Top 10 stories from this week: Strike action brings pay disputes into focus
Many of our members would have felt the knock-on effect of the rail strikes this week in more ways than just a lack of trains. The railway strikes have potentially caused a chain reaction across the public sector, according to Sky News, as workers including teachers, doctors’ and nurses are threatening to walk out.
Industrial action over wages, as a direct result of the cost of living crisis, has put the spotlight very firmly on pay, pay increases and inflation – which means that reward and pay professionals are going to feel the tension more acutely. Indeed, even those working in the private sector are not immune from pay disputes, as those undergoing transformation (as British Airways have) may have concerns the strikes will spill over.
Any organisation with a union may be feeling apprehensive as, in most cases, pay has been stretched to its furthest possible limit but is regrettably still not enough to save workers feeling the pinch.
This issue will undoubtedly be covered in the upcoming REBA Employee Wellbeing Congress, as employees' overall happiness will always hinge on the four pillars, and currently financial wellbeing has the top spot.
For more reward and employee benefits news you might have missed this week, read our top 10 snippets below.
Rail strikes: How much are public sector workers paid – and how do recent pay deals compare to what train staff want?
Sky News Striking rail workers are asking for a 7% pay rise, despite CPI inflation at 9.1% and RPI at 11.7%. NHS workers and teachers have also threatened to walk out if the government doesn't up their pay deals. Read more
UK businesses “wasteful” with ineffective workplace health initiatives
HR News Businesses must urgently shift away from a reactive “DIY” culture when it comes to workplace health and seek expert occupational health guidance to avoid wasting time and resources, according to a new survey. Read more
Employers can help with the cost of living – without giving pay rises
HR News There are steps that employers can take to help employees make their money go further, without giving a pay rise. Read more
Only 30% of UK workers say their employers care a lot about their mental wellbeing
HR News A recent study from youdo reveals a disconnect between employees and employers on the perceived value placed on key aspects of corporate social responsibility (CSR). Read more
Caribbean employees face widest ethnicity pay gap, research finds
People Management Findings released to mark Windrush Day also reveal half feel they are underpaid despite majority holding higher education qualifications. Read more
Money worries pushing people to work more hours and while ill, research finds
People Management Experts urge employers to have financial wellbeing policies in place, warning the cost of living crisis is not affecting everyone equally. Read more
Rolls Royce awards staff £2,000 to help with cost of living
Employee Benefits Rolls Royce has announced that it will award more than 14,000 of its workers a £2,000 one-off payment to help with the rising cost of living in the UK. Read more
35% of UK staff are changing jobs for better pay and benefits
Employee Benefits More than 6.5 million UK employees expect to quit their job in the next 12 months, with 35% moving elsewhere for better pay and benefits, according to CIPD. Read more
Four day week demands intensify as workers crave flexibility
Workplace Insight Six-in-ten (60%) UK workers would like more flexibility as to when they work, such as condensing hours into a four day week, according to a new report. Read more