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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Vantage Circle

JUNE 13, 2023

Although there are innumerable ways of rewarding your employees, rewards like spot bonuses undoubtedly win it. Unlike traditional performance-based bonuses typically tied to annual or quarterly reviews, spot bonuses can be awarded anytime. Hands down! Spot Bonus- What is it? Why Give Spot Bonus to Employees?

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PayrollOrg

AUGUST 30, 2023

During this year's National Payroll Week® (NPW), PayrollOrg has your chance to win a bonus paycheck and dream vacation when you complete the "Getting Paid In America" survey.

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Achievers

NOVEMBER 29, 2024

These rewards can be tangible, like bonuses or promotions , or intangible, like recognition or praise. Incentive theory today recognizes that motivation comes from a combination of intrinsic factors, like personal satisfaction, and extrinsic rewards, like money or bonuses. What motivates people in the workplace?

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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? This has resulted in many employees receiving a more reliable income.

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Employee Benefits

JANUARY 4, 2024

That is all well and good, but we do still base our bonuses on performance and without ratings, we are rather making it up as we go along. Worse, we had no way to analyse the bonuses given out, other than against target. With bonus and pension related to pay also, the impact is compounded. Well, not exactly anyway.

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Employee Benefits

JANUARY 19, 2024

One-third (33%) of UK employers are planning on increasing salaries and bonuses at the start of this year, according to research by job website Totaljobs. The post 33% of UK employers plan on increasing salaries and bonuses in 2024 appeared first on Employee Benefits.

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Employee Benefits

FEBRUARY 9, 2024

Unite is currently in dispute with Barts NHS Trust and outsourcing firms Synergy and Mitie regarding a lump sum payment for their lowest paid staff. The post 2Gether Support Solutions staff awarded Covid bonus payment appeared first on Employee Benefits.

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HR Digest

DECEMBER 22, 2024

Many employees rely on their holiday PTOs and bonuses to help them prepare for the expenses in the new year, and so companies giving holiday bonuses are preferred to those that dont. Employers in the law and legal sector can expect the most generous of bonuses with the average between $2,501 and $5,000.

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Employee Benefits

SEPTEMBER 12, 2024

Wholesaler Parfetts has awarded its employees a 12% profit share bonus following a record year for turnover. The employee-owned business operates depots in Aintree, Anfield, Birmingham, Halifax, Middlesbrough, Sheffield, Sommercoates and Stockport. All qualifying employees will receive the bonus in October.

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Empuls

OCTOBER 30, 2024

Bonuses have long been a favorite tool for employers to boost employee motivation and engagement. While salary increases play a role, bonuses—especially those tailored to individual preferences—can have an even bigger impact on morale and performance. The challenge is that not all bonuses are created equal.

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Employee Benefit News

MARCH 21, 2024

The move follows better-than-expected earnings in recent weeks, and will benefit all eligible salaried workers.

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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 Benefit News

DECEMBER 13, 2023

The New York-based lender has already cut more than 300 senior management roles as part of a larger revamp.

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HR Digest

OCTOBER 28, 2024

These include cut in bonuses for top-tier employees, reducing additional payments for employee anniversaries, and exploring possible closures of some German production sites. Volkswagen’s wage cuts a part of cost cutting strategy Volkswagen’s leadership has discussed several potential cost-saving moves as per Handelsblatt.

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Employee Benefits

FEBRUARY 21, 2024

Its lower pay quartile comprised 66% females and 34% males, while its upper pay quartile was made up of 31% of females and 69% of males. Its mean bonus gap was 66%, down 1.6 percentage points on the previous year, while its median bonus gap was 57.6%, down 3.8 percentage points from 2022. A total of 91.6% of female and 90.5% percentage points.

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Achievers

MARCH 6, 2020

Based on gender identification from the survey, women (18%) are more likely than men (13%) to feel appreciated by receiving spot bonuses or monetary rewards. Alongside direct recognition for a job well done, nearly one in five (16%) say they prefer to be recognized by getting a bonus or other compensation-based reward.

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HR Digest

JULY 15, 2024

Workers have also been worried that the unsteady performance of the chips unit could put these bonuses at risk, cutting down on what they can expect to receive. Why Are Samsung Union Workers Striking?

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Hireology

JANUARY 4, 2022

Things that may seem small to you might really make a difference to job seekers today, such as free uniform dry cleaning, transportation reimbursement, or relocation bonuses. You can do this in a number of ways: Public leaderboard: Create a public leaderboard and track how many referrals each member of your team submits.

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Employee Benefits

MARCH 12, 2024

Its 2023 lower pay quartile comprised 68.5% men and 31.5% women, and its upper pay quartile 82.1% men and 17.9% The organisation’s 2023 mean gender bonus gap was 9.5% and its median gender bonus gap was 8.3%. A total of 95.4% of men received a bonus that year, compared to 95% of women. Its 2023 lower pay quartile comprised 75.8% men and 17.5%

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Money Talk

AUGUST 10, 2022

a high demand for workers (sometimes coupled with increased pay, signing bonuses, and/or remote-work flexibility) 2. One study found 1 in 5 retirees were likely to start working again soon. Factors contributing to this trend include: 1. vaccinations and booster shots reducing COVID infection fears 3.

