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About 1,000 Unite union members working at two Morrisons warehouses have undertaken strike action for three days over a cut in company contributions to their pensions. She said: “Unite will not stand for such behaviour from any employer, let alone one like Morrisons which is raking in massive profits in the midst of a cost-of-living crisis.
Employer Match- This is money contributed to employees’ retirement savings accounts to match what they save. Retail Rewards - Loyalty programs are common among retailers and restaurants and shoppers can earn points that convert to cash-off or free meals. Cash-back rewards are considered a rebate by the IRS and are not taxable.
Pension consulting and administration business XPS Pensions Group has been awarded menopause-friendly accreditation ahead of World Menopause Day (18 October). Ben Bramhall, co-chief executive officer at XPS Pensions Group, said: “We are delighted to have achieved accreditation as a menopause friendly employer.
Home improvement retailers B and Q and Screwfix, both owned by Kingfisher, have announced that shop floor workers will receive a pay rise to £10.60 Kingfisher also provides share schemes, discounts across various national retailers and access to financial wellbeing app Wagestream. from 1 April, an 8.2% increase, respectively.
Pension and group risk Trust-based defined contribution pension with 12% employer, 3% employee minimum contributions. Health screening for all employees, employer-paid. Employer-paid, but employee can fund up to 10% if it means added affordability, for example a tax efficient electric vehicle. Occupational health.
Travel-related benefits, pensions and carbon-offsetting schemes can all help employees make a difference to their carbon footprint, and that of their employer. Additionally, half (50%) say they would consider not working for an employer with harmful practices. Employers can help too by offering on-site charging facilities.”
The evidence of the impact on engagement, attraction and retention is in the employer’s turnover rate, which is lower than the UK average, proving that it is a worthwhile initiative for it to do each year. The TRS outlines what employee benefits have been on offer for the past 12 months. Offering choice is key,” he concludes.
Employers can offer financial wellbeing support based on which benefits are most frequently used, which will highlight prevalent financial issues among employees. As employers often have wide-ranging demographics that have varying preferences and needs, different communication methods will be required for each group.
Discount vouchers are often available through voucher and discount websites and many workplaces offer employee discount schemes with major retailers. It is important that employees understand the importance of saving into their pension from early on. Don’t neglect your pension. Don’t neglect your pension.
There’s been a marked increase in older workers leaving employment, what one tabloid has called the ‘silver exodus’. Wholesale, retail and customer service occupations are among the industries which have seen the largest changes. Should employers be worried? According to the Office for National Statistics, nearly 3.5
The aim of these initiatives was to reduce financial stress in the workplace by removing additional costs, improving wages and positioning the trust as an attractive employer, explains Adam Kirton, assistant director of workforce – pay, policy and reward, at Oxford University Hospitals. “We
Employers are experiencing increasing demand from employees for salary rises because of the pressures on everyday financial wellbeing, such as the ever-rising cost of living , inflation and interest rates. Employers realise that people need the tools and knowledge to navigate their way through the crisis, and for their future.
The last few years have caused many to reflect on how we spend our time, leading to employers having to re-evaluate their employee benefits package. So, what do employees value the most from an employer in this new world of work? Work:life balance Employee wellbeing is one of the top challenges for employers.
Credit: chrisdorney / Shutterstock.com Wedding venue and events business Gretna Green has received living wage employer accreditation from Living Wage Scotland. The accreditation celebrates employers that choose to go further than the government minimum by paying the real living wage on a voluntary basis to all relevant workers.
Credit: patat / Shutterstock.com Retailer Marks and Spencer has announced pay increases and enhancements to its maternity, paternity and adoption policies. Stuart Machin, chief executive of Marks and Spencer, said: “Our vision is to be the most trusted retailer and that starts with being the most trusted employer.
The industries with the largest percentage rises in inactivity among the over-50s are wholesale and retail (40% rise), transport and storage (+30%), and manufacturing (+25%). This was driven by increases in the state pension age , which rose from 65 to 66 from 2019-20. Workers beccmoing inactive (%) by income quartile. Author provided.
According to 2019 research by Hays , greater automation has decreased admin tasks for nearly half (49%) of HR employers, and 30% of HR professionals. For organisations in the retail or hospitality sector, managing time and attendance can be a long process – so investing in the right software to automate this task can make a big difference.
Benefits offered by Central Co-op: Pension and group risk. A group personal pension for all employees, with varying contribution levels. Life assurance, funded by the employer. Employee assistance programme, employer paid. Retail discount scheme. Healthcare and wellbeing. Health cash plan, funded by the employee.
Retailer Primark is to increase hourly pay for 27,000 retail employees so they benefit from an average 9.1% From 1 April, the organisation will increase its average hourly pay rates for all retail assistants across England, Scotland and Wales from £11 to £12, and from £11.51 for those in London.
The schemes helped employees learn how to manage their money better and some to save thousands of pounds through the Isa by utilising employer contributions. We’re doing a lot for our student employees in terms of cost-of-living benefits, including opening up [the] Isa for pensions contributions for them.
Credit: Serge Cornu / Shutterstock.com Around 50 workers employed by Edinburgh Airport Services have accepted a 12% pay increase and boosts to their shift rates and holidays. The employees, who are members of trade union Unite and are based at Edinburgh Airport, undertake various roles including customer services, drivers and baggage handlers.
