At a glance: reward and benefits headlines this week 4-10 January 2019
Your quick-read round up of the reward and benefits stories appearing in the press in the past seven days.
Transparent Action Plans Vital For UK Employers To Cut Gender Pay Gap, Warns Report
Global Payroll Association UK employers must commit to transparent action plans if they are to have any hope of narrowing their gender pay gaps, according to a new report. Read Story.
CIPD calls for overhaul of remuneration committees
Reward Strategy Real wages have still not recovered to their pre-2008 levels, while chief executive pay (CEO) has seen a dramatic rise in recent years, according to the Chartered Institute of Personnel and Development (CIPD). Read Story.
Health is main barrier to employment for 50-64 year olds
Occupational Health and Wellbeing More than one-third of unemployed people aged 50 to 64 are unable to work because of ill health, making it the main barrier to employment for this age group. Read Story.
Team-based sports perks more popular than benefits enjoyed alone
Employee Benefits Team-based sports perks are more popular with employees than those enjoyed in isolation, according to research by employee benefits platform Perkbox. Read Story.
Minister may act over retailers’ minimum wage woes
Personnel Today The business secretary is considering reforming national minimum wage rules to ensure employers are not penalised by the “complex” system, following reports that major retailers have fallen foul of the rules because of uniform policies or salary sacrifice schemes. Read Story.
Fat Cat Friday marks widening of CEO-worker pay gap
HR Magazine The UK’s top bosses make more in three days than a typical full-time worker will make in a year, according to research from the High Pay Centre and the CIPD. Read Story.
Most UK workers don’t receive pay for overtime, reveal researchers
Employer News More than half of UK workers (51%) who work additional hours outside their contract do not get paid overtime by their employer, according to the latest research by Jobrapido – the world’s leading job search engine with 55 million monthly visits and more than 80 million registered users in 58 countries. Read Story.
144% rise in number of businesses fined for auto-enrolment errors
Pensions Expert The number of businesses fined by the Pensions Regulator for auto-enrolment errors has climbed 144 per cent to 35,810 in 2017-18 from 14,650 in 2016-17, according to recent analysis by commercial law firm EMW. Read Story.
Most staff comfortable discussing health concerns at work
Occupational Health and Wellbeing Employees are becoming more open to talking about their health at work, research has suggested, with three-quarters of staff happy to discuss most health worries with their colleagues. Read story.
Two-fifths expect internal HR teams to provide at-retirement support
Employee Benefits EXCLUSIVE: The largest proportion of employers (40%) place the responsibility for providing at-retirement support at their HR, benefits, reward and learning and development teams, according to research by Employee Benefits and Barnett Waddingham. Read Story.
Sadiq Khan publishes guide to tackling gender pay gap
HR Magazine The mayor of London has published a toolkit for employers as the latest data on gender pay in the city reveals a “varied picture”. Read Story.
Average salaries in the UK increased by 7.6% over 2018
Employee Benefits Average salaries in the UK increased by 7.6% over 2018, according to research by independent job website CV Library. Read Story.
1 in 3 workers unhappy at work
HR Review In an age of job uncertainty, growing competition and rising workplace stress and anxiety, one in three workers report being unhappy at work with 45 per cent of workers looking to move jobs in 2019. Read Story.
UK workers still denied flexible working opportunities
OnRec Despite the changing business landscape, many UK workers state that their organisations still do not permit flexible working, reveals research by global IT accessories leader Targus. According to the results, a third (32 per cent) of UK workers said they do not have permission to work flexibly at all with 20 per cent of employees admitting it is allowed ‘but not encouraged’. Read Story.
Gender reassignment creating a ‘legal minefield’ for employers
Cover The demand for gender reassignment surgery is rising by 15% a year, research presented by the WPA at The Royal College of Physicians recently found. Read Story.
All UK Workers Entitled To Itemised Payslips As Of April
Global Payroll Association New legislation that requires all classifications of workers to be given itemised payslips will come into force in the UK as of this April. Read Story.
Cold-calling ban comes into force to tackle 'callous crooks'
Professional Pensions Pension cold-callers will face tougher sanctions from today as a long-awaited ban poses fines of up to £500,000 for "callous crooks" attempting to scam savers. Read Story.
One in three workers struggle to manage finances
Corporate Adviser Companies should be doing more to support the financial wellbeing of staff, with results from a new survey showing one in three struggle to manage their money effectively. Read Story.
