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AnalysisHow to review a pensions contribution structure
Source: Andrii-Yalanskyi/Shutterstock Employers should review DC pension contribution structures to keep employee incentive and remuneration packages relevant as well as keep up-to-date with legislation. Contributions may need to be restructured or harmonised to take account of legacy systems, as well as reviewing gender ...
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AnalysisHow to overcome the disconnect between benefits on offer and what staff really want
Source: Shutterstock Need to know: Many employers are seeing a gap emerge between the benefits they offer and what employees actually want. Work-life balance, wellbeing and financial support are especially valued by employees. Employers need to talk to staff, offer them a degree of choice ...
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AnalysisHow to maximise benefits communication with employee involvement
Source: Shutterstock MetLife’s 22nd annual US employee benefit trends study, published in March 2024, found that employees who understand and use their benefits were 88% more likely to feel cared for by their employer, compared to 34% of those who do not. This highlights the importance of ...
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AnalysisHow to conduct an ethnicity pay review
Source: Shutterstock Mandatory ethnicity pay gap reporting will be introduced in the future, along with the Equality (Race and Disability) Bill. Ethnicity data is a special category under GDPR, so employers must state what it will be used for and how it will ...
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AnalysisHow to support employees with addictions
Source: From Shutterstock 1714751662 Some signs of addiction to look out for include changes in appearance or behaviour, and an increase in lateness or absence. Signposting to external resources and confidential counselling services should be offered as forms of support. Early intervention can lead to ...
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AnalysisHow employers can support staff through critical illness
Credit: Chumakov Oleg / Shutterstock Need to know: While the focus of group risk benefits was previously on the claim aspect and the monetary payout, now it is more about the crucial support and wellbeing benefits included in many policies. Communication of group risk benefits through ...
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AnalysisHow to take an inclusive approach to festive celebrations
To support a diverse workforce during the festive season, employers should foster an accepting environment that includes everyone. Providing choice regarding annual leave is key to ensuring all employees’ beliefs and cultural holidays are recognised. Gifts should not be restrictive towards any lifestyles or abilities. ...
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AnalysisHow can employers empower staff to take responsibility for their own health?
Encouraging staff to take responsibility for their health should start with a culture of personal accountability.Employers can show they care about employees’ health by providing solutions and services tailored to their needs.Facilitating conversations around health can help to reduce stigma and ensure workplaces are more inclusive.Benenden Health’s August 2024 research ...
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AnalysisHow to improve employees’ confidence in making pension investment choices
Choosing a pension provider that offers easily accessible and age appropriate investment education can increase employees’ confidence on the topic. Investment fund choices for employees with specific needs or beliefs ensure wider needs are met. Offering financial guidance and advice, as well as signposting to resources, ...
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AnalysisWhat are the priorities for public sector reward agendas?
Credit: tete_escape/ Shutterstock Need to know: In the public sector, financial constraints, benefit guidelines and stakeholder scrutiny can make reward more challenging. Years of reforms mean public sector employees often perceive their pensions as offering poor value: creative communications could help to change this misconception. Highlighting ...
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AnalysisHow to help staff trace and consolidate small pension pots
Credit: Dilok Klaisataporn/ShutterstockNeed to know:Significant amounts of money are tied up in small pension pots, many of which may have been forgotten.The Pensions Tracing Service can help people reconnect with lost pensions.Employers can help staff with this process and engage with pensions more generally.The UK is sitting on a ticking ...
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AnalysisWhat could the Labour government mean for employers' reward and benefits strategies?
Credit: Mistervlad/Shutterstock Need to know: The Labour government’s Employment Rights Bill will enhance employee rights but there are concerns that proposals could have unintended consequences, adding cost, disadvantaging some businesses and their employees, and affecting recruitment strategies. Extending pay gap reporting to ethnicity and disability may ...
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AnalysisDo financial wellbeing strategies support employees where they really need it?
It is important to understand employees’ needs before putting any financial wellbeing strategies in place. Any employee, regardless of their salary, may be in need of financial wellbeing support, so a sensitive approach to gleaning this is desirable. Encouraging conversations about financial needs and experiences can ...
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AnalysisAre reward professionals ready for the 2026 P11D changes?
Credit: Hyejin Kang/Shutterstock Need to know: Employers should start planning now for the P11D changes to the reporting and paying of tax and Class 1A national insurance contributions (NICs) on benefits in kind, to ensure a smooth transition to the new system in April 2026. Potential ...
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AnalysisWhat impact do charity initiatives have on employee engagement and motivation?
Employers should offer a variety of charity and volunteering initiatives and seek feedback on causes that are close to employees’ hearts. An organisation that is seen to be making a difference in the world can be attractive to current and potential staff. Monitoring participation levels and ...
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AnalysisBuyer’s guide to total reward statements
Credit: Pickadook/ShutterstockWhat are total reward statements?Total reward statements are personalised communications that show employees the total value of their compensation package beyond just salary. This can help people to recognise the entire value of the employment deal beyond their pay, making total reward statements a potentially powerful tool in communicating ...
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AnalysisSupporting the mental health needs of today’s workforce
In order to implement appropriate mental wellbeing support, employers first need to understand their workforce’s needs.The way in which employers offer mental health assistance has changed, as interventions and services have become embedded in initiatives.More frequent chances for employees to speak about pressures they face can provide another approach to ...
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AnalysisEmbedding a joined-up savings approach
Credit: tadamichi/ShutterstockNeed to know:Employers are reporting more appetite among employees to save, especially for retirement, but encouraging a joined-up savings habit can still be challenging.Using payroll-based tools is becoming popular, but whatever products employers put in place need to be accompanied by ongoing financial education.Employee benefits professionals are key to ...
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AnalysisHow far can a reward and benefits strategy truly impact recruitment and retention?
Employers should identify issues affecting existing and potential employees when creating their reward and benefits strategies. Tailoring benefits to meet employees’ needs can attract talent and maintain retention levels. An organisation should regularly communicate its benefits to current and potential employees if it wants to promote ...