The benefits on offer at Aldermore Bank: Pension A group personal pension (GPP) plan with salary sacrifice arrangement for all employees. Employee/employer contribution levels are 3%/6%, 4%/8% and 5%/10%. Group income protection, employer-funded for all employees up to 75% of salary for up to five years.
The retailer, which operates almost 2,400 food stores, more than 800 funeral homes and provides products to more than 6,000 other stores, including Nisa Retail, employs 56,000 employees.
between 28 January and 3 February 2022 were: University staff plan strikes over pensions and pay. What support can employers offer for staff going through gender transition? Three UK gives pay rise to retail staff. The top 10 most-read stories on employeebenefits.co.uk Deloitte introduces flexible public holidays.
Benefits on offer at FitFlop in the UK: Pension Group personal pension (GPP) plan offered via salary sacrifice arrangement for all employees, with 4.5% contributions from both employee and employer. Employee assistance programmes (EAPs), employer paid. Sanctus coaching, employer paid.
From April 2024, 16,500 employees at the home improvement retailer will get an extra 90p per hour, worth over £1,700 more a year for a full-time employee. This increase means our minimum hourly rate has increased by over 27% in the last 3 years and is currently the highest of any major UK retailer. “We per hour.
The benefits on offer at Trayport: Pensions and financial wellbeing. Group personal pension plan with Aviva with a 7% employer contribution. Group income protection for all employees, employer paid. Private medical insurance (PMI) for all employees, employer paid at employee-level cover. Group risk. Other benefits.
If implemented, this will represent a nearly 40% increase for those between the ages of 18 and 20, and severely impact the hospitality and retail sectors, where a large portion of the workforce is aged under 21. In return, the employer pays in each employee’s total pension contributions.
The benefits offered by Northwood Hygiene Products include: Pension Two group personal pension (GPP) schemes, with employee contribution rates of either 4% or 5%, and employer contribution of 5% or 4%. Healthcare and wellbeing Private medical insurance (PMI) for certain employee groups, employer paid. Online GP service.
Credit: bennphoto / Shutterstock.com Retailer Currys is increasing pay for its approximately 10,000 hourly-paid employees as part of an investment into their pay. The retailer has additionally increased minimum pay rates , which will rise to £11.50 Its store-based workers will now earn an average of £12.33 per hour in London.
Credit: Sundry Photography / Shutterstock.com Online retailer Amazon has announced that it will increase its minimum salary for frontline operations employees as part of a £170 million investment as of 15 October. According to the retailer, the increases mean its minimum starting pay will have risen by 20% in two years, and 50% since 2018.
The benefits offered by Nominet: Pensions A group personal pension (GPP) scheme for all employees. Healthcare and wellbeing Private medical insurance (PMI) for all employees, employer funded. Employer funded, but employees can opt for a higher level of cover at personal cost. Health screening.
Strike action is taking place as members claimed new rosters that the employer wants to introduce would see around 250 of them forced out of their passport control jobs. The workers, who are members of the Public and Commercial Services (PCS) union, work in terminals two, three, four and five.
For example, having a popular retail establishment on the ground floor of a residential building can attract more potential tenants and increase rental demand. These ambitious developments combine luxury residential units, high-end retail spaces, state-of-the-art office buildings, and world-class entertainment facilities.
Boots and the Pharmacists’ Defence Association (PDA) Union have announced that trainee pharmacists at the retailer will receive a pay increase from 1 April. Boots [is] acting responsibly to have recognised this and the PDA welcomes that [it is] now paying in excess of that.
It’s important for employers in the environmental sector to invest in their workers in order to attract and retain people to do such vital work.” Andrew Dobbie, national officer at Unison, said: “Members will now be seeing a good increase in their monthly salary. We’re pleased we could reach a settlement that members strongly backed.
Retailer Wickes and car sales business Auto Trader have been shortlisted in the Best benefits communications – large and small employers categories at the Employee Benefits Awards 2023.
But, with many sectors experiencing difficulties recruiting, employers are looking to broader benefits packages to attract and motivate the right people. Employers must do more to attract and incentivise their seasonal workers.” This also makes it easier to determine what they would value from their employment.”
The nurseries will receive additional funds through offset NICs from the employer, and parents get a say on how these are spent at a meeting every six months with the nursery and WorkPlace Nursery representative. The post FitFlop introduces salary sacrifice nursery scheme appeared first on Employee Benefits.
In order to achieve accreditation, employers are assessed by an independent panel and must demonstrate evidence of their effectiveness in culture, policies and practices, training, engagement, facilities and evaluation. UK building, infrastructure, engineering and fit-out firm Tilbury Douglas has received menopause-friendly accreditation.
Julie Harrison, chief HR officer at Allianz UK, said: “We are always looking at ways to improve our employee offering to make Allianz a fantastic place to work and this scheme is particularly important as it combines our role as an employer and insurer.
Credit: Sundry Photography / Shutterstock.com Online retailer Amazon has invested $1.3 These include an emergency savings programme and a financial assistance pilot, which are available from day one of employment. billion (£1.1 billion) into US customer fulfillment and transportation employees’ average hourly pay.
The scheme allows staff to apply for a flexi-voucher which can be used to buy a bike or cycling equipment from different retailers over the course of a year, without having to purchase everything at once.
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