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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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. Final bonuses of this kind will be paid to the highest-performing workers in April 2022.

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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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Employee Benefits

FEBRUARY 8, 2022

DF Capital has launched an electric vehicle salary sacrifice scheme for its 95 employees. The lending and personal savings bank said the initiative, run in partnership with Octopus Electric Vehicles, will make owning a new electric car more affordable for employees.

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Employee Benefits

FEBRUARY 9, 2022

Need to know: Environmental, social and governance (ESG) issues are influencing employee benefit design through the emergence of new benefits and the repositioning of existing ones to highlight their ESG-related characteristics. It’s no surprise, therefore, that ESG is also making an impact on the employee benefits offering.

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Employee Benefits

JANUARY 22, 2024

With help from in-house focus groups that regularly evolve our environmental, social, and corporate governance (ESG), social and professional policies, at Atradius, we’re looking beyond traditional perks at how we can make daily life more rewarding, and ultimately, happier for our employees. appeared first on Employee Benefits.

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Employee Benefits

NOVEMBER 16, 2022

More than 6,800 employees under the firm’s grade 5a tier will be eligible for the payment. The support will not change other pay-related benefits , such as pension contributions. The business also brought forward its annual salary review from 1 July to 1 April 2022, where it awarded a 5% increase to all eligible employees.

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Employee Benefits

APRIL 3, 2023

Pension and group risk Trust-based defined contribution pension with 12% employer, 3% employee minimum contributions. Group income protection benefit that pays 75% up to state retirement age. Life assurance at 10-times salary. Healthcare and wellbeing Private medical insurance (PMI), subsidised for all employees.

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Employee Benefits

FEBRUARY 17, 2023

As of December 2022, the UK Inflation rate stood at 10.5% Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. and therefore exceed the current LTA.

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Employee Benefits

FEBRUARY 19, 2024

Jennifer Wall joined as a commercial associate solicitor in November 2020, was told that she was performing well at an appraisal in July 2021 and received a £10,000 pay rise, increasing her salary to £75,000. The post Tribunal rules former Gannons solicitor on maternity leave was unfairly dismissed appeared first on Employee Benefits.

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Employee Benefits

FEBRUARY 14, 2023

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 example, one person might want an increase to their hourly wage, whereas another might be looking for a greater pension contribution or shopping discounts. on average.

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Employee Benefits

FEBRUARY 27, 2024

That’s why we’re making our biggest ever investment in our retail pay offer to recognise our [employees] for the vital role they play each day. Since March 2022, we’ve invested more than £146 million in our retail pay offer and increased our standard hourly rate by more than 26%.

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Employee Benefits

APRIL 19, 2023

The staff, previously received an average annual salary of £26,000, remove waste, keep towpaths clear and maintain locks and moorings on England and Wales’ waterways, among other duties. In 2022, Canal and River Trust offered a 5.5% pay rise appeared first on Employee Benefits. in October.

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Employee Benefits

FEBRUARY 6, 2023

IT recruitment consultancy Mexa Solutions, founded by brothers Simon and Bob Bath seven years ago, gave its team a 10% pay rise in October 2022 to mitigate the financial burdens they may be facing in the current uncertain times. The IFA also sits down independently with each employee to discuss personal financial needs.

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Employee Benefits

JULY 24, 2023

Cartwright, the pension specialist for defined benefit and hybrid schemes, has given each of its employees a one-off cost-of-living payment of up to £2,000. It is in addition to their salary , profit share and other performance-related bonuses. million investment, in response to the rising cost of living.

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Employee Benefits

MARCH 21, 2023

The last few years have caused many to reflect on how we spend our time, leading to employers having to re-evaluate their employee benefits package. David McCormack, CEO , HIVE360 , explains it’s important to first understand what benefits and support employees value the most.

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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

FEBRUARY 27, 2023

REBA’s research also found that pensions and insurances continue to dominate the focus of many organisations and their financial support packages. He adds; “Employers can start by looking beyond their pensions and insurances, which continue to dominate the focus of many organisations.

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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 17, 2023

They should try to aim for 3-6 months of their salary if possible and it is often a good idea to set up a standing order for saving rather than waiting to see what is left at the end of the month. It is important that employees understand the importance of saving into their pension from early on. Don’t neglect your pension.

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Employee Benefits

FEBRUARY 15, 2023

Many providers of existing benefits, such as pensions , will have education modules to increase awareness of the financial provisions on offer. 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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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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Employee Benefits

DECEMBER 15, 2021

The benefits on offer at Trayport: Pensions and financial wellbeing. Group personal pension plan with Aviva with a 7% employer contribution. Group income protection for all employees, employer paid. Life assurance at four times annual salary. Critical illness insurance, employee funded. Group risk.

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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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Employee Benefits

FEBRUARY 28, 2023

Financial wellbeing support is integral to employers being able to meet their high-level HR objectives, according to research by The Reward & Employee Benefits Association (REBA) in association with WEALTH at work. Organisations are also funding a range of employee benefits to help employees’ money to stretch further.

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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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Employee Benefits

FEBRUARY 8, 2022

Author Name: Tracey Ward, Head of Business Development and Marketing at Generali UK Employee Benefits. 1 Meanwhile, for employees, all of this is only serving to add to all the change and perceived uncertainty currently faced in their working lives, not to mention the very tangible pinch as UK inflation hits a 30 year high.

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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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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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Business Management Daily

APRIL 25, 2023

Beginning in the spring of 2021, employees began leaving their jobs in record numbers. According to a poll from Skynova , 7 in 10 respondents felt that salary is the most important aspect of a job posting, followed by information about the benefits package. the best employees seek something more comprehensive.

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HR Professionals Magazine

JANUARY 31, 2022

Employer-sponsored retirement plans are divided into two major categories: defined-benefit plans and defined- contribution plans. As the names imply, a defined-benefit plan—also commonly known as a pension plan—promises a specified benefit amount at retirement. Examples of. the investments.

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Bayzat

JULY 14, 2023

How are employee issues dealt with? How do the different HR processes work, from time management to employee benefits? You don’t want processes such as payroll to be separate from the overall employee experience. Keep in mind that compensation isn’t just about the daily salary.

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Employee Benefits

DECEMBER 14, 2022

Organisations are showing increasing support for diverse family models, and employers are more likely to provide benefits to parents these days than in the past. 2022 was a year of much change, with the cost-of-living crisis raging on and many employers stepping in to help their lowest-paid workers with one-off payments and pay rises.

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Employee Benefits

DECEMBER 20, 2023

In retirement, many will probably be paying significantly less income tax, no National Insurance or pension contributions, and mortgages may be paid off, but other costs may be higher such as heating bills as retirees may spend more time at home. They then need to work out the value of their savings and investments including pensions.

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Employee Benefits

FEBRUARY 5, 2024

Law firm Stephenson Harwood has offered a salary sacrifice electric vehicle scheme to its 700 employees through provider Tusker since 2022. We have noticeboards around the office explaining how people can save money through the scheme and how the benefits platform generally can save them money,” says Tripp.

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Bayzat

SEPTEMBER 25, 2023

The new law came into effect on 2 February 2022. The fixed-term contract means an employee is hired on a fixed term that may be extended or renewed for a similar or shorter period. The monthly salary you receive is not less than AED 4,000. Employees also need to notify their employer within a maximum of three days.

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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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