At a glance: reward and benefits headlines this week 8-14 November 2019
The headlines you might have missed between 8-14 November.
Employers should ‘play a vital role’ in supporting staff with cancer
HR Review: With one in two people being diagnosed with cancer in their lifetime, an employee benefit provider has suggested that employers should “play a vital role” in supporting employees who suffer from the illness. Read story
PLSA calls for next government to increase AE contributions
Corporate Adviser: The Pensions and Lifetime Savings Association (PLSA) has called for the next government to target increased contributions into workplace pension to improve retirement outcomes. Read story
Industry warns ‘well educated’ risk losing pension savings
Corporate Adviser: The more educated an individual, the more likely they are to fall victim to a pension scam, according to new research released by The Pensions Regulator and Financial Conduct Authority. Read story
62 private schools exit teachers’ scheme as costs rise by 43%
Pensions Expert: A total of 62 independent schools have told the government they plan to leave the Teachers’ Pension Scheme, with more set to follow. Read story
Addaction drug and alcohol support staff strike over pay dispute
Employee Benefits: Drug and alcohol support staff employed by London-based charity Addaction are undertaking industrial action, spanning from 4 November to 8 November 2019, over the alleged reversal of pay promises made by their employer. Read story
Dakota Hotels staff save £15,000 through perks platform
Employee Benefits: As at 7 November 2019, and since launching a new perks and recognition platform in January 2019, hotel chain Dakota Hotels has seen its 490 employees share 318 moments of thanks and save an estimated total of £15,000 through discounted and free perks. Read story
Hospitals told to pay staff cash in lieu of pensions
Pensions Age: The NHS regulator has written to UK hospitals instructing them to pay doctors additional salary in lieu of pension contributions to stifle the ongoing pension crisis. Read story
Standard Chartered chief exec agrees 50% pension cut
Pensions Age: Standard Charted chief executive, Bill Winters, has agreed to take a cut of 50 per cent, or £237,000, to his annual pension allowance following shareholder pressure. Read story
Most employers don’t communicate employee benefits frequently enough
Incentive and Motivation: Research revealed today from GRiD shows that only a quarter (25%) of employers make a point of issuing regular communication on their benefits package. Read story
Companies defend mental health first aiders and state how important they are
HR Review: In response to a broking service to businesses and people identifying the top five reasons why mental health first aid training can fail, various companies have spoken up in defence of mental health first aiders, stating their importance and how they can be a “catalyst for engagement”. Read story
The Top Trends the Talent Pool Want in Your Business
HR News: People are a major contributing factor to any company’s success, and employers are always looking at how to hire talented employees to give their business more of an edge. According to CV-Library, HR professionals are saying today’s job market is 90% candidate-driven, which means that as an employer, you don’t choose talent – talent chooses you. Read story
How HR can support seasoned employers in the digital workplace
HR News: Mentoring and reverse mentoring can boost morale and productivity, while seasoned workers can also bring knowledge and stability to the workplace. Read story
AE safety net for employed women leaves entrepreneurs to struggle
Professional Pensions: A third of female entrepreneurs in the UK are not saving any money towards their retirement, figures from Scottish Widows show. Read story
Pensions bill 'lost' amid election uncertainties, says Gowling
Professional Pensions: For the pensions industry, the 12 December general election means the long-awaited pensions bill is “lost”, but probably “not forgotten”, according to a blog published by law firm Gowling. Read story
Employers engaging gig economy workers with pension savings despite AE rules
Professional Pensions: Over half (52%) of employers engage their gig economy workers for whom no pension provision is required to be made under UK law, according to the Association of Consulting Actuaries (ACA). Read story
Scottish plumber’s plight highlights ongoing Section 75 issue
Pensions Expert: The boss of a small Scottish plumbing company is the latest to receive a bill of more than £1m to cover a shortfall in a multi-employer defined benefit scheme. Read story
Real living wage set to rise by 30p per hour in the UK and 20p in London
Employee Benefits: The real living wage is set to increase by 30p per hour in the UK and and 20p in London. Read story
Daisy Communications hosts stress awareness week for 320 employees
Employee Benefits: Business communications provider Daisy Communications held a week full of activities to de-stress its 320 employees. Read story
Generation X at risk of retiring with inadequate savings
Employee Benefits: Generation X are at a greater risk of reaching retirement with a pension pot that is below what they need to retire comfortably, compared with the baby boomer and millennial generations. Read story
Former trustee admits £250,000 pension scheme fraud
Professional Pensions: The former trustee of a charity for the disabled has pleaded guilty to fraud after transferring more than £250,000 from the organisation’s pension scheme. Read story
Master trusts slash prices to 'attract new business' after authorisation
Professional Pensions: Cost savings of up to 20% could be made by pension schemes if they move to a defined contribution (DC) master trust, according to Hymans Robertson analysis. Read story
Employment rate is high because workers feel poor, says study
