All Analysis articles – Page 13
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AnalysisWhat trends are currently impacting on workplace pensions?
Need to know:Workplace pension schemes are facing huge amounts of change in the coming months.Employers, trustees and administrators have to be aware of the new reporting requirements on climate change.Preparing for the pensions dashboards will see schemes having to supply data in line with a 2023 deadline.Pension managers, trustees and ...
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AnalysisCan volunteering days and CSR initiatives have a positive impact on employee wellbeing?
Need to know:Employers have recognised they need to be responding to the enhanced sense of community engagement that has come out of the pandemic, and so interest in implementing volunteering policies and supporting volunteering has been increasing.The mass shift to home working last year, however, meant many conventional face-to-face or ...
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AnalysisHow has the hybrid working trend impacted benefit and reward strategies?
Need to know:The future of work is likely to be made up of a mix of office and home working.This is having an impact on what benefits employers offer.How employers communicate with staff will also need to change in a hybrid model.The potential for most employees to work from home ...
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AnalysisIs cash still king when it comes to motivating modern workforces?
Need to know:Assuming that an employee is fairly paid and has adequate income to fund their lifestyle, a pay rise or bonus is unlikely to make a significant impact on their performance.A good long-term strategy for boosting employee productivity as opposed to cash incentives is clear communication and strong management.Employees ...
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AnalysisHow can share schemes help employees build financial resilience?
Need to know:Employee share schemes can be successful savings vehicles for staff.Take-up of share schemes depends in part on how well they are promoted; the current trend is to make communication as tailored as possible.Involving staff in pushing schemes and showing previous outcomes can be effective.The research, A stake in ...
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AnalysisHow can Covid-19 benefits survive and thrive in the long term?
Need to know:Benefits have evolved during the pandemic, with the initial care packages morphing into more structured benefits propositions. But what will we keep and what will fade away?For the employers that can offer it, flexible working is here to stay. The genie’s out the bottle and employers should realise ...
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AnalysisHow can employers ensure the mental health of male staff is fully supported?
Need to know:Only around a third of referrals to NHS talking therapies are for men but three times as many men as women die by suicide.Promoting low stigma access points, such as debt advice and legal services, will encourage more male employees to use the EAP.Male role models, whether as ...
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AnalysisHow can employers promote the value of their online benefits schemes?
Need to know:There should be seamless integration between discounts schemes and online benefits platforms such that additional usernames and passwords are not required.Employers should make sure that the benefits, HR and internal communications teams are on the same page by ensuring all stakeholders know how to direct employees to the ...
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AnalysisHow can employers raise awareness of the pensions freedoms among workforces?
Need to know:The pension freedoms have left many employees aged over 55 bewildered and unprepared.Employers can get their pension providers to do nudge campaigns and offer webinars.They should point all over 50s to the free government guidance service Pension Wise.When it comes to workplace pensions, many employees are floundering, particularly ...
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AnalysisTop tips for being a trailblazer of family-friendly benefits
Need To KnowFlexibility around where and when employees can work is one of the most highly-valued family-friendly benefits.Supporting employees who are also carers should include access to support programmes that help them find and fund the most suitable family-based care services.Group life and income protection benefits provide more than financial ...
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AnalysisHow on-demand communications can boost engagement with benefits
Need to know:News and information about benefits sent out just via emails can easily get lost in the swathes of them employees receive each day, and potentially never read.The most effective and immediate communication method for reaching remote and office-based employees is mobile, with push notifications via apps able to ...
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AnalysisHow can total reward packages motivate employees post furlough?
Need to know:One way to motivate employees after being on furlough is for employers to simply ask them what they need or want and to tailor the rewards package to this.There is an understanding that communication around rewards packages needs to be clear, and this needs to be underpinned by ...
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AnalysisTop tips on implementing electric company car schemes
Need to know: Electric vehicles are now a realistic option for company fleets, either as an employee benefit or through salary sacrifice arrangements. Favourable benefit-in-kind rates are making this more attractive compared to petrol or diesel options. But some concerns remain around charging infrastructure and battery ...
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AnalysisHow can flexible working hours address employee burnout?
Need to know:Communication is of high importance to find out what has and has not worked for employees in terms of flexible working.It is imperative to set clear expectations and principles of flexible working so that employees understand where the flexibility lies.It is just as important to provide training and ...
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AnalysisHave employers placed wellbeing at the centre of their company culture?
Need to know:By changing working practices and bringing employee wellbeing into sharp focus, the pandemic is forcing employers to adapt their benefits strategies.Working from home during the pandemic has increased the importance of the work-life balance, with employers offering greater flexibility to support this.Wellbeing is about more than benefit spend ...
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AnalysisHow can employers encourage women to save more into their pensions?
Need to know:The disparity in pensions between the sexes remains huge, with the median pension wealth of women coming up to retirement standing at just one-third of men’s.A clean way to help remedy this is to extend workplace schemes to all employees, including those earning under the £10,000 mandated by ...
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AnalysisHow the changing shape of pay can support employees’ financial wellbeing
Need to know:The pandemic has spurred many employers to reassess not just what they can pay their employees but how pay can be delivered more flexibly, with growing interest in innovations such as affordable loans, salary advance and access to earned pay.There is recognition, however, this needs to be underpinned ...
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AnalysisCould an economic pick-up lead to a new benefits approach that retains and engages staff?
Need to know:The UK economy is growing strongly, causing concern about staff retention.Benefits around company culture, flexible working, health and choice are likely to be in demand.There are some quick wins that could help make an immediate impact.News that the UK economy grew by a stronger-than-expected 2.1% in March, coupled ...
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AnalysisWhat makes a resilient workplace culture thrive?
Need to know:Employers should lead from the top with consistent messages and strategies.They can conduct reviews and invest in resilience-building training.Employee assistance programmes (EAPs) and mental health and wellbeing support should be regularly promoted.If there was ever a year to collectively test our resilience, 2020 was it. Absence management provider ...
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AnalysisProactive steps to help employees strengthen their mental wellbeing
Need to know:Mental health support is high on the agenda post pandemic, both for those still home working and those gradually coming back to physical workplaces.When assessing what’s going to work best, it is important first to review what you currently offer, as there may be effective tools or services ...