Employee Benefits

NOVEMBER 23, 2022

Global law firm Baker McKenzie is to pay its US associates end-of-year bonuses of up to $115,000 (£96,530) depending on seniority. The bonuses will start at $20,000 (£16,788) for those in the class of 2021 and increase up to $115,000 for its most senior associates. All fee earners are also eligible to receive a discretionary bonus.

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Employee Benefits

JUNE 1, 2023

Credit: DW labs Incorporated / Shutterstock.com Luxury fashion brand Valentino has signed a three-year results-based bonus agreement for employees in its Italian fashion business with trade unions Filctem Cgil, Femca Cisl and Uiltec Uil. The post Valentino agrees staff bonus deal and extends benefits appeared first on Employee Benefits.

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Employee Benefits

MARCH 16, 2023

Retailer John Lewis has announced that it will not be giving its employees a bonus for this year, after reporting a £234 million loss. The bonus is its annual share-out of profits, and all staff receive it as a percentage of their salary. The 2021/22 bonus was worth 3% of employees’ pay.

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Employee Benefits

JUNE 30, 2023

between 29 June 2023 were: Medtronic accredited as menopause-friendly employer Allianz introduces electric vehicle salary sacrifice scheme Who will win at the Employee Benefits Awards 2023? Exclusive: GI Group wins Grand Prix at Employee Benefits Awards 2023 TotalEnergies staff accept 15.5%

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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. The post HarperCollins agrees to pay increase and bonus for US staff appeared first on Employee Benefits. Once ratified, the contract will extend through 31 December 2025.”

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Employee Benefits

MAY 31, 2024

How engaged are employees with your organisation’s sustainability strategy? Last week, we reported on Lego’s move to link a portion of its salaried employees’ bonus payments to annual emissions. What role do they have to play in helping to achieve targets?

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Employee Benefits

DECEMBER 7, 2022

London-headquartered Zopa Bank has raised the minimum salary for its more than 600-strong workforce by more than 20% as a response to the cost-of-living crisis. The bank raised its base salary to a minimum of £27,000, 25% above the London living wage.

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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

DECEMBER 8, 2022

International recruitment firm STR Group has given its workforce a pay rise worth 5%, an investment of more than £250,000, as of 1 January 2023. Eligible employees are now able to earn commission on all billings, rather than those above a specific threshold. Now, they’ve announced the pay rise, and I’m over the moon.

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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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Employee Benefits

DECEMBER 7, 2023

Credit: Claudio Caridi / Shutterstock.com Automobili Lamborghini has signed an agreement to balance its Italian employees’ leisure and work time through greater flexibility and reshaping working hours. Non-production employees will receive 12 days per year of additional leave , as well as up to a maximum of 12 days per month of smart working.

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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

JULY 19, 2022

A tight labor market is set to benefit employees in 2023. 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. What is the average salary increase for 2022? Pay rises amidst a tight labor market.

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Employee Benefits

MARCH 14, 2024

When you think of employees and cycling, a Cycle to Work scheme is usually the first employee benefit that springs to mind… with good reason. We gathered some research in 2023 that found that 64.20% of the employees interviewed had access to a Cycle to Work scheme, but only 24.70% took advantage of it.

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Employee Benefits

NOVEMBER 29, 2023

The revised pay deal, secured by trade union Unite, will increase basic salaries by 8% and will be backdated to 1 June 2023. The deal also fully converts a fixed-contract payment worth around 5% into basic salary going forward. The post Odfjell Technology drillers accept pay deal appeared first on Employee Benefits.

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Employee Benefits

JANUARY 31, 2024

The living pension accreditation, which was launched in March 2023, is a voluntary savings target for employers and aims to support lower-paid employees who are not saving enough into their pension pots each year to prevent poverty and meet basic needs in retirement. The employer pays in at least 7%, or £1,630.

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Employee Benefits

JANUARY 25, 2023

Group income protection employer-paid for all employees, subject to acceptance by the insurer. Two years paid at half salary at time of acceptance. Subject to regular checks that make sure the employee still qualifies. Combined business travel/personal accident/sickness insurance policy, employer paid for all employees.

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Employee Benefits

NOVEMBER 6, 2023

It reduced its 2023 mean gender pay gap by 14.6% 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. The post Vivid closes median gender pay gap appeared first on Employee Benefits. points to just 0.5%.