Conduct an employee benefits audit or risk losing time and money, warns The Health Insurance Group
Employer News New Year’s resolutions aren’t just for employees, now is the time for businesses to review employee benefits packages, ensuring they are fit for purpose, and using them to recruit and retain staff – particularly important when staff return from a Christmas break with itchy feet. The Health Insurance Group lays out key steps employers should take to make sure their employee benefits work for them. Read Story.
44% of employees regularly continue work during their private time
Incentive & Motivation 61% of UK employees, the highest amount in Europe, say they often still think about work during their private time but 71% of these have no trouble with combining their work and private lives. These are the results of a survey of five thousand employees in Austria, Belgium, France, Germany, the Netherlands and the United Kingdom conducted by payroll and HR services provider SD Worx. Read Story.
90% of workers experience stress or emotional pressure because of work
Incentive & Motivation The overwhelming majority of Brits (90%) feel stressed in their jobs, while more than half (52%) describe themselves as stressed at work ‘most of the time’. That’s according to the latest workforce study released by experience management company Qualtrics. Read Story.
15 FTSE 100 companies set to offload pension plans by 2021
The Actuary As many as 15 of the UK’s 100 largest listed companies are set to offload their defined benefit (DB) pension schemes to insurers in the next three years, new research suggests. Read Story.
One in four young workers admit going into work still feeling drunk after nights out
HR News Almost a quarter (24%) of 18 to 34-year-olds say they have gone to work still feeling drunk after boozy nights out over the past 12 months. Read Story.
Young fear state pension will vanish before they retire
The Observer Many young people are losing confidence in receiving a state pension when they are older, with many doubting that it will exist at all, research reveals. Read Story.
Lack of appreciation making staff want to leave
Personnel Today More than a third of ambitious workers are dissatisfied in their current jobs, citing poor relationships with their managers and a lack of development opportunities as the main reasons they plan to find a new role. Read Story.
Employers still ‘unlikely to fund’ mental health treatment
People Management A new survey of UK mental health professionals has revealed growing concern over how employers are preparing for possible new government rules that would require bosses to take responsibility for employee mental health. Read Story.
97% of employers report rapid change in staff workplace expectations
Employee Benefits EXCLUSIVE: The vast majority of employers (97%) agree that the workplace expectations of staff are changing rapidly, according to a study conducted by professional services provider Aon. Read Story.
Disability and age discrimination are top concerns for UK employees
HR Review New survey from finds that disability and age discrimination are top concerns for UK employees. Read Story.
Majority of globally mobile workers unhappy with time available to spend with family
HR Review Over two thirds of globally mobile individuals (72 per cent) are unhappy with the amount of time available to spend with family, whilst almost a quarter of those (24per cent) who are single or living alone suffer from loneliness, new study reveals. Read Story.
UK takes 10th place in global rankings for workplace happiness
Employee Benefits The UK ranks 10th in the world for workplace happiness, according to a study by employee engagement organisation Engaging Works. Read Story.
Employees spending £174 a month on wellbeing products
Health Insurance Daily Employees in the UK spent an average of £174 per month on wellbeing products in 2018, according to research from Canada Life Group Insurance. Read Story.
UK worker productivity falls to two-year low
HR Magazine Experts believe people management must be a priority if we are to tackle workplace productivity issues. Read Story.
Novelty of a pay rise only lasts forty three days
Actuarial Post New research from Direct Line Life Insurance reveals that the novelty of a salary increase for UK workers wears off after just the first pay slip. Analysis shows UK employees, who have received a pay rise within the last five years, take on average just six weeks to ‘level up’ their spending habits after receiving a salary increase, with one in six (17 per cent) upgrading their lifestyle immediately. Read Story.
Make the most of pension tax relief before it is too late
The Observer Time may be running out for higher earners to make the most of pension tax relief and the annual £40,000 limit before the government moves the goalposts. Read Story.
Research reveals that we’re more vulnerable to stress in the evening
HR News Stressful events in the evening release less of the body’s stress hormones than those that happen in the morning, according to new research. This suggests that we are more vulnerable to stress in the evening, as less stress hormones are freed to help provide the body with the energy needed for the fight or flightmode. Read Story.
More families ‘being pushed into the red’
Health Insurance Daily Working families are worse off today than before the financial crisis, an analysis shows. Read Story.
Revealed: The UK's most-sleep deprived professions
HR News The stresses and worries of work are notorious for keeping people awake at night but now new research has revealed which professions are struggling the most to get a decent night’s sleep. Read Story.
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