A round-up of HR-related stories in today’s newspapers.
Britain faces a “brain drain” of talented professionals after it emerged that one-fifth of expats based in this country are considering returning home, according to a study of 4,100 expats in 100 countries. Rising inflation and poor job prospects have caused a further 67% of expats in Britain to believe the economy has deteriorated over the last year, the Telegraph reports.
Private-equity-owned healthcare and pharmacies group Alliance Boots has offloaded £300 million of pension liabilities to a specialist pensions insurance group in a bid to cap its pension responsibilities, according to the Guardian. The paper reports that the Pension Insurance Corporation is taking over the management of the old Alliance UniChem scheme, which has about 3,000 members.
British Airways staff could strike during the October half-term. Talks between bosses and the Unite union are expected as early as next week, according to the Daily Express. But Unite said a fresh ballot for industrial action was “inevitable” unless it saw progress. It said efforts to reach a deal had been “complicated” by the sacking of 16 cabin crew and the suspension of about 80 more over incidents related to the dispute.
Credit Suisse has defended a decision to award its London-based bankers with a surprise mid-year bonus by claiming that it had no choice after its compliance with British rules on pay backfired, the Telegraph reports. The Swiss bank suggested its decision to distribute a multi-million pound bonus-round was necessary to avoid losing key people to its rivals over the next few months. Around 400 bankers are expected to benefit from the windfall payments, which will be awarded today.