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Employee Benefits

AUGUST 7, 2023

The Covid-19 pandemic and cost-of-living crisis have meant that graduates are also looking for wellbeing and financial benefits. Being aware of available support and inclusive benefits can be attractive even if graduates are unlikely to need them for a while. The post Benefits for graduates appeared first on Employee Benefits.

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Employee Benefits

DECEMBER 6, 2022

Publishing business Hachette UK has increased starting salaries and holiday benefits, and awarded staff a performance-related bonus and a cost-of-living payment. Due to come into effect in January, UK and Ireland publishing and distribution employees have been given a non-consolidated £1,000 cost-of-living payment.

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Employee Benefits

AUGUST 8, 2023

It also has a professional development scheme that funds training and qualifications that younger workers can take advantage of and allows those on the graduate schemes to be mentored by an experienced employee. The post Reed Specialist Recruitment invests in graduate proposition appeared first on Employee Benefits.

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Employee Benefits

NOVEMBER 29, 2022

Salaried staff have been given a 6% on average pay rise , which will come into effect as of January 2023. In addition, Ikea stated that every eligible employee will receive a bonus worth approximately one month’s salary before the end of the year, to recognise their contribution to the business’ performance over the past year.

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Employee Benefits

MARCH 6, 2024

Recent trends in pay suggest that both employers and employees are struggling to make ends meet. Analysis by the Living Wage Foundation, Employee jobs paid below the real living wage 2023, published in February 2024, found that 3.7 million UK jobs paid below the real living wage in April 2023.

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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. This looks set to continue into 2023, with employers forced to re-examine what their reward package offers their workforce and how they can improve it.

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Employee Benefits

JANUARY 17, 2024

Mental resilience was a hot topic at the start of 2023, but as the cost-of-living crisis took hold, the focus shifted to employee financial wellbeing and financial resilience. There’s a link between employee financial wellbeing at work and mental wellbeing. To be resilient means to be able to withstand and endure.

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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. Levy UK to pay real living wage from 2023. Baker McKenzie awards US staff bonuses up to $115,000. The top 10 most-read articles on www.employeebenefits.co.uk

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Employee Benefits

FEBRUARY 26, 2024

Tom Nash, HR Business Partner, Pluxee UK In 2023, the overall employee turnover rate in the UK was 13% (Cendex). SMEs (0 – 49 employees) make up 99.2% Let’s see how an annual employee turnover rate of 13% would impact them. 13% of 49 employees = 6 employees Replacing 6 x employees at £30,000 = £180,000.

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Employee Benefits

APRIL 25, 2023

Credit: William Barton / Shutterstock.com Specialist wine retailer Majestic has raised the hourly pay of its retail employees to at least £10.60 Store staff received an average salary increase of 6.7% for 2023/24 as a result of the new hourly base rate and pay structure.

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Vantage Circle

NOVEMBER 30, 2022

When looking for a new job, any self-respecting employee would look at the complete benefits package. Not just salary. Because majority of the companies know employees do this, and so they create a comprehensive package of benefits to attract employees. Employee Assistance Programs (EAPs).

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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.” This included bonuses in January 2023 which were weighted towards the lower paid. How is the cost-of-living crisis affecting what employees want from their benefits packages?

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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 30, 2023

com and sister business Jet2holidays have given their workforces a 9% pay rise , effective from April 2023. The businesses also increased their profit share scheme terms by one percentage point, so that eligible employees can get a 6% share. com and Jet2holidays give staff 9% pay rise appeared first on Employee Benefits.

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Employee Benefits

JUNE 29, 2023

The union also successfully negotiated a further five years of protection for airport workers who were members of the employer’s defined benefit pension scheme. A Manchester Airport spokesperson said: “We are pleased to have agreed a pay deal that benefits all our staff covered by the collective bargaining agreement at Manchester Airport.

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Empuls

SEPTEMBER 28, 2023

Employee benefits in the UK aren't just a nice-to-have; they're a strategic tool in the modern business arsenal. Employee benefits in the UK have emerged as the silent game-changer, influencing recruitment, retention, and overall workplace satisfaction.

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Employee Benefits

DECEMBER 2, 2022

75% of HR professionals see mental wellbeing as key focus for 2023. 47% of businesses plan bonuses for Christmas 2022. Forget Me Not introduces salary sacrifice pension scheme. The post The top 10 most-read articles between 25 November – 1 December 2022 appeared first on Employee Benefits.

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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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