All Analysis articles – Page 52
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AnalysisWhat to consider when setting up a crisis management strategy
If you read nothing else, read this….Think location when drawing up emergency response plans. Getting an employee out of a war-torn African republic will require a very different approach to bringing them home from Europe.Ensure an employee assistance programme (EAP) has global capabilities. A UK EAP may be able to ...
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AnalysisWhat makes for a successful voluntary benefits scheme?
If you read nothing else, read this…Voluntary benefits can boost benefits professionals’ spending power. But the scheme must support key business objectives. Benefits take-up data should be monitored to assess employee appeal. Difficult economic times mean tough choices for organisations and, for many, adding voluntary benefits to enrich an existing ...
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AnalysisTop tips on how to choose an online benefits portal
If you read nothing else read this… Prior to selecting an online benefits portal, employers should look at the market options.They should also work to negotiate competitive deals with existing providers.Make a plan the portal should achieve before conducting a tender.Key aspects for employers to think about are accessibility and ...
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AnalysisHow much should employers segment workplace savings benefits for staff?
If you read nothing else, read this…Workplace savings can be segmented according to employees’ age, job function, gender, demographic and salary.New technology can be used to engage younger generations.Employers must ensure messages about workplace savings are relevant and communicated through appropriate channels. It is not uncommon for employers to have ...
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AnalysisBenefits to support sensitive health issues
If you read nothing else, read this…Support for staff with sensitive health problems include exercise, healthy eating and counselling.Staff have a right to confidentiality under the Human Rights Act 1998, and therefore in most cases do not have to disclose personal medical information to their employer. Eating disorders and mental ...
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AnalysisHow to build a compelling business case for benefits
If you read nothing else, read this…A business pitch should take an average of four to six weeks to create and present.A compelling pitch will clearly outline the objectives that a benefits professional hopes to fulfil with the benefit they are proposing to implement.The focus of the pitch should be ...
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AnalysisTop tips for managing grey fleet
If you read nothing else, read this…Employers thinking about grey fleet need to consider the implications of breaching the Corporate Manslaughter and Corporate Homicide Act 2007.All organisations running company car schemes require a clear grey fleet policy.Employers can help to reduce their grey fleet risk by removing financial incentives, such ...
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AnalysisThe evolution of group income protection
When group income protection came about in the 1970s in the form of ‘permanent health insurance’, employers would dust off their policy when someone had been off sick for five or six months. By then, entrenchment would have set in, there would be little expectation of a return to work ...
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AnalysisWhat does pension default fund jargon really mean?
If you read nothing else, read this…Terminology relating to pensions default investment can be complex and not always simple to understand.Key terms include lifestyling, tactical asset allocation, white labelling and decumulation phase.Understanding industry jargon can help benefits managers to explain key concepts to their workforce.Lifestyling This is an investment ...
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AnalysisHow to align international benefits with business objectives
If you read nothing else read this…Aligning an international benefits strategy with global business objectives can improve efficiency, administration and bring economies of scale.Carrying out regular country-by-country audits is a good idea, but many employers fail to do so.It may be helpful to bring in a consultancy with international experience.International ...
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AnalysisHow to support staff with musculoskeletal disorders
If you read nothing else, read this…Rapid diagnosis and treatment are ideal for tackling musculoskeletal disorders (MSDs).Education about health should encourage staff to make healthier choices.Exercise can be an effective tool to improve employee health and prevent or treat MSDs.Healthcare strategies should focus on the needs of the workforce while ...
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AnalysisMental health in numbers
A round-up of the latest facts and figures around stress and mental health.48% cite stress and mental ill-health as a main cause of employee absence (Group Risk Development: Group risk employer research, November 2014)56% find work very or fairly stressful (Mind, November 2014) 30% said they would not be able ...
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AnalysisRevamping a motivation strategy for the year ahead
If you read nothing else, read this…Recognition, career progression and flexibility are all highly valued by today’s employees.Empowering staff to succeed in their work while retaining a work-life balance is also gaining prominence.Some employers are looking to use new pensions rules to motivate and retain staff.Jackie Waller, principal reward consultant ...
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AnalysisWill the market be ready for the 2015 pension reforms?
If you read nothing else, read this…Pension providers are mulling the creation of new products to help staff access their pension savings.Eligible employees might have to wait up to two weeks to access their pension savings from April 2015.Employers, trustees and providers are now waiting for the reforms to receive ...
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AnalysisWhy employers are transforming specialist reward and pensions staff into benefits generalists
If you read nothing else, read this…Many employers are replacing benefits specialists with generalists.The shift from defined benefit to defined contribution pension schemes is a driving factor.Benefits professionals can broaden their knowledge base by attending conferences and networking with industry peers.Not only did the specialist fear the learning curve involved ...
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AnalysisHow could wearable technology change workplace health?
If you read nothing else, read this…Wearable technology can enable staff to measure their daily activity levels and pulse rates and manage their health risks.Wearable devices can capture vast amounts of biometric data. Concerns about data protection could hamper market growth. The list of wearable technology is long and growing. ...
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AnalysisFinancial education in numbers
52% of employers do not provide financial education for employees (Source: Secondsight, October 2014)55% of employers do not offer staff support at retirement (Source: Employee Benefits/Close Brothers Pensions research 2014, November 2014)43% of respondents say 90% or more of their employees are active pension scheme members (Source: Employee Benefits/Close ...
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AnalysisWhat does an effective financial education strategy look like?
If you read nothing else, read this… Employers must identify employees’ financial concerns.Financial education strategies should be based on employers’ existing benefits.Strategies must be ongoing to maintain their impact.The abolition of compulsory annuitisation for defined contribution (DC) pension scheme members could be challenging for employers that do not have any ...