Reward News
HR professionals paid less than the average UK salary
In a new analysis, it has been revealed that HR professionals are earning less than the average UK salary, in all but one region. New research from Ezra, a digital coaching platform, has shown that workers within the HR sector around the UK are earning less than the...
Companies publishing gender pay gap data has fallen by 80 per cent
The research finds a drastic drop in the amount of companies offering up their gender pay gap data, likely a result of the extension of the pay gap reporting. According to new data by the CIPD, the number of employers who have reported data about their gender pay gap...
Statutory Sick Pay sees an increase to £96.35 a week
Statutory Sick Pay has now increased from £95.85 to £96.35 a week, an increase of 50p. As scheduled, SSP in the UK has risen by 50p, from £95.85 a week to £96.35, an amount that an employee can get for up to 28 weeks. The amount of sick pay offered has been a...
A fifth of older workers forced to delay retirement due to COVID-19
A significant proportion of older workers have been forced to delay their retirement due to COVID-19 and a lack of financial preparedness. According to a new report by Close Brothers, just under one-fifth of workers aged between 65-74 and one in seven (14 per cent)...
Job security and flexibility more important than salary, say employees
A new poll of over 1,000 employees* reveals that priorities have been realigned due to COVID - with job security and flexibility becoming main priorities for employees deciding whether to stay in their current role. Law firm Winckworth Sherwood's new report outlines...
Employers seek to improve understanding of employee benefits
A new report shows that most employers believe more needs to be done in order to raise understanding linked to benefits and health programmes. According to research by Aon, a leading global professional services firm providing risk, retirement and health solutions,...
Matt Hancock allegedly pushing for an increase to Statutory Sick Pay
It has been reported by The Times that Health Secretary, Matt Hancock, is urging the Government to increase Statutory Sick Pay (SSP) in the UK. According to a report by The Sunday Times, Matt Hancock has allegedly pushed for an increase to the amount of SSP a worker...
Women facing a pensions pay gap of £100,000
A new report shows that women are saving £1,300 less a year than men - despite the gender pay gap being at its lowest level on record when it comes to pensions. New research by Scottish Widows, a life insurance and pensions company, analyses the structural...
Budget is an “insult” to public sector workers, say workers unions
After Chancellor Rishi Sunak unveiled his plans in the new Budget this week, he has faced criticism for failing to reverse policy that would see a pay freeze instated, targeting public sector workers. Workers' unions including the GMB and the TUC have spoken out...
Over half of employees feel leaders are acknowledging their work
New research shows an upwards trend when it comes to the amount of employees who feel that their work output is being recognised by leaders but there are still critical ways companies can improve. A new report by O.C. Tanner Europe shows that the number of employees...
Reward Analysis
Paul Jackson: The Challenges of Salary Advance Schemes
The recent publication of the Woolard Review marks a turning point for Employer Salary Advance Schemes (ESAS), the payment innovation sometimes known as ‘On-Demand Pay’. The Woolard Review is the latest report by the Financial Conduct Authority (FCA) into ‘change and...
Nicola Ryan: Why paying the real Living Wage is a ‘no-brainer’ for employers
The real Living Wage is the only UK wage rate voluntarily paid by thousands of UK businesses that believe their staff deserve to be paid fairly. Yes, paying the real Living Wage is morally the right thing to do for socially responsible organisations, especially during...
Sunny Lee: The art of negotiating salary and why it is important for everyone to take part
Why women tend to negotiate their salary less than men Across the world, there have been growing efforts to advance women and other minorities in organisations. Nevertheless, both research and anecdotal evidence suggest that women, compared to men, still negotiate...
Michael Doolin: What employers need to know about remuneration packages and benefits
The evolution of remuneration and the impact of COVID-19 COVID-19 has had a wide-reaching impact, touching almost every area of the business, not to mention the labour market. With many industries such as Hospitality taking huge hits, the introduction of the furlough...
Rebekah Tapping: How businesses are responding to National Living Wage increases
As the impending rise to the National Living Wage (NLW) draws nearer, the pressures on businesses to look at their remuneration package increases. Evidence from a recent report from the National Minimum Wage Low Pay Commission1 suggests that businesses are responding...
Danni Rush: Creating a diverse employee engagement scheme for a diverse workforce, the risks and rewards
Our workplaces are becoming increasingly diverse. For example, back in the 1970s, women represented 40 per cent of the workforce but now make up almost half (48 per cent). However, according to the World Economic Forum (WEF), there is still plenty more to do. As...
Deborah Frost: Making reward and recognition personal
A successful employee benefits programme only truly works when it is meaningful to the individual. Employees want to feel valued for their contribution, not like a small cog in a large machine. Research has shown that happy and engaged employees are up to 20...
Gail Cohen: Making the most of gift cards as an employee reward
Gift cards have become an increasingly integral part of many businesses reward schemes. Indeed, our most recent State of the Nation report revealed that the B2B gift card market has grown by more than 20 per cent year-on-year. From an employee’s perspective, the...
Ken Charman: Creating a reward strategy for the digital age
Recognition is becoming a motivational necessity. According to a recent survey across the US, UK and Australia, employees are rejecting generic and annual rewards as inadequate, instead demanding to be recognised in more timely and meaningful ways. Only 20 per cent of...
Jim Barnett: The art of putting cost effective employee benefits in place
Workplace benefits need to be carefully thought out and be seen not as a simple perk, but a real investment in personnel. Innovators – Google, Apple, LinkedIn and Virgin are continually coming up with innovative benefits to entice and retain talent from encouraging...
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