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2023 Personal Finance Events and Trends

Money Talk

Money market fund yields hit their highest level since 2007 and Treasury yields rose to decade-plus highs. Car-Buying - By Q3 of 2023, the average new car loan interest rate was 7.4% (highest since 2007) and the average car payment was $736 per month, a record high.

Finance 173
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Parfitt Cresswell establishes employee ownership trust

Employee Benefits

The firm was first established in 1908 and was acquired by the current owners in 2007. The firm decided to transfer ownership in order to increase productivity, profitability, competitiveness in the sector, sustainability and staff wellbeing , manage succession, and ensure its long-term success.

Bonuses 111
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Tribunal finds Oxford University professors should have had employee status

Employee Benefits

Alice Jolly and Rebecca Abrams worked at the university since 2008 and 2007 respectively, and both taught the Master of Studies degree in Creative Writing. An employment tribunal has found that two creative writing professors who were employed as gig workers by Oxford University should have had employee status.

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Highly organised CEOs can hold back a firm’s flexibility in times of change

Workplace Insight

To do so, the researchers reviewed a sample of almost over 1500 CEOs, across approximately 850 S&P 1500 firms, for the period of 2007-2018. The researchers wanted to understand whether a CEO’s personality traits had an impact on how strategically flexible an organisation could be.

Finance 79
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Delta awards 100,000 staff 10.4% of earnings through global profit share scheme

Employee Benefits

This brings the total amount paid out to employees since its creation in 2007 to $11 billion (£8.7 The scheme, which was created to boost employee morale and cultivate a workplace of gratitude and teamwork, allows staff to receive their share of Delta’s 2023 profit, with the payment representing more than one month’s pay.

401(k) 59
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Daemon’s reward approach supports its remote-first working model

Employee Benefits

At a glance Daemon was founded in 2007 and drives digital transformation for its clients. It has around 135 employees with the average age of 34. Typical job roles at the organisation include software engineer, cloud and development operations consultants.

IT 59
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Mandarin Oriental Hotel Group promotes Amanda Hyndman to chief people officer

Employee Benefits

Hyndman, who joined the group in 2007, was appointed group director of quality and rooms in 2020 due to her contribution to its success. Mandarin Oriental Hotel Group has promoted Amanda Hyndman to chief people officer.