All Analysis articles – Page 10
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AnalysisHow can benefits help first-time buyers as property prices surge?
Employers can work with providers to offer financial education in the form of specific content guides, downloads, webinars, helplines, tools and modellers, including budgeting, mortgage affordability, mortgage rate calculators, and stamp duty calculators.One option employers can offer to help first time buyers is the lifetime individual savings accounts (Lisa), through ...
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AnalysisMaking the most of employer accreditations
Need to know:Accreditations are proof of the positive work being done by organisations, as well as a long-term commitment to change.The process can be complex, with different challenges depending on the type and the employer, but an accreditation team should be on hand to help.Without a deeper commitment, reaching for ...
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AnalysisTop tips for offering HRT support in the workplace
One of the first steps to consider is to set up a dedicated menopause policy, ensuring it links in to any existing wellbeing, and equality, diversity and inclusion policies.Employers should also ensure that websites and resources around types of HRT are up to date, offer links to information about HRT ...
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AnalysisHow to build a hybrid-working model that is right for an organisation
Need to know:Hybrid-working arrangements have become the norm; employees now favour organisations that offer it over those that do not.Creating a sense of fairness around flexible working is a challenge for employers, especially for those whose staff are not able to work remotely at all.Employers are now focusing on creating ...
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AnalysisCan employees remain engaged with retirement saving while costs of living rise?
Need to know:The cost-of-living crisis may result in employees disengaging with pension saving.But the chances are employer pension communications may not be up to scratch.Delivering clear messages at the appropriate time will pay dividends in securing financial wellbeing and HR operational efficiency.Retirement savings is a bit like cleaning out gutters ...
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AnalysisWhat really motivates an employee to stay with an employer?
Need to know:With the Great Resignation underway, organisations are working out what really makes staff join and stay with a business.Flexibility, wellbeing and work-life balance are all highly prized by employees.A wider sense of organisational values and the ability to develop are also attractive.The emergence of the Great Resignation in ...
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AnalysisHow can employers engage staff in responsible pensions investment?
Need to know: While the idea of providing ethical and sustainable investment options has gathered popularity, the take up of these pension investments is still relatively low.Embedding environmental, social and governance (ESG) factors into default funds can be complicated, as it introduces additional risks and can distract from focusing on ...
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AnalysisThe changing face of flexible benefits
Need to know:Technology is key to offering a flexible benefits scheme that confers greater autonomy on employees to select, change, and manage their benefits.Cash pots are becoming an important element of the flex offering due to their personalisation power, as employees increasingly expect a tailored approach.With benefits budgets under pressure, ...
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AnalysisHow are cost-of-living increases affecting employee health?
Need to know:Money worries can affect employees’ physical and mental health and wellbeing, with research finding that financial concerns are leading to anxiety, sleep problems and cancelled gym memberships.Training line managers and promoting an organisation's employee assistance programme (EAP) can help employees access support for financial and mental health issues ...
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AnalysisHow can employers prioritise a more tailored reward strategy?
Employers must be able to offer a differentiated and competitive reward package in order to retain and attract staff.Through a comprehensive reward package, employers can offer a range of services to assist with various obstacles staff are facing.Building an element of choice into reward policies can be impactful and value-adding ...
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AnalysisWhat does the group risk market look like post-pandemic?
Need to know:The pandemic has focused minds on health and wellbeing, and fuelled growing interest in group risk products.Employers are looking to extend cover to wider cohorts of employees.Long Covid and the surrounding mental health and wellbeing challenges mean group risk products are becoming increasingly important.To maximise these products, communication ...
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AnalysisBenefits to support bereavement
It is crucial that employers communicate to staff where and how grief support can be accessed.A bereavement leave policy should provide both line managers and employees with guidance and reassurance of what to expect if they experience one.A group income protection policy can provide emotional and wellbeing support when staff ...
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AnalysisWhat impact is the war in Ukraine having on benefits strategies?
Employee support during the war in Ukraine might include evacuating staff and providing flexible, practical support for those directly affected.Organisations should also remember the importance of mental health support for all employees, including senior managers.In addition to day-to-day considerations, businesses should understand the wider ramifications of world events on other ...
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AnalysisHow is technology changing the delivery of employee benefits on a global scale?
Although there are some universals, benefits are often subject to local cultural, tax and regulatory differences, which multinational organisations must then try to align with a global strategy.Digital channels can be used to create effective communication around what benefits are available in each location, as well as easing access and ...
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AnalysisAdapting pay strategies to cope with the cost-of-living crisis
Need to know:Sweeping pay rises may not be achievable for many employers, but spot bonuses can help staff without as heavy an impact on yearly budgets.Financial wellbeing and flexible pay tools can help employees gain greater flexibility and control over their money.Effective communication of the benefits available to staff, as ...
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AnalysisAre master trusts the future of pensions?
Need to know:Master trusts offer a cost-effective solution that harnesses economies of scale and relieves employers of a growing regulatory burden around pensions.Many are using technology to forge ahead with developments such as open banking, and flexible drawdown.Value-added services can help employees build financial resilience in the short-term, as well ...
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AnalysisHow can employers improve support policies for IVF?
In vitro fertilisation (IVF) support should arguably begin before any employee knows they need it, by ensuring everyone is aware of the policies and processes in their organisation.Those accessing fertility treatment in the UK through a fertility clinic will receive counselling with a British Infertility Counselling Association counsellor, which is ...
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Analysis
Rebecca Berry and Sarah Taylor: employers face a balancing act on ‘living with’ Covid
The change in emphasis of the government’s ‘Living with Covid’ guidance raises many questions for employers. These include:What does the lifting of the legal requirement to self-isolate for those who test positive for Covid -19 (Coronavirus) mean for employers?How should employers implement the guidance that those who test positive for ...
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AnalysisHow financial education can help employees make their money go further
Employers may want to consider giving employees practical help that includes debt management, budgeting and top tips for saving on everyday spending.Educating employees with basic skills like budgeting and saving for a deposit for a first home can also provide help in other areas of life.Other benefits like discounted shopping ...
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AnalysisWhat role does a reward strategy hold in a battle for talent?
Need to know:Benefits such as financial education, salary sacrifice, health cash plans and discount platforms can help to support employees during the cost of living squeeze.Higher inflation may help address existing pay inequalities but organisations must also guard against creating new ones with jobseekers demanding higher starting salaries.Paying attention to ...