Employee Benefits

NOVEMBER 1, 2023

First introduced by the European Union in 2014 in response to the 2008 financial crisis, the cap limited bonuses to twice employees’ basic salary. Many bankers have been happy with the relative security of higher fixed pay, all the more so as bonuses above a certain level are now subject to deferral.

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Employee Benefits

FEBRUARY 9, 2024

They had been undertaking industrial action since before Christmas after not receiving the payment from their employer, which they stated denied them the opportunity as they are not officially direct NHS employees. Many NHS workers received the Covid payment last year.

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Employee Benefits

OCTOBER 27, 2023

This is the question that has arisen this week following the Financial Conduct Authority’s (FCA) announcement that the cap on bankers’ bonuses will be scrapped from 31 October. Will we see a move back to the former model of higher bonuses, but lower basic salaries? When the cap was first introduced, it understandably had its critics.

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Employee Benefits

JANUARY 25, 2024

Jewellry brand Pandora has awarded its 2,600 retail employees across UK and Ireland a one-off bonus , following its 2023 financial results. The organisation will pay out bonus payments starting at £100, which will increase depending on employees’ roles. The bonus is in addition to their existing monthly sales incentive programme.

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Employee Benefits

NOVEMBER 28, 2022

Almost half (47%) of businesses said they planned to provide staff with year-end bonuses for Christmas 2022, according to research by Just Eat for Business. For those planning on providing Christmas bonuses, employers based the decision on sales targets (31%), profits (30%) and employees’ personal goals (29%).

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Insperity

APRIL 7, 2022

Employers usually offer bonuses to employees for a specific purpose (for example, to reward certain behavior or to recognize the achievement of established goals). For employees, bonuses are very popular because they represent an opportunity to earn more money beyond what their salary or hourly rate dictates. How employers benefit.

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Employee Benefit News

JANUARY 26, 2024

Workers are eligible if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000.

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Employee Benefits

NOVEMBER 6, 2023

Thousands of health workers will now receive a one-off bonus after threatening legal action against the government. A payment of at least £1,655 was agreed for NHS workers as part of their pay deal in England, but thousands of outsourced staff did not qualify for this as they worked for non-NHS organisations.

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Employee Benefits

SEPTEMBER 29, 2023

Wholesaler Parfetts has awarded its employees a 10% profit share bonus as part of its recognition of their contribution to its continued growth. Parfetts operates depots in Aintree, Anfield, Birmingham, Halifax, Middlesbrough, Sheffield, Sommercoates and Stockport, with operations covering England, North Wales and the Midlands.

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Employee Benefits

NOVEMBER 30, 2023

Ingka Group, which owns retailer Ikea, has announced that it will pay out a €311 million employee bonus based on good results this financial year, where revenue grew by 5.4%. The group’s global annual performance-driven bonus programme rewards employees when they meet or exceed specific business goals. loyalty pension programme since 2014.

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Employee Benefits

APRIL 24, 2023

Credit: Michael715 / Shutterstock.com LloydsPharmacy pharmacists have agreed to a pay deal in which they will receive a 3.5% bonus payment this month, followed by a 2.25% bonus in October. We are pleased with how the process has worked and that we have reached a good outcome.”

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Employee Benefits

DECEMBER 5, 2023

Retailer Ikea has awarded its UK employees with pay increases that reflect the cost of living, as well as year-end bonuses based on the last year’s performance in a more than £35 million investment. The post Ikea awards pay increases and year-end bonuses to UK staff appeared first on Employee Benefits. per hour to £12.60

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Employee Benefits

JUNE 27, 2023

Cash and carry business Parfetts has awarded its 1,000 employees a 4% sales growth bonus as part of its Employee Ownership (EO) Day (23 June) celebrations. This is higher than the 2% bonus that employees received in 2022, along with a £500 cost-of-living bonus. In March, Parfetts announced a 7.5% increase to their hourly rates.

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Employee Benefits

OCTOBER 27, 2023

Allied Irish Banks (AIB) is to introduce healthcare benefits and a bonus worth up to €12,700 for all employees. From 1 January 2024, it will introduce healthcare benefits for the first time for all employees in the Republic of Ireland and Northern Ireland. The initiatives are also designed to aid staff recruitment and retention.

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Employee Benefits

MARCH 14, 2023

The bonuses were decided upon by the firm’s board of management and the General Works Council, and apply to 25,000 tariff-scale German employees, who will receive it with their April 2023 pay. The aim of this was to ensure all employees eligible for bonuses will be closer aligned with Daimler Truck’s economic success in Germany from 2023.

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Employee Benefits

JULY 27, 2023

Graham de Guise, chief people officer at Osborne Clarke, said: “To reward our people for high performance, this year we’re offering performance bonuses up to 20% and all qualifying staff received a 4% profit share in June, with a £2,000 minimum payment.

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Employee Benefits

JANUARY 12, 2022

Operating across the Scottish highland region since 1994, Highland Home Carers (HHC) supports people living in their own homes with highly complex health and social care needs. It has a roster of more than 400 employees and has been an employee-owned organisation since 2004, rewarding staff with shares for working in challenging roles.

