AXA Sun Life: merit and market rises
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Pay award: 3.8% pay pot (of which 0.6% was paid at mid-year) Employees covered (nos.): frontline staff (2,000) and managerial and professional staff (1,100) Effective date: 1 January 2005 (frontline staff) and 1
February 2005 (managerial and professional) |
AXA Sun Life, the Bristol-based life and pensions arm of AXA UK, has awarded its employees merit and market-based rises, effective from 1 January 2005 for frontline staff and from 1 February 2005 for managerial and professional employees.
New reward strategy
The company launched a new reward strategy for 2005, with salary increases linked to a combination of personal performance and an employee's position relative to the market median, with higher increases awarded to employees who are paid lower than their median market salary.
