Nursery places offered to HSBC employees |
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Published
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Sat, 30 Apr 2005 23:00
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The recent development, one of its kinds in UK, with a leading international bank, HSBC, is that it would offer nursery places and childcare vouchers for children up to the age of 16. This was formally declared after the union contemplated ‘strike’ over ‘pay disputes’. With all the 57,000 employees who could avail of this surprising offer, it practically meant a pay hike of 6.5%, as there this will be exempted from tax and national insurance payments.
The Amicus union, however has a different story altogether. They contradict that 45% of the workers will witness rise below the inflation rate and 10% of the employees will get no raise at all.
| The Employee Support – Head said that the bank endeavors to extend the childcare support that it has been offering since 1988. Besides, there is inundated requirement for the nurseries, considering the fact that the “Nurseries have become quite reputed with our staff.” Things don’t end here. The bank aims to double the number of workplace nurseries (for children below five), and have been conversing with a host of national nursery chains.
With the staff (with children below 16), being entitled to opt for nursery places or both, this innovative scheme also brings immense flexibility and subsidized rates.
Rob O’Neil, the Amicus National Officer expresses that, there is lot of ambiguity attached to this announcement. It cannot justify the workers that the bank is contributing; a benefit of this kind is introduced by the government and eventually paid by the taxpayers.
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