McDermott Will & Emery Employee Benefits

MAY 31, 2022

On January 15, 2022, the New York City Council enacted Local Law 32 of 2022 (Wage Transparency Law or Law) to amend the New York City Human Rights Law (NYCHRL) to require that most employers include compensation data in their job advertisements. The Law was supposed to take effect on May 15, 2022, however, it […].

Employee Benefits 98

Employee Benefits Employment Executive Compensation Salary 98

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.”

Salary 95

Salary Education Human Resources Food 95

Insperity

OCTOBER 10, 2023

In December 2022, the U.S. In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 Act of 2022 says The implications of this law’s passage for your business How small and midsize businesses and their employees can both benefit Overview of the SECURE 2.0

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401(k) Retirement Plan Taxes Benefits Package 116

Health Consultants Group

OCTOBER 1, 2021

Reconsidering your employee benefits priorities. As your employees settle into their post-pandemic workflow, you’re probably noticing that they don’t want business-as-usual. After a year of unprecedented medical and personal experiences, employees can easily detect holes in their benefits plans. Contact Us.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

Employee Benefits

JUNE 30, 2023

Salary budgets for UK employees are expected to decline in 2024 after peaking this year, according to research by Willis Towers Watson. The global advisory, broking and solutions firm’s latest Salary budget planning survey found that UK employers are budgeting an average increase of 4.4% 2022 pay rises. 2022 pay rises.

Salary 69

Salary Workplace Flexibility Bonuses Employee Benefits 69

HR Digest

DECEMBER 2, 2023

In 2022, the U.S. employees quit their jobs in a year, indicating an average of 4.2 With numbers as big as these and burnout at an all-time high, it becomes increasingly important to take employee retention strategies seriously and explore what they can do to connect with their employees. million U.S. million each month.

Employee Retention 96

Employee Retention Salary Health and Welfare 401(k) 96

HR Digest

SEPTEMBER 18, 2023

Signed into law in 2022 by New York Governor Kathy Hochul, New York’s pay transparency law in 2023 is all set to go. Effective from 17 September this year, the pay transparency law will now enforce regulations that ensure employers who want to advertise a job posting are clear about what salaries applicants could expect for the position.

Salary 86

Salary Commissions Retirement Plan Overtime 86

HR Lineup

FEBRUARY 20, 2022

Leadership development is another one of the biggest challenges for HR in 2022. You see, it is crucial that you nurture employees with leadership skills and help them advance their careers. This is a strategic initiative that should be handled carefully to retain the best employees. Leadership Development. Trade Union Demands.

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Human Resources Management Electronics Recruitment 246

Employee Benefits

JANUARY 17, 2022

Three out of five (61.3%) UK professionals are unhappy with their current salary , according to a new survey. Despite many being unhappy, more than half (54.6%) stated they had never tried to negotiate for a higher salary. of UK staff are unhappy with their salary appeared first on Employee Benefits.

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Salary Hospitality Employee Benefits Management 64

Bayzat

OCTOBER 31, 2024

Sometimes referred to as a salary package, an employee compensation package is the overall combination of financial and non-financial rewards that employees receive in exchange for their work. Falling out of touch with what makes a strong employee compensation package may mean your company is losing its competitive edge.

Salary 52

Salary Bonuses Commissions Benefits Package 52

Employee Benefits

FEBRUARY 15, 2022

Average salary has soared by almost £1,500 in the last year, official data has revealed. Figures published by the Office for National Statistics (ONS) today included an estimate that median monthly pay across the UK was £2,050 in January 2022. This shortage of workers is pushing salaries up,” he said. “A This is up 6.3%

Salary 64

Salary Benefits Package Banking Recruitment 64

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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Benefits Package Salary Pension Health Insurance 118

Employee Benefits

JANUARY 10, 2022

In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. This may lead to pressures to select a pension scheme and investment strategy aligned with employee expectations and corporate values. There will be a need to be maintaining ongoing AE duties.

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Pension Net Pay Government Taxes 72

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 98

Health and Welfare Flexible Spending Account Flexible Spending Salary 98

Employee Benefits

DECEMBER 16, 2021

When a business considers offering a salary sacrifice scheme it is primarily promoted as a sweetener for employees, and the benefits for the employee are plentiful. A lot of this comes down to the culture of the organisation and how it is structured to reward and promote the most valuable employees.

Salary 52

Salary Human Resources Insurance Taxes 52

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.

Salary 59

Salary Bonuses Pension Consulting 59

Employee Benefits

JUNE 20, 2023

Car salary sacrifice arrangements are popular with employees due to the low cost and access to low and zero-emission vehicles. The Covid-19 pandemic saw many employees work from home, resulting in the number of people commuting dropping dramatically. appeared first on Employee Benefits.

Salary 105

Salary Transportation Taxes Work From Home 105

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.

