All Analysis articles – Page 65
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AnalysisAuto-enrolment tips for smaller employers from larger firms
If you read nothing else, read this…Employers should be realistic about their auto-enrolment budget.Planning ahead can help avoid potential problems.Postponement can give smaller employers breathing space.More than half (55%) of employers that responded to Employee Benefits/Capita Pensions Research 2013 and have auto-enrolled their workforce recommend that smaller employers start planning ...
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AnalysisKey points about private medical insurance open referral
If you read nothing else, read this…Some insurers now offer the option to restrict consultant choice for claimants.Exact terms differ significantly between insurers.This approach can reduce costs and improve quality.But claimants unable to access consultants of their choice can be disappointed.Effective communication programmes are essential.Instead of claimants being able to ...
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AnalysisKey components of a 2013 travel policy
If you read nothing else, read this…Low-emission cars are increasingly popular in employers’ schemes.Journey planning can help employees use the most cost-efficient routes for their journeys.Fewer employers offer new recruits a fuel benefit.Green agendaLow-emission cars are an increasingly common feature of employers’ travel policies as they strive to reduce their ...
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Analysis
How to maximise tax efficiencies through flex
If you read nothing else, read this…Provider selection should be based on track record and benefit take-up support and not administration fee.Employers need to keep track of tax changes throughout the year.Employees need support and advice about how to make their flexible benefits as tax efficient as possible.Carefully select and ...
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AnalysisHow to refresh a flexible benefits scheme
If you read nothing else, read this …The annual enrolment date can be a good trigger for employers to review and refresh their flex offering.A scheme refresh can also be timed for relevant times of the year.Changing benefits structures or providers can be a challenge.Manesh Patel, senior flex consultant at ...
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Analysis
Severn Trent rejuvenates flexible benefits scheme
The utilities organisation launched a new online flex scheme with provider Edenred, but that did not improve matters, with take-up remaining around 30%, the same as it had been with the previous paper-based scheme.So the HR team set out to revamp the scheme. Its objectives included improving employee engagement by ...
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AnalysisFacts and figures on flexible benefits schemes
Employee Benefits has rounded up a range of facts, figures and case studies covering the provision of flexible benefits schemes over the past year, to highlight the issues and trends that are currently affecting employers and their workforces.- The Benefits Research 2013, which surveyed 561 HR and benefits professionals, was ...
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Analysis
Five key criteria to ask a flexible benefits provider
If you read nothing else, read this…Employers should ascertain whether a provider works alone or is supported by a third party to deliver the scheme.The provision of eight to 10 employee benefits is advisable in the first year of a scheme.Workplace benefits days can help employees to understand the perks ...
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AnalysisIs it feasible to globalise a flexible benefits scheme?
If you read nothing else, read this…A growing number of employers are interesting in globalising their flexible benefits schemes.Employers should start by identifying their objective in doing so.Challenges include the different tax and legal systems across the globe.The desire to streamline a flexible benefits offering is also a common motivator ...
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AnalysisShould flex communications be tailored to different generations?
If you read nothing else, read this …Employers should be aware of variations in attitudes and behaviours when tailoring flexible benefits communications to different employee groups.A comprehensive benefits strategy should use a variety of communication methods.Face-to-face remains a highly effective form of communication.Employers have their work cut out in deciding ...
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AnalysisHow to devise a Christmas incentives strategy
If you read nothing else, read this…Employers are becoming more comfortable about investing in Christmas incentive programmes.Many organisations have had to delay their plans because of unfinished workloads from the first half of the year.Retail vouchers, particularly for supermarkets, remain the most popular Christmas incentive.Reasons include a lack of resources, ...
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AnalysisIs it possible to implement a global health and wellbeing programme?
If you read nothing else, read this…Many health and wellbeing issues are common to all countries covered by a programme.The type and prevalence of medical treatments will vary from country to country.Interventions such as healthy eating and physical activity are relevant despite geographical location.Multinational employers should be aware of what ...
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AnalysisThe impact of social trends on flexible benefits plans
If you read nothing else, read this…Technological advances have driven a need for flexible benefits to be accessible by employees at any time and anywhere.Wealth management is a growing feature of flexible benefits plans because of the economic downturn and ageing workforces.Employers must be mindful of emerging socio-economic trends.Three key ...
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AnalysisHow employers can link benefits strategy to employees' needs
If you read nothing else, read this…Most employers do not ask their employees about their benefits needs.Employees often do not understand their own needs.Social media is a powerful tool with which to identify employees’ needs. Nick Throp, co-founder of Like Minds, says: “Employers tend to look at indicators like benefits ...
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Analysis
How popular are pension scheme guarantees?
If you read nothing else, read this…The government is seeking a pensions landscape that shares investment and outcome risk between employers and employees.Pension scheme guarantees are one proposed remedy.Critics are wary about reintroducing guarantees.But now the pensions industry consensus is that the pendulum has swung too far, and that employees ...
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Analysis
Five top tips for getting the most from a group risk provider
If you read nothing else, read this …It is important to check out the insurance extras offered by group risk providers.Employers should question providers about the group risk market and what additional benefits may be available to them.Industry changes, such as pensions auto-enrolment, can present an opportunity to review a ...
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Analysis
Quirky schemes to help employees save
If you read nothing else, read this…Employers are creating more innovative savings schemes for staff.Existing funds help employees to save for their first home, holidays and school fees.Successful take-up relies on a robust financial education programme.Life has never been more challenging for Generation Y. UK unemployment may have fallen by ...
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AnalysisHow to measure the impact of financial education programmes
If you read nothing else, read this:Ongoing development modules can help employers track the effectiveness of a financial education programme.Financial education can help to combat staff absenteeism and boost productivity.An employer must support a financial education programme to ensure its success.In its Rethink Retirement survey, published in December 2012, financial ...
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AnalysisTop tips for funding a company car fleet
If you read nothing else, read this…Funding a fleet is a complex task and it is worth employers seeking impartial expert advice.There is no best method for funding a fleet; it depends on the employer’s financial situation.Employers should look at funding holistically: how much will fuel and maintenance cost?The questions ...
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AnalysisWhat employers need to know about DC governance post auto-enrolment
If you read nothing else, read this …A good starting point from which to consider a high-quality, long-term DC pension is The Pensions Regulator’s Six principles for good workplace DC.Employers should consider setting up a governance committee to monitor the scheme.It is important for employers to keep track of opt-outs, ...