There are often good reasons to link employee rewards with overall company value, particularly in the case of senior executive employees.  However, the formal requirements associated with share schemes and schemes based on shares (or their price) can be disproportionately burdensome, for example:

  • the company may be required to obtain an Australian Financial Services Licence (AFSL);
  • the company may have to issue a formal disclosure document; and
  • share schemes may be subject to the requirements for managed investment schemes.

Continue Reading Employee share scheme changes: Incentive to switch or just less red tape?

Statutory holiday pay should include variable pay and allowances

The European Court of Justice has recently decided in the case of Lock v British Gas Trading Ltd (Case C-539/12) that an employee should receive “normal pay” during their 5 weeks of UK statutory annual leave. “Normal pay” is not limited to base pay, but includes