All Analysis articles – Page 10
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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 ...
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AnalysisWhy should employers consider employee ownership as their next business move?
Need to know:Transitioning to an employee ownership trust (EOT) transfers control of a business to employees, while also giving tax incentives to the shareholders.There is also the opportunity to deliver an annual bonus that comes under the tax-free allowance, which is currently £3,600 per employee per year.Trustee board meetings will ...
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AnalysisAre employers doing enough to address mens' mental health needs?
There is still a stigma associated with addressing mental health in the workplace, and moreso for male employees.Employers should encourage help-seeking through easy accessible means that can remain anonymous, for example, employee assistance programmes (EAPs) can be accessed remotely and confidentially by telephone and online.Providing access to the right tools ...
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AnalysisTop tips for supporting staff around early retirement
Four factors now typically determine when someone chooses to retire: their ability to fund their lifestyle without work; their appetite for a life without work; their inability to secure employment, and their health, with the latter two sometimes forcing their retirement.If employees choose to take a tax-free lump sum as ...
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AnalysisHow has the pandemic has affected employees’ physical health?
Need to know:Musculoskeletal problems, weight gain and long Covid are among the physical health issues affecting employees, with missed cancer diagnoses also causing concern.Encouraging healthy habits such as regular screen breaks, walking meetings and ‘fake commutes’ will help to replicate office working conditions and encourage more physical activity.Digital delivery of ...
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AnalysisWhat support can employers give to young adult carers in the workplace?
Need to know:Good communication and open dialogue with young carers is the most effective way of identifying the challenges they face.Offer benefits and support for their career progression and learning opportunities.Employers need to be aware of their legal responsibilities to staff caring for those with disabilities or who need time ...
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AnalysisHow can employers effectively communicate an employee value proposition?
Need to know:Employee value propositions can help organisations outline their purpose and culture.Essential communication is essential, including through new digital channels.Involving senior management and employees can also prove effective.With the 'great resignation’ well underway, employers are having to think more about how they can retain staff.For many, developing and communicating ...
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AnalysisTop tips for moving staff to a four-day working week
Nearly a third (31%) of UK workers are actively looking for a four-day work week in 2022 or have already agreed to one with their current employer, according to research published by productivity platform ClickUp in January.With fierce competition in the market for talent many employers have already obliged, with ...
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AnalysisHow to make the case for electric company car schemes
Need to know: Businesses are under pressure to cut carbon emissions, and employee vehicles are an obvious target. Salary sacrifice schemes mean this can save companies money, and make electric vehicles affordable for staff. Subscription models mean firms are no longer tied into long leases should ...
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AnalysisTop tips on how employers can reduce the gender pensions gap
Women need to be aware of the impact of career breaks and part-time working on their pensions, and how they may be able to mitigate the impact.Online ‘Mind the gap’ calculators, using video, animation and social media can help to promote relevant messages.Providing education on how pensions work and what ...
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AnalysisHow is ESG changing the future of employee benefits?
Need to know:Environmental, social and governance (ESG) issues are influencing employee benefit design through the emergence of new benefits and the repositioning of existing ones to highlight their ESG-related characteristics.The use of online apps that provide insight into how pension funds are invested help provide feedback to employers on what ...
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AnalysisHow will the future of work affect the wellbeing and engagement of employees?
Employers will need to ensure they are focusing on wellbeing and redefining the employee experience so that workers can thrive.The pandemic has shown that working models can change overnight, making it essential that employers tailor their wellbeing initiatives to their employees’ evolving needs.Organisation-wide corporate social responsibility (CSR) initiatives can offer ...