All Analysis articles – Page 70
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AnalysisMake occupational health fit for purpose
IF YOU READ NOTHING ELSE, READ THIS…Occupational health (OH) is becoming more of a holistic service aimed at improving general health and wellbeing.Good communication among all the benefit providers is important because early intervention will help employers manage risk and costs.Technology is playing a crucial role by telling employees what ...
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Analysis
Travel incentives inspire staff
IF YOU READ NOTHING ELSE, READ THIS…Travel incentives can help to engage and motivate employees.There are incentives to fit motivation budgets of any size.Rewards can range from cinema tickets to round-the-world trips for two.Exotic holidays occupy many an employee’s daydreams during the dreary winter months, but for some employers they ...
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AnalysisPensions provision around the globe
IF YOU READ NOTHING ELSE, READ THIS …Pension schemes across the globe are highly fragmented.Rising life expectancy is encouraging governments to provide pension schemes.More mature pension regimes are beginning to regulate the structure of default funds.Global pensions provision is highly fragmented. In western Europe, for example, people look largely to ...
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Analysis
Employers need diabetes-support strategy
IF YOU READ NOTHING ELSE, READ THIS…Five million people in the UK are expected to be diagnosed with diabetes by 2025.Diabetes can cause eyesight, circulation and kidney problems.Employers can support sufferers with benefi ts such as health awareness days and health risk assessments.Five million people in the UK are expected ...
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Analysis
Who regulates the pensions industry?
Pensions regulation is often criticised as being overly complicated and prescriptive, and arguably would benefit from higher-level regulations that give more initiative to trustees and scheme managers. Here, we present some of the regulatory bodies that employers should be aware of in pension matters.Department for Work and Pensions (DWP)The Department ...
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Analysis
Benefits on offer around the world
Local market knowledge can help employers to offer attractive and competitive benefits packages to recruit and retain employees.Many multinational employers are seeking more control over their global benefits, according to Aon Hewitt’s 2012 Corporate governance of employee benefits study, published in October, and 88% list employee benefits on their board ...
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AnalysisGlobal reward needs local balance
Economic growth and prosperity seem like a distant memory for most reward and benefits professionals, but less so for those with an international remit. While much of the world is still dealing with the economic downturn, international reward and benefits professionals with responsibility for growth regions are having to juggle ...
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AnalysisInternational PMI must follow local rules
IF YOU READ NOTHING ELSE, READ THIS…Local regulations may dictate what an international private medical insurance scheme must cover in some regions.International insurers may not be able to operate in some countries because of licensing rules, so must partner a local provider.The benefits that employees expect or require will vary ...
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AnalysisCheck health cash plans' small print
IF YOU READ NOTHING ELSE, READ THIS…Small print may restrict cash plan claims.Employers should read cash plan terms and conditions carefully before implementing a scheme.Employees need educating about the terms and conditions of their plan.Employers’ need for valuable employee benefits has never been greater, so it is important to ensure ...
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Analysis
Quirky requests for health cash plan cover
IF YOU READ NOTHING ELSE, READ THIS…Traditional health cash plans have come to include benefits such as aromatherapy massages, hypnotherapy and reflexology.Some cash plan providers have been asked to cover laser tattoo removals, breast augmentations and pet insurance.Quirkier requests are more often made by individual employees than by employers, and ...
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AnalysisWhat's on offer in the health cash plan market?
IF YOU READ NOTHING ELSE, READ THIS…Cash plan providers cover myriad benefits.Costs start from £1 per employee per week.Not-for-profit health cash plan providers dominate the market.Dental and optical are the most common benefits on which providers pay out.There has been an increase in corporate health cash plan subscribers.Health cash plans ...
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AnalysisHealth cash plans versus private medical insurance
IF YOU READ NOTHING ELSE, READ THIS…Health cash plans can be offered to employees for as little as £1 a week.Private medical insurance (PMI) is usually more expensive than a health cash plan.PMI and health cash plans can be run alongside each other.The health cash plan market has grown phenomenally ...
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AnalysisVoluntary benefits for parents pay off
IF YOU READ NOTHING ELSE, READ THIS…Providing family-friendly voluntary benefits helps to retain staff.Parental coaching is a growing trend among employers that are keen to retain their top talent.Childcare vouchers are a popular benefit to support working parents.Childcare has been identified as a key priority for the government over the ...
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AnalysisWhat is reward strategy?
Valuable insights can come from unexpected sources. For example, in Lewis Caroll’s Alice’s Adventures in Wonderland we have the following discussion between Alice and the Cheshire cat: Alice: ‘Would you tell me, please, which way I ought to go from here?’ The cat: ‘That depends a good deal on where ...
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AnalysisHR needs a mind for business
IF YOU READ NOTHING ELSE, READ THIS…There are many definitions of the term ‘commercial HR’.Commercially-minded HR professionals derive their HR strategies from their organisation’s business agenda.Non-HR experience can help HR professionals to develop a commercial edge to their abilities.The phrase ‘commercial HR’ is bandied about the industry as freely as ...
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AnalysisAuto-enrolment needs strong communications strategy
IFYOU READ NOTHING ELSE, READ THIS…Creative auto-enrolment communication strategies can educate first-time pension scheme members.A good communication strategy will relate to employees’ personal retirement goals.Key messages should be presented in a way that helps employees understand the consequences of their actionsPension scheme communications strategies have traditionally focused on the tax-efficient ...
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Analysis
DC pension default investments explained
IF YOU READ NOTHING ELSE, READ THIS…There is no single definition of a default fund.Investment strategy is as, if not more, important than asset allocation.Nest is expected to become a benchmark pension scheme, particularly on charges.A default investment option is the fund or funds into which employers automatically put employees ...
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Analysis
DC pension schemes can learn governance lessons from DB
IF YOU READ NOTHNG ELSE, READ THIS…A committee should be at the heart of a robust pensions governance structure.Governance committees should consider appropriate investment fund options and default strategies.Scheme members should be given clear and relevant communications.The defined contribution (DC) pension plan has become the scheme of choice for many ...
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AnalysisSalary sacrifice car schemes explained
IF YOU READ NOTHING ELSE, READ THIS…Salary sacrifice company car schemes may not be suitable for every employer.The most common barrier to introducing a scheme is lack of understanding about cost and implementation.Employers should engage a qualified tax adviser to ensure deductions from salary are dealt with properly.Salary sacrifice company ...
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Analysis
Benefits help staff to fulfil new year's resolutions
IF YOU READ NOTHING ELSE, READ THIS…Promoting benefits such as discounted gym membership can help employees achieve their resolution goals.Online health assessments can help break down resolutions into manageable aims.Wide-ranging communication strategies will help optimise employee engagement.Most people have given up on their New Year’s resolutions by mid-January. But all ...