All Analysis articles – Page 72
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AnalysisEmployee ownership can boost engagement
IF YOU READ NOTHING ELSE, READ THIS…Deputy prime minister Nick Clegg wants more employees to have a stake in their employer.Staff at employee-owned organisations are more engaged in the workplace and more committed to their employer.Employee-owned organisations typically experience lower rates of absenteeism and staff turnover.Employee ownership has been a ...
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AnalysisMotivation schemes on a limited budget
IF YOU READ NOTHING ELSE, READ THIS…A well-planned employee motivation programme can be cheaper and more effective than a small pay rise or bonus.A motivation programme can help to drive employee behaviour to support a revised business strategy.Publicising employee awards increases recognition among the workforce.It is not always easy to ...
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AnalysisWorkforce segmentation helps target motivation benefits
IF YOU READ NOTHING ELSE, READ THIS …Avoid trying to shoehorn benefits to fit employee segments.Do not assume that people of the same demographic segment will want the same things.Employers should be creative in the way they communicate key messages about benefits to staffSupermarket giants know every aspect of their ...
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AnalysisEmergency childcare can pay off
IF YOU READ NOTHING ELSE, READ THIS…There is no legal obligation for employers to provide emergency childcare to employees.A range of emergency childcare options is available to parents in the workplace, but their suitability depends on the employer’s budgets and the employees’ needs.One of the biggest benefits of operating a ...
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Analysis
Call for clarity on pension scheme charges
IF YOU READ NOTHING ELSE, READ THIS…The average annual management charge (AMC) on pensions is less than 1%, according to the Department for Work and Pensions.The Association of British Insurers is calling for greater transparency around pension scheme charges.The National Association of Pension Funds plans to publish an industry code ...
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Analysis
How to prepare staff for the transition to retirement
IF YOU READ NOTHING ELSE, READ THIS….The number of workers over the state pension age is increasing.Early discussions about retirement will enable employees to be better prepared when the time comes.Age discrimination rules mean communicating with staff about retirement must be done with care.Ensuring staff get the right annuity product ...
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AnalysisAlternative savings vehicles are appealing to staff
IF YOU READ NOTHING ELSE, READ THIS…Corporate Isas are a more attractive savings option than pensions for younger employees.Sharesave schemes offer a ‘no-lose’ option for employees to make sure of a savings windfall in a few years’ time.Alternative savings schemes can be co-ordinated by placing them on a corporate platform.Ask ...
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Analysis
The difference between active and passive investments
IF YOU READ NOTHING ELSE, READ THIS…Passive and active management are simple concepts to understand. Don’t be afraid of the language.Most defined contribution (DC) default funds will be passive arrangements to offer low-cost access to investment markets.Active management can provide higher returns but is not typically used in defaults because ...
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Analysis
BT Group educates staff about retirement options
The desire to educate employees about their retirement options was one of the key drivers behind BT Group’s decision to launch a pre-retirement programme for its older workers three years ago.Dennis Gissing, head of diversity practice at BT, says: “We perceived this to be a gap in what we were ...
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AnalysisTop tips on total reward statements
If you read nothing else, read this…Employers must be sure of their reasons for using total reward statements (TRS) and how they should be sent out.Statements can be tailored to groups of employees or individuals.Any errors in a statement can undermine an employer’s hard work.Pay rises are few and far ...
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AnalysisFleet reviews should focus on efficiency
If you read nothing else, read this…Consult key stakeholders, such as HR, finance, procurement and employees, to gain a better understanding of the organisation’s fleet requirements.Set realistic timescales for the review, leaving it at least six or nine months before making changes to the fleet policy.Consider funding methods, such as ...
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AnalysisTop makes and models of company cars
If you read nothing else, read this…Vauxhall, Audi, Ford and Volkswagen are among the most popular company car brands.Smaller-engined, lower CO2-emitting cars tend to be more popular for salary sacrifice-based schemes.Employers should be proactive in communicating with their workforce about their priorities.Website functionality is critical, rather than the lowest price, ...
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AnalysisAlternative ways to provide company cars
If you read nothing else, read this…The number of staff paying benefit-in kind tax on cars has fallen as employers change their approach to fleet.Alternatives to company cars include: car sharing, car pools, employee car ownership, cash allowance and grey fleet.Fleet arrangements should be selected according to how well they ...
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AnalysisDisclosure of staff health information
If you read nothing else, read this …Most FTSE companies disclose information about the health and wellbeing of their employees.But disclosures tend to be inconsistent across organisations in terms of volume, content and format.Greater disclosures about workplace health can help investors understand any potential risks to organisations in which they ...
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Analysis
Wellness days boost health perks
Wellness days in the workplace can be used to communicate and highlight health and wellbeing benefits offered as part of a formal employer-paid package or as flexible or voluntary benefits.Justin Crossland, senior consultant at Towers Watson, says: “These events make employees more aware of health benefi ts and promote a ...
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Analysis
Health benefits on a limited budget
If you read nothing else, read this …Find out what employees think would improve their working environment.Use free services offered by charities or the NHS to improve employee health.Make time for employees to take exercise or other classes during the working day.Involve senior management in promoting health and wellbeing strategies.Turbulent ...
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Analysis
Expert tips on surviving pensions auto-enrolment
If you read nothing else, read this…The first organisations to reach their staging date for auto-enrolment have had to make both expected and unexpected changes to their systems.Planning for auto-enrolment should begin well in advance to allow time to tackle any issues that may arise.Communicating with staff about changes is ...
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AnalysisHealth strategies after a company merger
If you read nothing else, read this …Ensure communication is timely to avoid unnecessary anxiety and rumours.Keep employee assistance programme providers informed of any organisational changes and the products and procedures that are in place to provide extra support.Rebranding and relaunching a health and wellbeing strategy after a period of ...
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AnalysisAre payroll providers up to the pensions auto-enrolment task?
If you read nothing else, read this…Employers have high expectations of their payroll providers ahead of auto-enrolment.Employers must have a clear understanding of the auto-enrolment requirements they have for their payroll provider.Payroll providers face the challenge of preparing for both auto-enrolment and real-time information (RTI).Auto-enrolment has arrived and, as implementation ...
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AnalysisVoluntary benefits offer seasonal savings
If you read nothing else, read this…Staff who are cash-strapped in the run-up to Christmas will appreciate access to discounts and cashback on products.How voluntary benefi ts are provided is as important as what is offered.Not all discounts and vouchers are appropriate to all employees, as Christmas-focused benefits.With the UK ...