All Analysis articles – Page 67
-
AnalysisAuto-enrolment prompts employers to review their benefits offering
If you read nothing else, read this…Most staff are remaining in pension plans once they have been auto-enrolled.Many employers are using the opportunity to promote their wider benefits package.There is some evidence of employers accompanying auto-enrolment with financial awareness sessions.Employers are not cutting other perks to cover auto-enrolment costs, but ...
-
Analysis
Critical illness insurance is in demand
If you read nothing else, read this:Take-up of group critical illness insurance has been increasing steadily.If the cover is below £250,000, there is no medical underwriting, reducing administration costs.Flexible arrangements may be the best way to offer critical illness cover.The take-up of most group risk benefits has stuttered during the ...
-
AnalysisUpdate on company car tax rules
If you read nothing else read, this… Employers must take into account all the tax and other legislation that applies to company car schemes.Employees are liable to pay tax according to the carbon dioxide (CO2) emissions of the company car they use..Lower-emission cars fall into a lower tax bracket.According to ...
-
AnalysisHow to choose the best default fund
If you read nothing else, read this:Tailoring default funds to the scheme membership is not just about offering ethical and shariah options.Default funds should be designed with the specific nature of the workforce in mind, because employees of different ages and salaries will have very different needs.Almost all new pension ...
-
Analysis
Employee Benefits Summit 2013 speaker slides
Restoring Confidence in PensionsStephen Gay, Director of Life, Savings and Protection, Association of British InsurersSLIDES NOT AVAILABLEPanel: The Future of Executive Pay and BonusesDeborah Hargreaves, Director, High Pay CentreRoger Barker, Director of Corporate Governance and Professional Standards, Institute of DirectorsClaire Morland, Former Head of Compensation, Man GroupNO SLIDESHow Can Engagement ...
-
AnalysisTop tips for communicating flexible benefits
IF YOU READ NOTHING ELSE, READ THIS…Targeted communication is vital to the success of a flexible benefits scheme.Employers can optimise employee engagement by using a range of media to communicate the flex scheme to their workforce.Flex scheme communications should be kept updated to keep staff reminded of the scheme’s existence.Employers ...
-
AnalysisHow employers should manage workplace stress
IF YOU READ NOTHING ELSE, READ THIS…Employers should play a proactive role in managing stress in the workplace.Line managers can play an important part in stress management, but they must be given suitable training.Employers should encourage staff to take responsibility for their own physical and mental wellbeing.There are countless legal ...
-
Analysis
Interview with Jane Fenwick, associate director of total rewards at Shire Pharmaceuticals
When Fenwick decided to join the world of work at the age of 18, she was unsure exactly what her vocational leanings might be.“I had strong academic results, but I didn’t like living in the theoretical world,” she says. “I felt I would be better served going down an employment ...
-
AnalysisMotivation schemes can build long-term engagement
IF YOU READ NOTHING ELSE, READ THIS…Motivation schemes can boost productivity and employee engagement.Non-monetary schemes are better at promoting sustainable long-term motivation among employees.Monetary schemes still have a place in motivation, but their scope is limited.Employers can take advantage of social media to create engagement and motivate their employees.Employees that ...
-
AnalysisKey issues for employers post auto-enrolment staging
IF YOU READ NOTHING ELSE, READ THIS…Post auto-enrolment staging date, employers must keep on top of a number of tasks to remain compliant.Having robust record-keeping and data processes in place is key.Employers must ensure they send relevant communications to their workforce at the required times.Preparing for auto-enrolment may feel like ...
-
AnalysisHow transparent are benefits charging structures?
IF YOU READ NOTHING ELSE, READ THIS…Historically, commission-based and consultancy charges in the pensions market led to a lack of transparency in what employers were paying for.Now that both have been banned, with the exception of legacy commission schemes, the pensions market has moved towards a more transparent fees-based model.Adviser ...
-
AnalysisHymans Robertson offers staff flexibility in saving
Because employee benefits are at the heart of its business, Hymans Robertson recognises the importance of giving its staff access to workplace savings schemes that will engage them and suit different lifestyle needs.The pensions and benefits consultancy invites all employees to join a group personal pension (GPP) plan and a ...
-
AnalysisThe pros and cons of using lifestyle investment strategies for pension funds
IF YOU READ NOTHING ELSE, READ THIS…Lifestyle strategies progressively switch pension scheme members into bonds as they approach retirement.Although lifestyle options have done well over the past decade, this has been a consequence of rising bond markets.Providers have been devising diversified funds that are actively and tactically managed so members ...
-
AnalysisWhy share schemes remain a valuable employee benefit
IF YOU READ NOTHING ELSE, READ THIS…Hundreds of thousands of employees continue to save through share plans despite the economic downturn.YouTube videos are a new way for employers to engage employees with their share plans.Employers need to help employees to think like shareholders.The possible windfall awaiting savers on maturity of ...
-
AnalysisRewards grow for offshore workers
IF YOU READ NOTHING ELSE, READ THIS…Offshore workers are often employed by agencies, so do not necessarily receive the same traditional benefits as permanent workers.Offshore workers are often exempt from the Working Time Directive regulations and usually work a rota of 14-28 days on and 14-28 days off.The average salary ...
-
Analysis
The pros and cons of using multiple pension plans for auto-enrolment
IF YOU READ NOTHING ELSE, READ THIS…Using multiple pension schemes will not suit all employers.Running multiple schemes can be confusing and may increase communication costs.Communication strategies must clearly differentiate the benefits of each scheme.The Pensions Regulator (TPR) requires all workplace pension schemes to meet its qualifying criteria for auto-enrolment. A ...
-
AnalysisDental benefits prove their worth
IF YOU READ NOTHING ELSE, READ THIS…Health cash plans and dental insurance will cover treatment by both NHS and private dentists up to an agreed limit.The treatments covered by dental plans have expanded to include dental accidents and dental cancers.The cost of private dental treatment can vary throughout the country ...
-
AnalysisHow to manage legacy employee benefits strategies
IF YOU READ NOTHING ELSE, READ THIS…New recruits must resist the temptation to start their new role with an overhaul of their predecessor’s strategies.Some organisations may simply require an HR professional to maintain current standards.Speaking the same, finance-based language as their new executive board is a key skill for all ...
-
Analysis
Is mobile technology suitable for share schemes?
IF YOU READ NOTHING ELSE, READ THIS…Employers are moving away from paper-based share plan applications.Share plan communications technology should be tailored to each employer.Mobile applications are gaining popularity.Perhaps the most tech-savvy tool to use is mobile technology, which enables staff to sign up to share schemes using SMS text messaging ...
-
AnalysisGroup personal pensions in a master trust world
IF YOU READ NOTHING ELSE, READ THIS…Master trusts have a governance advantage over group personal pensions (GPPs) in terms of investment monitoring, default funds and annuitisation.They can also offer significant economies of scale and are cheaper than most GPPs.However, not all master trusts will survive the current demanding and low-margin ...