All Analysis articles – Page 109
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Analysis
Rely on pensions guidance for good governance
Guidance issued by the Pensions Regulator on Voluntary employer engagement in workplace contract-based defined contribution (DC) pension schemes in January has thrown the spotlight on best practice for defined contribution (DC) plans. While there is no obligation to follow the regulator's guidance - and indeed many employers have chosen DC ...
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Analysis
Cash or non-cash staff rewards
A number of factors will determine whether cash or non-cash rewards best suit a workforce, says Nicola SullivanThe large cash bonuses given to workers such as investment bankers and City traders often make headline news. The attention these receive can create the impression that cash reward is the ultimate form ...
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Analysis
Soften the blow of pension changes
We are in the eye of the storm when it comes to employers making changes to pension benefits, but there are measures they can take to help soften any blows for staff.One vital lesson is the importance of communication. Often, for example, the introduction of a DC scheme in place ...
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Analysis
Plan on building better level of pensions understanding
Employees can misunderstand most benefits without wrecking their lives. If they misunderstand their pensions, however, they could face a bleak old age, subsisting of cold baked beans and with added concern about paying electricity bills.Employers that offer defined benefit (DB) schemes, therefore, should make providing clear and accurate pension communication ...
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Analysis
Benefits in the oil and gas sector
Despite oil prices hovering at an all-time high, the oil and gas sector is facing a talent shortage which it is looking to perks to solve, says Jenny KeefeImagine outer space. A huge asteroid comes into view. Craggy, menacing, and bigger than Texas; it’s on a collision course for Earth. ...
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Analysis
Running an international benefits strategy
Globalisation is making international organisations take a much broader approach to how their businesses are run. But while this can result in greater consistency as well as cost savings, when it comes to implementing employee benefits, there can be some serious downsides.On paper, the concept of an international benefits strategy ...
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Analysis
Employer relationships with unions can reduce risk of industrial action
Anyone who has ever been caught up in the midst of a transport strike will know how disruptive industrial action can be. Yet, many workers believe they are only able to get their point across by taking such steps. In the last few months, London Underground staff, for example, have ...
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Analysis
Reduce long term staff absence rates
Absence is often thought to make the heart grow fonder. For employers counting the financial cost of a valued employee's long-term absence, this will almost certainly be true. Most will be keen to help individuals return to work quickly, as the longer they are away, the longer it is likely ...
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Analysis
Pressure on employers to review green fleet options
As pressure mounts on employers to crack down on environmentally-unfriendly vehicles, there are a number of models and alternative fuel sources on the market they should consider, says Nicola SullivanAs the government cracks down on gas-guzzling cars, employers are faced with boosting the green credentials of their fleet. The pressure ...
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Analysis
Greater onus on employers to look after staff needs
In the early 19th century, entrepreneur Robert Owen inherited a large mill in New Lanark, Scotland. The factory and surrounding area was overpopulated by thousands of workers from the slums and workhouses of nearby Glasgow and Edinburgh, so Owen, finding the conditions to be unacceptable, took the radical step of ...
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Analysis
Managers' reward
Motivating managers can be a crucial factor in boosting staff engagement, says Victoria FurnessEmployee engagement might sound as if it is all about employees but, in reality, it is more of an issue for managers, given their profound influence on staff engagement levels.A belief that senior management is sincerely interested ...
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Analysis
Group SIPPS growing in popularity
Nic Paton looks at group self-invested personal pensions eight years after the product's launch to gauge current market conditions and assess whether their popularity has grown as first expectedI t has taken eight years since the launch of group self-invested personal pensions (Sipps), when they were then being billed as ...
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Analysis
Make flexible working a success
Employers should assess flexible working carefully to balance possible returns with managing potential risks and staff expectations, says Alison ColemanThe ability to work flexibly can be highly attractive to staff, as many face increasing demands on their time. Although the scope of employees eligible to request flexible working increased last ...
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Analysis
The impact of the credit crunch on reward
The credit crunch and economic slowdown is prompting many employers to keep a close eye on spending, so Jenny Keefe looks at the impact on rewardA mid stock market turmoil triggered Employers should assess flexible working carefully to balance possible returns with managing potential risks and staff expectations, says Alison ...
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Analysis
Dame Carol Blacks review lacks substance
Practitioners declare Dame Carol Black's review of workplace health and wellbeing lacks substanceDame Carol Black's Review of the health of Britain's working age population: Working for a better tomorrow has met with a lukewarm reception.The report highlights the need for employers to invest further in the wellbeing of their staff ...
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Analysis
Secure the best deals for voluntary benefits
Whether a voluntary benefits plan is run in-house or outsourced, there are a number of tips employers can use to secure the best deals, says Peta HodgeBy its very nature, a voluntary benefits scheme that is set up and managed by an employer in-house, rather than by a third-party provider, ...
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Analysis
Benefits in New Zealand
New Zealand operates a pensions system with auto-enrolment and compulsion similar to that planned in the UK, while lifestyle perks aiding work-life balance are also commonplace, says Alison ColemanDespite the differences in climate, accent and lifestyle, New Zealand and the UK may have more in common than most people think, ...
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Analysis
Advantages of promoting dental perks
The lack of NHS dentists is driving the provision of dental health perks, and employers will find there are advantages in promoting these to staff, but they must be careful not to oversell, says Sally HamiltonEmployers that offer dental perks to their workforce will undoubtedly find it pays to remind ...
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Analysis
Modelling tools help staff to understand perks
Modelling tools can help staff understand their benefits and encourage them to act on money matters, but they will require additional support, says Sonia SpeedyBoosting employee interest in their personal finances and workplace perks can seem like a Herculean task. But increasingly sophisticated modelling tools are helping to ease this ...
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Analysis
Focus on delivery as much as cost in delivering financial education
When planning a financial education programme, employers must base their decisions on more than cost, and also look at how best to deliver information to staff, says Kirstie RedfordWhile a lack of financial know-how among employees can often result in a failure to fully appreciate the value of the benefits ...