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Money Talk

FEBRUARY 15, 2024

The term “ordinary income” is frequently used to refer to income sources that are taxed at the marginal tax rates described above. Examples include salary, wage, commission, bonus, and tip income, rents and royalties, interest, and required minimum distribution (RMD) withdrawals from tax-deferred retirement savings accounts (e.g.,

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Achievers

NOVEMBER 3, 2020

In fact, employees who receive frequent appreciation in the workplace are much more likely to generate innovations and increased efficiency. 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.

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Achievers

APRIL 4, 2022

If your marketing efforts emphasize that you offer competitive pay, flexible work hours, and holiday bonuses, for example, you’ll strengthen your employer brand. These points can be redeemed for rewards like gift cards, company merchandise, cash bonuses, and more. Customer experience is important as well.

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McDermott Will & Emery Employee Benefits

NOVEMBER 28, 2023

A Medicare program designed to incentivize high-quality care via physician bonuses is in doubt as providers say it’s caused more trouble than it’s worth. According to this Axios article, the Merit-Based Incentive Payment System has created a disparity between bonus winners and losers, and this disparity is only expected to grow.

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Hireology

OCTOBER 18, 2021

Plus, referrals end up being better performers once hired and they stick around longer, ultimately increasing productivity and reducing churn at your organization. But to yield these results, you need to put real effort into planning and executing your program. Your signs can even include a QR code for easy referral submission from a smartphone.

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Employee Benefits

MARCH 13, 2024

Annual growth in total earnings including bonuses was 5.6% in November 2023 to January 2024, and annual growth in average regular earnings excluding bonuses was 6.1%. Its labour market figures published on 12 March revealed that regular pay growth fell to 6.1% year-on-year in the three months to January from 6.2%

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Employee Benefits

FEBRUARY 14, 2023

Growth in total pay , including bonuses, was 5.9% 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 pay excluding bonuses, this was the highest growth rate seen outside of the Covid-19 pandemic. on average.

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Employee Benefits

APRIL 8, 2024

It also offers flexible payments, which allow Roadchef employees to choose exactly where, when and how they receive bonuses, rewards and expenses. They can choose to receive their payment instantly, send it to their savings account, or put it straight into their pension pot.

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Employee Benefits

NOVEMBER 23, 2022

The business’ winter support package initiative for January will be a one-off bonus of up to £125. The amount staff receive will depend on the number of hours they have worked in a week and is for those earning up to £30,000. International workers earning up to the equivalent of £30,000 will receive a one-off £100 bonus.

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Achievers

JUNE 29, 2020

For feedback to be effective and strengthen employee voice, conversations need to be personal and have two-way dialogue. Think about ways to problem solve together and empower employees to contribute their ideas and recommendations. . Bonus tip: How can you ensure your employee feedback is valuable and making an impact? Provide transparency?.

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Employee Benefits

NOVEMBER 30, 2022

The overall mean and median hourly difference in pay is £0.91 and zero respectively, because it has proportionally more men than women in its more senior roles. Meanwhile, its mean bonus gap decreased over the course of the year by a 0.1 percentage point to 14.6% for 2022, while its median bonus gap increased by a 1.2 percentage point to 14.7%.

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Employee Benefits

DECEMBER 13, 2023

This means that UK banks that had to limit variable remuneration to 200% of fixed pay are now permitted to pay bonuses at a higher level. The flexibility to reduce fixed pay and deliver a higher proportion of pay through bonuses will be welcome. The bonus cap has been removed.

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Business Management Daily

AUGUST 15, 2024

Smart managers don’t allow discussions about compensation, bonuses, promotions and career paths to live in the land of fear, secrecy and the forbidden. Furthermore, feedback is a major confidence builder as it strengthens the rapport between managers and the staff. Managers who ask for feedback in return from their team get bonus points.

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Employee Benefits

AUGUST 8, 2024

They also expressed specific interests in benefits such as free lunches, profit-sharing bonuses, fuel vouchers, wellness days off and transport vouchers. Around the world, 77% of respondents expect a pay rise in the next 12 months, while 20% do not anticipate a change and 3% expect a pay cut.

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Employee Benefits

AUGUST 23, 2023

Canteen/catering Breakfast and snacks are provided each day. Monthly lunches provided. Employee recognition scheme A monthly peer-to-peer bonus system where employees can nominate someone for an on-the-spot bonus. Employees can only receive one bonus per quarter. Voluntary benefits Access to a discounts platform.

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Employee Benefits

JULY 15, 2024

Three-quarters (75%) said their total payroll expenses, which include salaries, bonuses, variable pay and benefit costs, were higher than last year. Two-fifths (39%) of respondents reported having trouble attracting and retaining talent in 2024, dropping from 48% over the past two years.

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