Taxes Employee Benefits 59

HR Digest

MAY 25, 2023

The deeply embedded generational norms and cultural taboo of sharing salaries are being eroded as a new wave of pay transparency rules inundated America’s workplace problems. At the beginning of 2023, Washington, New York, and California joined Colorado’s leaders in preparing for salary transparency for most open jobs.

Salary 105

Salary Employment IT Employee Benefits 105

Employee Benefits

MARCH 23, 2023

If you don’t have a financial wellbeing program in place – or if it’s not on your radar – then you’re simply not supporting your employees’ wellness at all. Inflation, cost of living, and static salaries mean employees’ financial health cannot be overlooked this year. Not convinced? Let the numbers do the talking.

Employee Benefits 98

Employee Benefits Salary Healthcare Education 98

Employee Benefits

JULY 11, 2023

Employee retention poses a complex challenge that goes beyond merely offering a competitive salary. The prominence of employee perks is on the rise, and as such, workers’ expectations are also climbing. The remaining amount is covered by employees from their post-tax salary.

Employee Benefits 98

Employee Benefits Pension Life Insurance Health Insurance 98

Employee Benefits

FEBRUARY 16, 2024

Law firm Fragomen is to implement pay increases and minimum salary levels for both local employees and foreign nationals. From 4 April 2024, the firm’s employees aged 21 years and older will be paid a minimum of £11.44, up from the current rate of £10.42 In addition, its skilled worker route minimum salary will increase by 47.7%

Salary 52

Salary Employee Benefits Employment IT 52

Employee Benefits

FEBRUARY 28, 2024

Organisations are more likely to publish information on salary ranges than specific salaries, according to research by professional body the Chartered Institute of Personnel and Development (CIPD). The post Employers more likely to publish salary ranges than specific amounts appeared first on Employee Benefits.

Salary 59

Salary Pension Employment Recruitment 59

Employee Benefits

APRIL 17, 2023

It is important that salary advance schemes are explained properly so that staff fully understand how these operate and the costs involved. Many scheme providers will include financial education and guidance on how best to benefit from the scheme. The employer can set rules that limit withdrawal values employees can make.

Salary 111

Salary Education Finance Hospitality 111

Employee Benefits

SEPTEMBER 15, 2023

HM Revenue and Customs (HMRC) has published a consultation on proposed amendments to regulations that will allow employers to delay reporting advance salary payments made to an employee. The post HMRC publishes consultation on reporting salary advances appeared first on Employee Benefits.

Consulting 59

Consulting Salary Taxes Insurance 59

Employee Benefits

JANUARY 19, 2023

Almost one in five (19%) workers say they plan to leave their current job for one offering a higher salary if the cost of living crisis continues or gets worse. To retain staff, as well as boost their wellbeing and productivity, some firms have been able to offer salary increases in line with inflation, but this hasn’t been feasible for all.

Salary 98

Salary Food Finance Bonuses 98

Employee Benefits

APRIL 24, 2023

We asked Jonathan Watts-Lay, Director, WEALTH at work, about the perks of buying an electric car through salary sacrifice. This means employees pay less income tax and national insurance, making it one of the most cost-effective ways to drive an electric car. appeared first on Employee Benefits.

Salary 98

Salary Taxes Insurance Employee Benefits 98

Employee Benefits

JUNE 30, 2023

Salary budgets for UK employees are expected to decline in 2024 after peaking this year, according to research by Willis Towers Watson. The global advisory, broking and solutions firm’s latest Salary budget planning survey found that UK employers are budgeting an average increase of 4.4% This is lower than the average 5.1%

Salary 69

Salary Workplace Flexibility Bonuses Employee Benefits 69

Achievers

DECEMBER 16, 2019

“I don’t really care about my employee benefits,” said no employee ever. When it comes to employee benefits, if your business can offer it, employees want it. That’s the case for any employee benefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance.

Employee Benefits 281

Employee Benefits 401(k) PTO Benefits Package 281

Vantage Circle

JUNE 9, 2023

To bring in the best talent, you need to be offering the most competitive salaries, and that is what is going to change the end game. What is Salary Benchmarking? What is Salary Benchmarking? Salary benchmarking involves matching or exceeding the ‘benchmark’ salary levels across your industry.

Salary 98

Salary Media Payroll Hospitality 98

PeopleKeep

FEBRUARY 23, 2022

Offering stipends to your employees is a great way to show that you care about them without having to increase their salaries. Employee benefits like stipends are also proven to recruit job seekers while staying within budget. Can you pay employees a stipend instead of a salary? Reimbursement model.

Salary 98

Salary Taxes Recruitment Employee Benefits 98

Employee Benefits

OCTOBER 24, 2023

West Yorkshire-based building contractor Triton Construction has implemented an electric vehicle (EV) salary sacrifice scheme for its 70 employees. These are enhanced by an employer contribution based on savings made from a reduction in employer’s national insurance contributions via the salary sacrifice scheme.

Construction 59

Construction Salary Insurance Government 59

Employee Benefits

DECEMBER 13, 2022

Employee Benefits poll: Almost a fifth (18%) of organisations offer a salary advance scheme allowing staff to access their wages before payday, according to an online survey among Employee Benefits readers. The scheme, provided by Salary Finance, costs a single set fee of £1.49

Salary 83

Salary Employment Finance Bonuses 83

COMPackage

MARCH 28, 2024

To attract and retain top talent, employers should offer a strong compensation package that includes coveted benefits on top of a good salary. But what makes a benefit coveted? There’s no fixed answer because employees’ priorities change along with the times.

Employee Benefits 52

Employee Benefits Retirement Plan Medical Hospitality 52

HR Digest

DECEMBER 2, 2023

With numbers as big as these and burnout at an all-time high, it becomes increasingly important to take employee retention strategies seriously and explore what they can do to connect with their employees. Compensation and Benefits Appropriate compensation for the work done is a key component of many employee retention strategies.

Employee Retention 96

Employee Retention Salary Health and Welfare 401(k) 96

HR Digest

SEPTEMBER 18, 2023

Effective from 17 September this year, the pay transparency law will now enforce regulations that ensure employers who want to advertise a job posting are clear about what salaries applicants could expect for the position. How Does the New Law Work in NY?

Salary 86

Salary Commissions Retirement Plan Overtime 86

Employee Benefits

JUNE 28, 2023

Insurance firm Allianz has introduced an electric car salary sacrifice scheme for its more than 8,000 UK employees. The scheme, which is provided by ElectriX, part of LV= General Insurance and CBVC Vehicle Management, is available to all employees.

Salary 59

Salary Pension Deductions Deductible 59

Employee Benefits

JANUARY 18, 2024

Financial wellbeing benefits and incentives were at the top of the list of ways to persuade them to stay. That’s why SmartPay, our cost-neutral salary deduction scheme, is the employee benefit your people and business need in 2024. Offering financial employee benefits that support wellbeing. Affordability.

Employee Benefits 52

Employee Benefits Deductions Deductible Salary 52

Employee Benefits

MARCH 10, 2023

Retention rates are at a low, with 65% of employees thinking that they can find a better position elsewhere. A great way to improve retention rates is through offering great employee benefits. Benefits, including fringe benefits and flexible benefits, provide an employee an extra reason to stay within a company.

Employee Benefits 104

Employee Benefits Health and Welfare Health Insurance Work From Home 104