INDUSTRY NEWS
Industry news
Payroll salaries surge FIGURES RELEASED by recruitment company, Portfolio Payroll suggest salaries for payroll jobs have increased by up to more than 15%. It is thought that the ‘key worker’ status bestowed upon payroll professionals during the pandemic has raised the profile of the payroll industry, along with increased competition and a shortage of talent. However, the same research indicates that many payroll professionals are dissatisfied with their salaries, with 9% less than those recorded in 2019 confirming they feel their salary is satisfactory. The salary survey 2022 results can be accessed here: http://ow.ly/S01a30se3nC.
UK one of the worst countries in Europe for sick pay A NEW report, compiled by The Compensation Experts, suggests that the United Kingdom (UK) is the third worst country in Europe for workers’ sick pay. Iceland has been revealed as the best country in Europe for sick pay, while Malta has been identified as the worst. The top three countries and their sick pay offerings are listed below:
Minimum percentage of wage that can be paid during sick leave
Maximum period allowed off as statutory sick pay
Ranking Country
High number of employee absences relate to burnout RESEARCH CARRIED out by MetLife UK has highlighted the fact that millions of workers in the UK have called in sick, and been absent from work, due to feeling burnt out. Subsequently, employee burnout could be costing businesses more than £700 million a year. Two in five (44%) confessed that they’ve called in sick because of feeling: ● exhausted ● stressed ● depressed ● overwhelmed ● unmotivated. The findings also showed that women (54%) were more likely than men (35%) to call in sick due to feeling burnt out. Workers did admit to feeling guilty about calling in sick for this reason and 32% confirmed they were worried about their colleagues having to pick up additional work on their behalf.
2 days for each week worked
1
Iceland
100%
2
Norway
100%
52 weeks
3
Luxembourg
100%
89 weeks
Followed by the worst three countries below:
Ranking (1 being the worst)
Minimum percentage of wage that can be paid during sick leave
Maximum period allowed off as statutory sick pay
Country
1
Malta
€420.30 per month
22 weeks
No legal minimum sick pay
Determined by employee contract
2
Ireland
United Kingdom
3
£96.35 per week
28 weeks
The report was compiled by analysing sick pay packages across every European nation. Each country was ranked according to their respective minimum and maximum pay, along with the time for which an employee is entitled to claim.
UK organisations unsure about future of location pay RECENT DATA from XpertHR has shown that 44% of UK organisations aren’t sure about the future of their location pay arrangements. This is due to the pandemic and the shift to hybrid and remote working. Research carried out in January 2022, which received responses from 185 organisations, found that 55% of UK organisations offer location pay. More than two-thirds of organisations offer it to compensate staff living in high-cost areas, while two-thirds offer the additional pay to keep salaries competitive. The most common type of location pay is given in the form of a London allowance, provided on top of basic bay. Inner London employees receive a median location payment of £3,775, which drops to £3,250 for outer London. Despite the massive changes to working practices over the last two years, 79% of companies have made no changes to their location pay, but considerations are being made in relation to its future, given the growing trend of hybrid working.
| Professional in Payroll, Pensions and Reward | April 2022 | Issue 79 32
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