People Management: Lower-than-expected incomes are pushing more people into work and forcing them to increase hours, according to think tank. Read story
London-based McDonald’s UK employees strike over pay and conditions
Employee Benefits: London-based employees working at McDonald’s UK, and who are members of the Bakers, Food and Allied Works’ Union (BFAWU), are undertaking strike action today (12 November 2019) in a dispute over pay, job security and working conditions. Read story
Married employees in the UK receive equivalent of £2,390 per year in additional benefits
Employee Benefits: Almost two-thirds (63%) of UK employers offer additional benefits to married employees, according to research by Thomsons Online Benefits. Read story
Total pay has increased by 3.6% since October 2018
Employee Benefits: Nominal total pay, including bonus payments, for employees in the UK grew by 3.6% in real terms during the period of October 2018 to September 2019, according to analysis published by the Office for National Statistics (ONS). Read story
Corporate wellbeing grows to £3tn valuation
HR Grapevine: Over the past few years, numerous studies have evidenced the significant business benefit of ensuring that worker wellbeing is a core part of HR's responsibility. Read story
Calls for shorter City trader working hours welcomed
HR Magazine: The London Stock Exchange (LSE) has announced it is considering cutting 90 minutes off the trading day in a bid to improve worker mental health and attract more women and working parents to the financial sector. Read story
Almost 40pc of lower-earning women opt out of workplace pensions
Corporate Adviser: Pension savings hit 15 year high, but new research show gender gap persists, particularly among lower earners. Read story
Pension providers failing to provide “ethical” default options
Corporate Adviser: Product providers need to address growing demand for more socially responsible investment (SRI) options within workplace pensions. Read story
High Court approves BA deal with Airways Pension Scheme trustees
Professional Pensions: Justice Antony Zacaroli has approved the settlement deal between British Airways (BA) and the trustees of the Airways Pension Scheme (APS). Read story
News Scotland pledges to become endometriosis-friendly employer
Employee Benefits: Publishing organisation News Scotland, part of News UK, which publishes titles including The Sun and The Times, has made a commitment to become an endometriosis-friendly employer, in a bid to support the heath and wellbeing of female employees. Read story
Search Laboratory enhances flexible working policy to support staff wellbeing
Employee Benefits: Leeds, London and New York-based digital marketing agency Search Laboratory has introduced an enhanced flexible working policy in a bid to support and improve the wellbeing and mental health of its 150 employees. Read story
Arnold Clark hosts recognition awards for 1,100 employees
Employee Benefits: On 7 November 2019, automotive organisation Arnold Clark celebrated its employees’ success for 2019 with an awards ceremony that recognised long service, community impact and excellent customer service. Read story
Remote working has mixed effect on wellbeing, stress and productivity
Workplace Insight: Nuffield Health has released a review of remote working and its impact it on companies and their staff. Read story
BoE MPC vote could spell danger for pension schemes
Pensions Age: The Bank of England (BoE) Monetary Policy Committee (MPC) vote, which saw members voting to cut interest rates, could mean a difficult 12 months for pension schemes. Read story
Equal Pay Day: From today women effectively work for free for the rest of the year
HR Review: Today (14/11/19) is Equal Pay Day as it marks the day women stop getting paid during the year compared to men due to the gender pay gap, which comes ten days after Disability Pay Gap Day which marks the same except for disabled employees compared to non-disabled workers. Read story
UK CPI inflation falls to lowest level in two years at 1.5%
Professional Pensions: The UK’s consumer prices index (CPI) has fallen to its lowest level since November 2016, according to the Office for National Statistics (ONS). Read story
Illinois restaurant ordered to pay $27,155 for wage violations
Employee Benefits: Illinois restaurant Tequila’s Mexican Bar and Grill has been ordered to pay $27,155 (£21,113.96) in back wages to employees after an investigation by the US Department of Labor’s Wage and Hour Division (WHD) discovered the organisation was violating federal law. Read story
Hospitality industry has 25% gender pay gap for low-income jobs
Employee Benefits: Female employees in lower income jobs within the hospitality industry earn an average of £12,322 per year, compared to a male average of £15,459, making this the sector with the largest gender pay gap (25%) for low earners, according to research by Gumtree Jobs. Read story
Employees STILL haven't taken 2019's annual leave
HR Grapevine: Throughout the year, it is common that employees will utilise their annual leave allowance to soak up the summer sun and down tools for a few weeks of relaxation. Read story
Nearly two thirds of employees value kindness as leadership trait
Cover: A poll of 2000 UK employees has found that one-in-three employees feel that World Kindness Day (today) should be celebrated in the workplace. Read story
National Grid pension deficit rockets to £1.2bn
Pensions Age: The National Grid pension deficit increased by £980m in six months to total £1.2bn, as of 30 September, its half-year results have revealed. Read story
Two companies admit lying about staff auto-enrolment
Pensions Age: A recruitment agency and nursery operator, along with two of their directors, have admitted lying to The Pensions Regulator (TPR) by falsely claiming staff had been auto-enrolled into workplace pension schemes. Read story