Salary 59

Salary Banking Transportation Pension 59

Employee Benefits

NOVEMBER 16, 2022

The move comes after the organisation awarded a previous £1,000 payment to staff in July, after announcing it in its trading update for the year ended 30 June 2022. 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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Pension Salary Medical Insurance 104

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. The post The top 10 most-read articles between 18 – 24 November 2022 appeared first on Employee Benefits. Virgin Money gives staff 10% pay rise.

Bonuses 59

Bonuses Salary Employee Benefits 59

Employee Benefits

DECEMBER 2, 2022

It has also proposed an uplift of the minimum salary from £20,500 to £22,000. This would be the second change to the minimum salary since April 2022, when it stood at £19,000. The post NatWest gives 59,000 employees cost-of living payment appeared first on Employee Benefits.

Banking 111

Banking Salary Employee Benefits Management 111

Best Money Moves

JANUARY 10, 2023

Keep an eye out for these 3 major causes of financial stress among your employees. Average savings decreased by 15% in 2022, according to Northwestern Mutual’s 2022 Planning & Progress Study. Inflation remains the top cause of financial stress for many employees. 2023 is shaping up to be a tough financial year.

Finance 117

Finance Utilities Salary Education 117

Employee Benefits

JANUARY 16, 2023

Professional services firm Moore Kingston Smith looks to balance salary, recognition and benefits equally as part of its holistic approach to its people and their reward. Offering a competitive salary is important but it’s not enough, people have wide-ranging and sometimes complex needs.

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IT Salary Health Benefits Package 105

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). Businesses need to strike a careful balance between increasing salaries and profitability to ensure the business can weather the storm of potential economic challenges ahead.”

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Bonuses Salary Pension Employee Benefits 105

Employee Benefits

AUGUST 30, 2023

Those who participated in strike action from June 2022 onwards will not receive a performance-related payment this year. The deal saw an uplift on salaries of between 14.4% The post Network Rail withdraws annual bonuses for striking employees appeared first on Employee Benefits. for the lowest-paid grades to 9.2%

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Bonuses Overtime Salary Employee Benefits 111

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.

Employment 105

Employment Salary Consulting Pension 105

Employee Benefits

MARCH 27, 2023

Office for National Statistics (ONS) data, published in April 2022, Employee workplace pensions in the UK: 2021 provisional and 2020 final results , estimates that there were 20.8 For the 2022/23 tax year, employees will pay contributions on any earnings between £6,240 and £50,270. The income is taxable.

Pension 111

Pension Taxes Government Salary 111

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.

Pension 105

Pension Salary Retail Work From Home 105

InterWest Insurance Services

JULY 4, 2024

workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. It found that: 64% of health plan enrollees selected a traditional plan in plan year 2024, compared to 69% in 2022. While the number of U.S.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

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.

Employee Benefits 59

Employee Benefits Pension Transportation Commissions 59

Employee Benefits

FEBRUARY 15, 2023

To this end, in 2022 Mitie introduced a winter support package, particularly aimed at those paid under £30,000 per annum. How is the cost-of-living crisis affecting what employees want from their benefits packages? The post Mitie focuses on front-line reward as cost-of-living crisis mounts appeared first on Employee Benefits.

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Net Pay Benefits Package Bonuses Salary 105

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.

Pension 105

Pension Government Medical Salary 105

Employee Benefits

NOVEMBER 18, 2022

Supermarket chain Tesco has introduced a benefit that will allow its 280,000 employees to access up to 25% of their contractual pay early. The scheme, provided by Salary Finance, costs a single set fee of £1.49 The post Tesco launches pay advance scheme for staff appeared first on Employee Benefits.

Retail 105

Retail Finance Salary Education 105

Employee Benefits

AUGUST 15, 2023

increase from July 2022 and the highest rate since 2001, according to data from the Office for National Statistics (ONS). year-on-year increase from June 2022. Offering strong workplace benefits that genuinely help employees with their finances can make a huge difference to people’s lives, and how they feel about their employer too.

Food 97

Food Finance Salary Employee Benefits 97

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.

Parental Leave 52

Parental Leave Pension Bonuses Salary 52

Employee Benefits

DECEMBER 9, 2022

between 2 and 8 December 2022 were: Natwest gives 59,000 employees cost-of living payment. General Electric agrees to £15,600 payment for steam plant employees. Zopa Bank increases minimum salary to £27,000. Shelter employees strike in pay dispute. The top 10 most-read articles on www.employeebenefits.co.uk

Banking 10

Banking Government Salary Employee Benefits 10

Employee Benefits

FEBRUARY 21, 2024

As of 6 January 2024, the cut means that all employees who currently pay NIC will benefit. The extent of the savings will depend on an employee’s salary , with annual savings of £457 for employees on average earnings of £35,400 and £754 for employees earning over £50,270 per annum. Is it all good news?

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Insurance Employment Taxes Salary 108