All Analysis articles – Page 7
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AnalysisDo employers have a role to play in overcoming the UK childcare crisis?
Employers can offer onsite nurseries, workplace nursery schemes, and subsidised and emergency care provisions to help with childcare.There are a variety of different flexible working options that employers could offer those who are struggling.Support for working parents can help with attraction, retention, skills shortages and diversity, equity and inclusion efforts.The ...
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AnalysisHow to keep employees happy on minimum pay rates
Credit: M2K7/ShutterstockNeed to know:When budgets are under pressure, organisations need to strike the right balance between pay, benefits and other factors such as working conditions and wellbeing.Benefits such as discount schemes, health cash plans and financial education can help employees make their money go further.Communication is key, helping organisations understand ...
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AnalysisWhat do employers need to know about the pensions lifetime allowance abolition?
Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it. Employers will need ...
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AnalysisHow to introduce an employee recognition scheme
Initially, employers should identify what they want a recognition scheme to achieve.Employers can offer employees public verbal recognition, awards, bonuses, vouchers, stipends and spending accounts.Understanding employees’ preferences and needs, as well as the demographics of a workforce, can help with scheme engagement.Gallup’s September 2023 Empowering workplace culture through recognition study, ...
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AnalysisBuyer’s guide to fertility benefits
Credit: bezikus/ShutterstockWhat are fertility benefits?Fertility benefits are wide-ranging and include comprehensive support and treatment for individuals. The benefits cover the key areas of medicines, procedures and assisted conception, such as in vitro fertilisation (IVF) and intracytoplasmic sperm injection (ICSI).Employers use the services of providers to offer fertility and parenthood-planning care ...
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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 ...
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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 ...
