At a glance: reward and benefits headlines this week 16-22 March 2018
The headlines you might have missed between 16-22 March.
70% call EAP for mental health problems
Employee Benefits: Nearly three-quarters (70%) of employees have called their organisation’s employee assistance programme (EAP) for help with mental health problems, according to research by Unum. Read story
United Utilities employees strike in dispute over pensions
Employee Benefits: Employees at water service organisation United Utilities who are members of Prospect, Unison and Unite trade unions are undertaking two days of strike action in a dispute over pensions. Read story
HSBC Bank reports a mean gender pay gap of 59% for 2017
Employee Benefits: Banking and financial organisation HSBC Bank has reported a 59% mean gender pay gap for fixed hourly pay across 23,507 employees for 2017. Read story
The hidden scandal of net pay and low earners
Professional Pensions: Ros Altmann calls for urgent action on 'net-pay' schemes, warning the impact on low earners will significantly worsen with contribution rates set to rise to 5% in 2019. Read story
USS members should bear most cost of higher contributions, say respondents
Professional Pensions: Universities Superannuation Scheme (USS) members should be responsible for most of the cost of increased contributions if the scheme's defined benefit (DB) section remains open to accrual, Pensions Buzz respondents say. Read story
Women push for equal pay settlement to be made pensionable
Pensions Expert: Former and current female employees of Glasgow City Council are pushing for pensions to be included as part of an equal pay settlement, as parties opt for negotiation over litigation. Read story
DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
Professional Pensions: The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed. Read story
Stephenson Harwood reports a 24.7% mean gender pay gap
Employee Benefits: Law firm Stephenson Harwood has reported a 24.7% mean gender pay gap for fixed hourly pay as at 5 April 2017. Read story
Ashurst to revamp bonus structure to include all staff
Employee Benefits: Multinational law firm Ashurst is revamping its bonus structure to enable all staff to be eligible for bonus payments. Read story
Goldman Sachs International reports 55.5% mean gender pay gap
Employee Benefits: Goldman Sachs International (GSI) has reported a 55.5% mean gender pay gap for fixed hourly pay. Read story
Criminal offence of pension scheme neglect to be introduced
Corporate Adviser: A new criminal offence of neglecting responsibilities to corporate pension schemes will be introduced in a set of draft proposals to be published by the Government this week, according to media reports. Read story
BT agrees deal with union to close DB scheme
Money Marketing: BT has avoided the potential threat of industrial action by agreeing a deal with its main union to close its defined benefit pension scheme. Read story
Higher earners most likely to experience work-related stress
Employee Benefits: Just under three-quarters (72%) of respondents earning more than £40,000 per annum experience work-related stress, making this the most likely earnings group to do so, according to research by Perkbox. Read story
H&M Group UK reports 8.06% mean gender pay gap
Employee Benefits: H&M Group UK has reported an 8.06% mean gender pay gap for fixed hourly pay. Read story
Steve Webb: Why auto-enrolment will pass its greatest test yet
Money Marketing: Encouraging factors suggest April’s increase in contributions will not lead to higher opt-out rates after all. Read story
GKN slams Melrose for 'misleading' claims over £3bn pension liabilities
Professional Pensions: GKN has slammed Melrose for making 'misleading' comments relating to the engineering giant's two UK defined benefit (DB) schemes. Read story
Current policies failing working fathers, MPs say
HR Magazine: New report calls for reforms to workplace policies to better support fathers seeking more active childcare roles. Read story
UK Professionals cite company pension schemes as the most important benefit
Reward: Employees are no longer looking for instant gratification but instead, they want to plan for a comfortable retirement. Research from Jobsite has revealed that UK employees consider a generous company pension scheme as being the most important benefit that can be offered. Read story
Working fathers failed by Government policy
Personnel Today: Policies designed to help fathers in the workplace need reforming if Government is to meet the needs of 21st century families and tackle the gender pay gap, according to MPs. Read story
Three-in-five UK CEOs most concerned about employee mental health
Cover: 84% of those without a corporate wellbeing programme plan to introduce one either within next 12 months or over next three years. Read story
The tax on share options is unfair
HR Magazine: More needs to be done to tackle two fundamental issues that overshadow share options' advantages. Read story
NHS pay deal to be offered without holiday loss
Personnel Today: More than a million nurses and other NHS staff in England will be offered a three-year pay deal in an end to years of pay restraint, according to reports. Read story
Government committee proposes giving fathers 12 weeks’ paid paternity leave
Employee Benefits: The Women and Equalities Committee has recommended the introduction of 12 weeks’ paid paternity leave and that statutory paternity pay should be set at 90% of fathers’ pay. Read story
Channel 4 reports a 28.6% mean gender pay gap
Employee Benefits: Media broadcasting organisation Channel 4 has reported a 28.6% mean gender pay gap for fixed hourly pay as at 31 March 2017. Read story
25% believe employee benefits and perks would positively impact productivity
Employee Benefits: A quarter (25%) of respondents believe that helpful employee benefits and perks would have the biggest positive impact on their productivity at work, according to research by Canada Life Group Insurance. Read story
FCA and TPR launch joint strategy to tackle pension problems
Professional Pensions: The FCA and TPR have announced their joint strategy for tackling the key risks facing pensions in the next decade. Victoria Ticha explores the plan and the industry's initial reaction. Read story
Regular pay falls by 0.2% in real terms
Employee Benefits: Regular pay for employees in Great Britain, excluding bonuses, fell by 0.2% in real terms between November 2016 to January 2017 and November 2017 to January 2018, according to research by the Office for National Statistics (ONS). Read story
White and Case reports a 24% mean gender pay gap
Employee Benefits: US-based international law firm White and Case has reported a 24% mean gender pay gap for fixed hourly pay as at April 2017. Read story
Asos and BBC named UK’s Top Companies for 2018
Employee Benefits: Apple, Asos, the BBC (pictured), Sky and Virgin are among the organisations that have been recognised on the Top Companies 2018 list for the UK, compiled by LinkedIn. Read story
HR Professionals Set to See Salary Increases In 2018
Reward: More than half (58%) of HR professionals expect to see a pay rise in 2018. A further 55% also expect to receive a bonus this year. Read story
Employers forecast highest pay awards for four years
Personnel Today: Pay awards in 2018 are expected to be at their highest in almost four years, with employers planning to increase their pay by an average of 2.5% over the coming year, according to XpertHR. Read story
Experts urge better female progression to address huge bonus pay gaps
People Management: Figures suggest bonuses dwarf regular pay gaps, offering ‘stark reminder’ of inequality. Read story
Female unemployment grows significantly, with pay still squeezed
People Management: ONS figures suggest more people are in work, but outlook on wage growth is concerning. Read story
GKN trustees agrees 'positive' mitigation measures with Melrose
Professional Pensions: The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week. Read story
Why a revised DB funding code must not be too rigid
Professional Pensions: The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach? Read story
Freshfields beats Linklaters and A&O in gender pay gap stakes
The Lawyer: Freshfields Bruckhaus Deringer has revealed the smallest gender pay gap yet in the magic circle, with an average hourly pay gap of 13.9 per cent between men and women at the firm. Read story