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Employee Benefits

NOVEMBER 10, 2022

Animal health and nutritional brand business Tangerine Group has rewarded 57 of its employees with more than two years of service with an annual profit share bonus. The staff have shared a £400,000 bonus pot, with those who have been with the organisation the longest receiving up to £10,000 in their most recent pay check. million to £37.4

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Employee Benefits

FEBRUARY 22, 2023

Credit: sylv1rob1 / Shutterstock.com French fashion and design brand Hermès has announced that it will pay its 19,700 employees a bonus of €4,000 (£3,519) this year. Axel Dumas, chief executive officer of Hermès, presented the year-end bonus plan at an analyst meeting on Friday 17 February. Dumas cited the brand’s net profit reaching €3.4

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Employee Benefits

MARCH 10, 2022

The John Lewis Partnership is to pay employees a 3% bonus, as well as committing to pay the voluntary living wage and implementing a wider pay rise. In addition, workers will receive a 2% pay rise, totalling an investment of £54 million. billion at its department stores.

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HR Lineup

APRIL 19, 2024

Unlike traditional forms of compensation such as salary and bonuses, equity compensation grants employees ownership stakes in the company. Unlike cash bonuses, which provide immediate gratification, equity awards typically vest over time or are tied to specific performance metrics. appeared first on HR Lineup.

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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. ” Valentino was contacted for comment prior to publication.

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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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Achievers

JULY 4, 2022

Deadlines, performance improvement plans, bonuses, and prizes are all sources of extrinsic motivation. They can come in many forms , including bonuses, schedule and location flexibility, and paid time off. What is employee motivation? It has a major impact on almost every part of your company, whether positive or negative.

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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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Darwinbox

FEBRUARY 7, 2022

Employee bonuses are the most intuitive and quick way to show appreciation for work and reward employees for their efforts. According to the size, net worth, culture, and policies of the business, bonuses can be designed to help raise the office morale and push every employee to strive and become the best versions of themselves.

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Employee Benefits

JANUARY 10, 2023

At the end of November 2022, Employee Benefits reported that 47% of businesses planned to provide staff with year-end bonuses for Christmas 2022. At the end of November 2022, Employee Benefits reported that 47% of businesses planned to provide staff with year-end bonuses for Christmas 2022. Conversely, 22.2% Meanwhile, 32.5%

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Achievers

MAY 26, 2015

Do you give your employees big annual bonuses as a reward for their work? If bonuses are going to serve as an incentive, you need to provide employees with clear metrics and objectives so that they understand exactly what they need to accomplish to earn the bonus. Most bonuses, however, only come 1-4 times per year.

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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. 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

DECEMBER 9, 2022

Declan Queally, a horse trainer in Ireland, was fined €4,000 (£3449.24) following an inspection of his stable yard and business, which found he had failed to pay necessary bonuses to staff under the Stable Employee Bonus Scheme. The post Horse trainer fined €4,000 for failure to pay bonuses to staff appeared first on Employee Benefits.

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Employee Benefits

JANUARY 27, 2022

In the chemicals; utilities; food and drink; and transport industries, the proportion of employees with bonuses increased significantly, although the value remained largely unchanged. Employees in Scotland and Wales had significantly lower average bonuses of approximately £1,500.

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Employee Benefits

JANUARY 7, 2022

The Merseyside-headquartered business said employees will get the bonus payment this month (January) following “strong” trading over Christmas. Festive business was boosted by efforts to take delivery of imported stock earlier than normal, in order to avoid disruption ahead of Christmas, said B&M.

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HR Digest

DECEMBER 12, 2018

As the festive holidays unfold, the issue of Christmas bonuses becomes a subject that confuses most people. Employers that can afford to pay Christmas bonuses may use them to encourage their employees. Christmas bonuses help to improve staff morale by allowing them to have a little more to spend during this time of the year.

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Empuls

SEPTEMBER 28, 2023

What exactly are these bonuses, and how do they play a pivotal role in the lives of UK employees? In this blog you’ll learn about the intricacies of cost of living bonuses, understanding their significance, and uncovering the key factors that shape them. But before getting started let's uncover the basics.

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HR Digest

JANUARY 2, 2019

Dear Jane, I work in an industry where bonuses are common. My prior law firm handed two bonuses a year; one in June and the other in December. Giving out year-end bonuses or gifts is a generous gesture on the part of an employer. End-of-the-year bonuses are truly discretionary. No Christmas bonus.

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Achievers

NOVEMBER 3, 2020

In the study, employees report that recognition is more effective at increasing their engagement, performance, and innovation than an additional bonus of five percent of their salary. This doesn’t sound like child play now does it? This type of support drives the team forward and propels them to victory. Would this have happened in an empty stadium?

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Employee Benefits

NOVEMBER 10, 2023

According to research by recruitment and employment technology firm Career Wallet published this week, the majority (91%) of employees under the age of 35 would prefer their employer to use Christmas party budgets on awarding bonuses instead. It would be interesting to see how these opinions compare to employees’ pre-pandemic views.

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