Managing reward: Resources and jargon buster
Section ten of the Personnel Today Management Resources one stop guide on managing reward, providing addresses and web links for a host of relevant resources, and a jargon buster. Other sections .
Resources
Reward Strategy
Outset: www.outsetuk.com
E-reward: www.e-reward.co.uk
CIPD: www.cipd.co.uk
Personnel Today: www.personneltoday.com
Industrial Relations Services: www.irsonline.co.uk
Job Evaluation and Grading
Hay Management Consultants: www.haygroup.com
Link: www.link-hrsystems.co.uk
PA Consulting: www.paconsulting.com
Pay and Benefits Surveys
Watson Wyatt: www.watsonwyatt.com
Mercers: www.mercerhr.com
Towers Perrin: www.towers.com
McLagan: www.mclagan.com
Pensions and Company Cars
Monks Partnership:www.monkspartnership.co.uk
Alan Jones: www.alan-jones.co.uk
Pensions Service:www.thepensionservice.gov.uk
Flexible Benefit Plans
Procentia: www.procentia.co.uk
Gissings: www.gissings.com
You At Work: www.youatwork.co.uk
Share Schemes
New Bridge Street Consultants: www.nbsc.co.uk
Ernst & Young: www.ey.com
International Assignments
Employment Conditions Abroad (ECA): www.eca-international.com
Organisation Resources Counselors (ORC): www.orc.com
Runzheimer Corporation: www.runzheimer.com
Jargon Buster
AESOP All Employee Share Option Plan (subsequently re-branded SIP)
Approved The description the UK Inland Revenue attaches to pension, benefit or share plans which have been approved to receive favourable tax treatment
CSOP Company Share Option Plan, which provides tax favoured status to options granted with a face value of up to £30,000
GAYE Give As You Earn (tax efficient payroll giving to charity)
Median The data point at which 50 per cent of the sample (eg, pay survey data) is higher and 50 per cent is lower
Non-qualified US Internal Revenue Service's (IRS) equivalent of UK Unapproved
Qualified US Internal Revenue Service's (IRS) equivalent of UK Approved
PHI Permanent Health Insurance (another name for a long-term disability plan)
Risk benefits Employee benefits which typically insure against the contingencies of life, such as illness (medical benefit plans) or incapacity (long-term disability plans)
Risk of forfeiture A requirement that has to be maintained to avoid payment being taxable, ie, the benefit remains 'at risk' of being forfeited
SAYE Save As You Earn, usually associate with Sharesave
Section 423 Plan An Employee Stock Purchase Plan (ESPP) not dissimilar to the SIP or Sharesave
Share Option The right to buy or sell a share at a pre-determined price
Sharesave An all employee share purchase plan linking share options to a tax-favoured savings plan with a bank or building society
SIP Share Incentive Plan (all-employee share plan)
Unapproved The description the UK Inland Revenue attaches to pension, benefit or share plans which have no special tax or NIC concessions attached to them
Upper quartile The data point at which 75 per cent of the sample (eg, pay survey data) is lower and only 25 per cent is higher
Vesting The point at which a benefit entitlement crystallises in the name of the beneficiary
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Section two: Job evaluation and grading Section three: Base pay and salary structures Section eight: International assignments Section ten: Resources/ jargon buster
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