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As head of payroll bureau services at CIPHR’s sister company PBS , a payroll software and service provider, Jon and his team process payroll and BACS salary payments for 94,000 employees, across 500 organisations every month. CIPHR asked payroll expert Jon Lee for some pointers. Pension payments. Do I need to keep my payslips?
59% of employees feel their salary has not maintained pace with the rising cost of living. You also don’t want to have to continually replace people who leave for a better salary – it’s costly and time consuming to recruit and train new employees. But increased salaries may not always be feasible.
As an employer, you’re obliged to provide your staff with a workplace pension – a mandate made compulsory by the UK government in 2012. The government’s pension commission has suggested that individuals should aim for an annual retirement income comprising of 60-70% of their current income.
The company was founded in 2012 with an aim to change how people bought and sold cars. The staffing cuts have been detailed in a regulatory filing with the US Securities and Exchange Commission (SEC). Over a Zoom call, the company announced that it will be reducing its workforce by no less than 12%. Image Credit: Jim Hill).
Much of the employee protection (especially in the firing department) that had been in place from time immemorial is gone and with salary levels frozen, the workforce is about to become competitive. As a reaction to the current crisis, Spanish labor laws have been overhauled so radically that trade unions are still too dizzy to react.
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