At a glance: reward and benefits headlines this week 23 February - 1 March 2018
The headlines you might have missed between 23 February - 1 March.
76% think Tesco equal pay case will lead to more claims
Employee Benefits: More than three-quarters (76%) of respondents think that the legal action being brought against supermarket organisation Tesco over equal pay will pave the way for more equal pay claims overall. Read story
Castle Cement drivers accept two-year pay deal
Employee Benefits: Drivers at bulk and ready-packed cement organisation Castle Cement who are members of the trade union Unite, have voted to accept a two-year pay deal. Read story
Admiral Group, EE and TSB Bank among Best Big Companies to Work For in 2018
Employee Benefits: Admiral Group, EE, Explore Learning, EY and TSB Bank are among the organisations recognised in the Sunday Times’ 25 Best Big Companies to Work for 2018 list. Read story
UUK joins CDC bandwagon as it sets out possible USS replacements
Professional Pensions: Universities UK (UUK) has suggested a collective defined contribution (CDC) scheme could be a replacement for the defined benefit (DB) element of the Universities Superannuation Scheme (USS). Read story
Dominic Chappell must pay £87k for information-sharing failure
Professional Pensions: Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information. Read story
Pay ratios ineffective in tackling inequality feel employers
HR Magazine: Employers and policymakers should be cautious in how they approach pay ratios as they could be too simplistic. Read story
Understanding the value of workplace pensions
Reward: This month has marked the final auto enrolment staging date for small employers. With concerns that the current contribution level is not enough to produce an adequate level of income in retirement, Jonathan Watts-Lay, Director, WEALTH at work comments on what employers can do next. Read story
Persimmon boss loses cut of bonus
HR Grapevine: Persimmon’s Chief Executive will have his bonus cut by £25m following criticism over excessive rewards, the BBC reports. Read story
What do employees value most in their career?
HR Grapevine: When times are tough, employers need to look at factors beyond pay and reward to ensure their staff are content with their role. Read story
Aldi reveals 4.8% gender pay gap
Personnel Today: Aldi has published a median gender pay gap of 4.8% – well below the average pay disparity between men and women seen across the UK. Read story
The Press Association reports a 0.8% mean gender pay gap
Employee Benefits: The Press Association has reported a 0.8% mean gender pay gap for fixed hourly pay as at 5 April 2017. Read story
Over 750,000 scheme members at risk of passing pensions to the wrong person when they die
Professional Pensions: Hundreds of thousands of people coming up to retirement are at risk of their pension being given to an ex-partner when they die, Royal London research finds. Read story
BMA rebukes NHSE and Capita over admin ‘fiasco'
Pensions Expert: The British Medical Association – the trade union and professional association for doctors and medical students – has been lobbying for improvements to the administration of the NHS Pension Scheme after member complaints and a motion by GPs last year to address issues with third-party administrator Capita. Read story
Care providers did not breach TUPE rules when dismissing zero-hours staff, says EAT
People Management: Businesses win appeal as judge finds work was ‘fragmented’ when contracts transferred. Read story
58% cite a good salary as biggest contributing factor to workplace happiness
Employee Benefits: More than half (58%) of respondents cite a good salary as one of the biggest contributing factors to their individual workplace happiness, according to research by CV Library. Read story
Herbert Smith Freehills launches gender affirmation surgery benefit for UK staff
Employee Benefits: Global law firm Herbert Smith Freehills has launched a medical benefit for UK-based transgender employees, enabling them to access gender affirmation surgery and psychological support as part of their benefits package. Read story
Investments costs to become clearer in April as DWP pushes disclosure
Professional Pensions: Defined contribution (DC) schemes will face new duties to disclose investment costs and charges as the government presses ahead with a bid to build a more transparent and trustworthy pensions sector. Read story
DWP presses on with s75 debt reprieve, and contracted-out and DC transfer measures
Professional Pensions: Defined contribution (DC) and contracted-out rights will be allowed to be transferred without member consent under regulations soon to be introduced. Read story
Employers can help to ease money worries
Reward: People who are struggling with their personal finances are less effective at work. The Rewarding Tomorrow’s Workforce survey explored what measures organisations are taking to ease the pressure on their staff. Maggie Williams reports. Read story
SJP director pay increases 20% year-on-year
Money Marketing: The pay of directors at St. James’s Place has increased 20 per cent over the year according to annual accounts published today. Read story
38% state that salary or wages play most important role in employee happiness
Employee Benefits: More than a third (38%) of respondents cite salary or wages as one of the top 10 factors that play an important role in their happiness at work, according to research by One4all Rewards. Read story
Marks and Spencer reports a 12.3% mean gender pay gap
Employee Benefits: Retail organisation Marks and Spencer has reported a 12.3% mean gender pay gap for fixed hourly pay. Read story
NASA implements initiatives to engage future workforce
Employee Benefits: Federal space organisation National Aeronautics and Space Administration (NASA) has implemented a range of new workforce planning initiatives to ensure the organisation is fit for the future. Read story
Toys R Us scheme to face PPF as company goes insolvent
Professional Pensions: The UK arm of Toys R Us has entered administration just two months after a major restructuring deal was agreed with creditors including the Pension Protection Fund (PPF) to prevent the company going bust. Read story
Post Office completes £450m buy-in with Rothesay Life
Professional Pensions: Post Office has agreed a £450m bulk annuity for its section of the Royal Mail Pension Plan, insuring all 5,700 members with Rothesay Life. Read story
UUK agrees to further talks to end strike over USS pension reforms
Professional Pensions: An agreement has been reached between Universities UK (UUK) and the University and College Union (UCU) to more talks in an attempt to end strike action over controversial pensions changes. Read story
Reward Gateway uses social interaction in reward and recognition strategy
Employee Benefits: Employee engagement organisation Reward Gateway has implemented aspects of social interaction into its reward and recognition strategy. Read story
New technologies can boost employee engagement
Employee Benefits: Introducing new technologies into a benefits strategy can improve employee engagement. Read story
DLA Piper introduces strengths-based performance management
Employee Benefits: Global law firm DLA Piper has introduced a strengths-based performance management approach for its senior management in order to increase employee engagement and unlock employees’ workplace potential. Read story
Lead from the back to instil a culture of engaging teamwork
Employee Benefits: Leaders should allow the most qualified team member to lead specific scenarios in order to keep individuals engaged with the overall objective. Read story
DWP to allow bulk DC transfers without member consent
Pensions Expert: The Department for Work and Pensions has pressed ahead with regulations easing the bulk transfer of defined contribution members without their consent, seen as a milestone in a drive for scheme consolidation. Read story
Apprentices should have access to your employee benefits
Incentive and Motivation: Employee benefits, including group risk products, can be a valuable tool in ensuring that staff are treated equally, but apprentices should also have access to the same entitlements, says Group Risk Development (GRiD), the trade body representing the group risk industry. Read story
Rise of Auto-Enrolment Contribution is a Benefits Opportunity
Reward: The introduction of new minimum contribution rates could boost the value of Employee Benefits according to research from MetLife UK. Read story