All Analysis articles – Page 75
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Analysis
How to set pay budgets
If you read nothing else, read this. . .Pay setting should consider collective versus individual pay awards, base pay versus total earnings, benefits links, pay policy, equality and segmentation.Segmentation, whereby different pay scales are created for different groups of employees, has been of increasing interest to employers seeking to make ...
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Analysis
Corporate Isas are a winning bet
If you read nothing else, read this …People are turning to Isas rather than pensions as a private savings vehicle.Easy payroll deduction is probably corporate Isas’ biggest attraction.A key decision is whether to offer a cash Isa or stocks-and-shares version.Take-up of corporate Isas has been slow but steady so far.Case ...
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Analysis
DHL Supply Chain moves to streamline benefits
Case study: PMI provides express delivery of careSteve Henshaw, a general manager at DHL Supply Chain, says private medical insurance (PMI) is one of his most valued employee benefits provided by the organisation.Henshaw, who works at the organisation’s Bedford warehouse on behalf of Sainsbury’s, is responsible for dispatching clothing to ...
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Analysis
Auto-enrolment roundtable: Communication
If you read nothing else, read this …When trying to push the auto-enrolment message home to a younger audience, the trick is to avoid jargon.Employers must structure their communications according to the characteristics and needs of their workforce.The pension reforms are being publicised nationally, but employers must ensure their own ...
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Analysis
Auto-enrolment roundtable: Costs
If you read nothing else, read this …The direct costs of implementing auto-enrolment will depend on factors such as how many employees opt out.Payroll system upgrades and widespread communication exercises could increase the administration costs of auto-enrolment.Some employers may seek economies elsewhere in their benefits budget to cover the costs ...
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Analysis
Auto-enrolment roundtable: Ensuring compliance
If your read nothing else, read this …Some employers are taking steps, such as trying to boost numbers in existing schemes ahead of staging dates, to ensure they are not overrun once auto-enrolment starts.Compensation and benefits professionals will need to get buy-in from all parts of their organisation – HR, ...
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Analysis
Auto-enrolment roundtable: Will reforms succeed?
If you read nothing else, read this …The pension provision offered for auto-enrolment should also serve an employer’s workforce planning strategy and wider business interests.Employers that want to continue using their pension to boost recruitment and retention may have to raise the stakes and make sure their offering stands out ...
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Analysis
How does pensions auto-enrolment fit with flexible benefits?
If you read nothing else, read this…Under auto-enrolment, the main purpose for offering flex must not be to induce staff to opt out of a scheme.The communication and design of a flex scheme and the contribution structure of a pension scheme will be key to determining what is acceptable.An employee ...
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Analysis
How to get the most out of providers and advisers in the run up to auto-enrolment
If you read nothing else, read this…Employers need an auto-enrolment roadmap outlining their objectives before reviewing providers’ services.Employers should compare their pensions, HR and payroll providers’ services with the market to ensure they are most suitable for their organisation.Test providers on how they will: identify staff to be auto-enrolled, communicate ...
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Analysis
Auto-enrolment roundable: Administration
If you read nothing else, read this …Employers may spend a lot of time on the administration created by a small number of staff, such as contract workers.Even employers that already auto-enrol staff may need different processes to comply with the legislation.When auto-enrolling staff, employers could inadvertently breach protections around ...
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Analysis
The evolution of reward and benefits since 1952
If you read nothing else, read this…Pay and set working hours were the core benefits for most working people when Queen Elizabeth II ascended the throne in 1952.The rise of employee benefits stems partly from employers’ attempts to circumnavigate pay increase demands from unions.Defined benefit (DB) pension schemes peaked in ...
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Analysis
Sharesave versus share incentive plans
If you read nothing else, read this …Sharesave and share incentive plans (Sips) offer income tax and NI exemptions, subject to certain terms.Sharesave schemes are savings vehicles to which employees can contribute between £5 and £250 a month out of net pay, with which they can buy shares after three, ...
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Analysis
Quality control needed for DC schemes
If you read nothing else, read this …DC schemes have been the poor relation in pensions with little time spent on them.They have been criticised for low levels of governance and poor investment structures.Investments have typically been 90% equities with little consideration for individual risk tolerance.More than 80% of DC ...
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Analysis
The Defined Contribution Debate
Over the past few years, the writing has been on the wall for final salary or defined benefit (DB) pensions. There was little doubt defined contribution (DC or money purchase) schemes would become the new world order, but growing concerns were voiced that DC had been run as a sideshow ...
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Analysis
Top tips for managing sickness absence
If you read nothing else, read this…Line managers should be trained in how to manage sickness absence.Employers should track absence data and have clear policies and procedures in place to deal with it.Non-medical absences should be included in absence policies.Case study: Intervention is on the money for ICAPInterdealer money broker ...
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Analysis
Pension pools make a splash
?High-profile examples of pooled pension schemes in the public sector have triggered debate about whether similar arrangements could also be used more frequently in the private sector.Last month, London Councils announced it was looking into plans to create a pooled pension fund to reduce administration costs and divert up to ...
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Analysis
London Overground gets staff set for Olympics
Case study: Cashing in on travel savingsRobert Bowers, a newly-recruited conductor at London Overground, values the company’s defined benefit (DB) pension scheme and travel discounts. He is also interested in paying pension contributions via salary sacrifice, which results in savings on tax and national insurance (NI).Bowers, who joined London Overground ...
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Analysis
Managing the health and wellbeing of employees overseas
If you read nothing else read this… Where possible, multinational employers should choose a single provider for healthcare provision. Using an online portal can help ease the challenges of managing health and wellbeing benefits from a central location. EAPs and health screening can be offered internationally.It is becoming easier to ...
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Analysis
Group risk roundtable: The effects of government reforms
If you read nothing else, read this...Government intervention in the form of welfare reforms and National Health Service cuts will force employers to take more responsibility for employee health and wellbeing.Concerns surround the proposed Independent Assessment Service (IAS), particularly with regard to its method and speed of delivery.Fit notes have ...
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Analysis
Group risk roundtable: Economic influences on stress
If you read nothing else, read this… Stress is now the number one cause of long-term absence, according to the CIPD. Employers are concerned about presenteeism, whereby employees are remaining at work when they are ill because of fears about job security. Problems outside the workplace are a significant cause ...