All Analysis articles – Page 4
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AnalysisAre employers truly optimising their diversity, equity and inclusion initiatives?
Need to know:Economic constraints, complexities and fears of a potential backlash have driven some organisations to put diversity, equity and inclusion (DE&I) on the back burner.Line managers have a key role in an organisation’s DE&I strategy but training and role redesign could increase their effectiveness.Benefits are a visible way to ...
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AnalysisWhat actions can employers take to close the gender pensions gap?
More employers could introduce gender inclusive paid parental leave to prevent and try to close gender pension gaps.The Pensions (Extension of Automatic-Enrolment) (No. 2) Bill will remove the lower earnings limit, enabling more employees to pay into a pension.In order to help close the pensions participation gap, more education on ...
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AnalysisHow to structure a total reward strategy
An employer's total reward strategy should be a combination of all the reward, benefits and development components that it offers to staff.Collecting employee feedback is key to structuring a total reward strategy and offering benefits that appeal to an entire workforce.There are multiple ways to communicate a strategy, such as ...
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AnalysisTop tips for managing the cost of company car schemes
Credit: muk woothimanop/ShutterstockNeed to know:Green electric vehicle (EV) salary sacrifice arrangements are growing in popularity.As well as tax savings, EVs can be cheaper to run and maintain, with used cars also a cost-effective option. Employees need to understand how benefit-in-kind (BIK) rates differ for both EV and internal combustion engine ...
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AnalysisHow to support employees' financial wellbeing on a budget
To support employees with their financial wellbeing, employers should review the benefits they already offer and check whether staff know how they can help.Implementing financial wellbeing services that include education and coaching is cost-effective.Financial wellbeing support can be tailored to match an employer’s budget and employees’ needs.Close Brothers Asset Management’s ...
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AnalysisWhat role does private medical insurance play in today’s benefits packages?
Need to know:Employers want to provide private medical insurance (PMI), even if it means reducing cover.More want to offer at least a measure of benefit to the whole workforce.Low-cost schemes with major exclusions are popular.Private medical insurance (PMI), which covers curable short-term medical conditions, has never been more popular in ...
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AnalysisPodcast: Kindness in the workplace
In this episode of the Employee Benefits podcast, in association with Lifestyle Business, Nick Dempsey, revenue director at Lifestyle Business, discusses the concept of kindness in the workplace.During the discussion with Employee Benefits' editor Debbie Lovewell-Tuck, Nick addresses the following questions:How would you define the concept of kindness in the ...
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AnalysisDoes crypto currency have a role to play in employers' pay strategies?
Need to know:Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professional services firms that support them.Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more ...
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AnalysisWhat does the government's pots-for-life plan mean for employers?
Credit: P Maxwell Photography/Shutterstock The pension pots-for-life plan takes the onus off of employees to keep track of their pensions as they move jobs. Clarification is needed on how employers would manage the process of putting employees’ contributions into many different pension pots. Pots for life ...
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AnalysisBenefits to support an older workforce
Employers could offer support through a midlife MOT, which provides a health and financial career check to help employees plan for retirement.Pre-retirement coaching can help to educate older employees on how to prepare for life away from work.Organisations can improve the recruitment, retention and development of older workers by signing ...
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AnalysisBuyer’s guide to corporate gym membership
What are corporate gym memberships?Employers can offer a corporate gym membership on an employee-paid or discounted basis, with many gyms offering membership deals to organisations. Through membership, staff can access a gym, health club, leisure or sports centre, or exercise classes as part of a voluntary or flexible benefits package.What ...
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AnalysisWhat role does AI play in reward and benefits?
Credit: Looker/Studio-ShutterstockNeed to know:Artificial intelligence (AI) is already starting to impact the world of benefits and reward, in areas such as benefits selection, administration and modelling potential strategies.Employees can also gain through personalised recommendations and support with questions.But concerns remain over data security and the lack of emotional intelligence in ...
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AnalysisWhat will employee motivation look like in 2024?
Credit: Artem Oleshko/ShutterstockNeed to know:Employee motivation strategies need to factor in cost-of-living pressures and the increasing need for personal development.Motivating people to return to the office must be carefully balanced with the motivational aspects of the flexibility of remote and hybrid working.As skill shortages continue, reskilling and upskilling staff, particularly ...
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AnalysisHow to support employees’ health and wellbeing in the winter months
Regular breaks during working hours can help to avoid burnout and boost employees’ physical wellbeing.Employers can support employees suffering from seasonal affective disorder by rearranging the workplace to maximise natural light or enable them to sit near a window.Organisations can implement discount schemes that save employees money on essentials to ...
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AnalysisHow to support employees with neurodiverse conditions
Some neurodiverse conditions can be considered a disability under the Equality Act 2010, so employers have a legal duty to make reasonable adjustments.Employers can put tools in place to holistically support neurodiverse employees’ mental wellbeing.Biases in performance evaluations or promotion should be removed as they are not conducive to a ...
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AnalysisHow can employers support employees’ mental wellbeing during the festive season?
Employers should be aware that the festive season does not mean the same thing to every employee.Creating a supportive, flexible work environment can help employees with increased stress and emotional challenges at this time of year.Providing employees experiencing loss and loneliness with opportunities to give back to the community can ...
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AnalysisDo total reward statements still engage employees with their benefits packages?
Credit: Julia Sudnitskaya / Shuuterstock.comA total reward statement provides an overview of an employment package and its value.Offering choice regarding how a total reward statement is delivered to an employee is key to ensuring effective engagement.A personalised benefits package can help to engage employees with their benefits because it is ...
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AnalysisTop tips for boosting employees’ pensions knowledge
Need to know:Employers can tailor content and communication channels to different employee groups to help with their pensions knowledge.Losing the jargon will make the language of pensions easier to understand and more relevant to staff.They could invest in financial coaching for a more personal approach to pensions education.Workplace pensions are ...
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AnalysisWhat support can employers offer for expatriate staff facing natural disasters?
Rescue helicopter/Jaromir Chalabala/ ShutterstockNeed to know:Pre-assignment risk assessments and briefings can help an expatriate employee feel as prepared as a local if a natural disaster happens.Security risk management firms can support employees with information and support if they are affected by a natural disaster.Employers should check what is included in ...
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AnalysisHow to ensure parental leave policies are inclusive
Employers should start by exploring what potential and current employees are looking for in an inclusive parental leave policy.The use of gender inclusive language in parental leave policies helps to avoid primary caregiver assumptions and ensures all employees feel included.Regularly reviewing policies and seeking employee feedback are also important actions ...