All Analysis articles – Page 77
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Analysis
Workplace Savings Industry Forum: Get equipped to meet your duties
Choosing the right technology and a suitable partner can ease employers’ burden in complying with auto-enrolment, says Peter GlancyEmployees across the UK are not saving enough for their retirement, with only half the population preparing adequately and one in five doing nothing at all, according to Scottish Widows’ 2011 Pension ...
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Analysis
Salary sacrifice company cars: Case studies
Local authority adds early termination insurance to salary sacrifice car scheme, while banking group boosts retention by consolidating car benefits for all employees†Cheshire West and Chester CouncilCheshire West and Chester Council reduced the risks associated with its salary sacrifice car scheme by insisting that participating employees take out early termination ...
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Analysis
Salary sacrifice company cars: Choosing vehicles and providers
Key choices in cars and providers Interrogate providers on car choice, discounts, support and maintenance package, and also whether they understand the organisation’s needs. Look for an adviser with a good track record in this area. Employers must decide whether to put a cap on emissions before choosing the cars ...
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Analysis
Salary sacrifice company cars: How to promote a scheme
How employers should promote salary sacrifice car schemes to staff Carry out a staff survey before implementing the scheme. Work with the leasing provider to run workshops, roadshows, events and presentations, distribute flyers, posters and leaflets. Ensure the scheme’s online portal includes comprehensive FAQs, a detailed explanation of ...
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Analysis
Salary sacrifice company cars: Understanding the risks
Key risks and solutionsRisks Early termination/employees leaving the business. Employees no longer able to sacrifice, normally because of moving to lower statutory pay because of maternity leave or long-term absence. Possible longer-term impact on pension expectations.Solutions Early-termination insurance. Passing on the cost to the employee. A contingency or buffer fund. ...
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Analysis
Salary sacrifice company cars: How to implement a scheme
Top tips for set-up Find out how much employee demand there is for the benefit. Seek specialist tax advice. Ensure the launch fits in with any other new benefits planned. Make sure the portal highlights tax breaks and explains the commitment staff are making.Employers must do a lot of groundwork ...
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Analysis
Salary sacrifice company cars: What is salary sacrifice?
The advantages of offering a salary sacrifice car scheme A tax-efficient benefit for employees and, to a lesser extent, employers, at little or no cost to the business. A useful retention, engagement and motivation tool. Employees get hassle-free access to a car they may not have been able to afford ...
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Analysis
Building a PMI plan for expatriates that complements state provision
If you read nothing else, read this… Making use of state healthcare and local provision where possible for expatriate staff can help to reduce the cost of providing international medical insurance, but it can add complexity. Depending on where staff travel and the duration of their time abroad, another option ...
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Analysis
Salary sacrifice company cars: Building a business case
Key selling pointsSupporting employees to drive low-CO2 cars. Significant enhancement of the reward package. Ability to deliver a saving to the employer. Reduces grey fleet and associated health and safety issues. Positive recruitment and retention tool. n Typical saving of up to 35% compared with leasing and insuring a car ...
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Analysis
Salary sacrifice company cars: What are the tax breaks?
Forthcoming tax changesFrom April 2013The 5% BIK rate threshold will still apply to cars emitting 75g/km of CO2 or less, but the 10% threshold will be narrowed still further, to a maximum of 94g/km. Cars emitting 95g/km upwards of CO2 will attract a BIK rate of between 11% and 35%, ...
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Analysis
Salary sacrifice company cars: Sponsor's comment: A strong benefit to drive value
A salary sacrifice company car scheme has much to offer but brings a lot to consider, says Ian Hughes, commercial director at Zenith.It is nearly two years since we last sponsored the How to manage salary sacrifice company cars guide with Employee Benefits, and three and a half years since ...
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Analysis
Get a full view of pension annual management charges
If you read nothing else, read this…Annual management charges (AMCs) can range from approximately 0.3% to 1%.Employers setting up a new pension scheme may be able to take advantage of competitive terms being offered by providers in a ‘land grab’ ahead of the Retail Distribution Review coming into effect from ...
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Analysis
Svitzer gets all pension stakeholders on board
Towage giant Svitzer UK got all stakeholders on board to navigate a new course for its pensions, says Padraig FloydIn 2009, David Noakes faced a difficult decision. As company secretary and pensions manager at maritime towage company Svitzer UK, he had to decide how to take its myriad pension schemes ...
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Analysis
Workplace Savings Industry Forum: Get the value message across
A financial education programme may hold the key to maximising workplace savings opportunities, says Jonathan Watts-LayIn these challenging economic times, with the introduction of new regulations, employers and employees are often overwhelmed. Whether the introduction of auto-enrolment, removal of the default retirement age or options at retirement, the considerations are ...
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Analysis
Employee Benefits Workplace Savings Quarterly – April 2012
Download a PDF of the first half of the Employee Benefits Workplace Savings QuarterlyDownload a PDF of the second half of the Employee Benefits Workplace Savings QuarterlyRead articles:NewsViewpoint: Keith Tondeur of Credit ActionViewpoint: Padraig Floyd of Workplace Savings QuarterlyViewpoint: Holly Mackay of The PlatforumCover story: Joint effort required on savingsPensions: ...
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Analysis
Putting share schemes at the heart of the reward strategy
If you read nothing else, read this… More employers are making use of their company brand to promote share plans to staff. Mirroring the look and feel of external communication materials can help employees to identify with an already-established brand. Using a single brand can help staff in organisations with ...
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Analysis
Happiness at work
If you read nothing else, read this… David Cameron raised the issue of employee happiness and wellbeing during a speech in 2010. The promotion of control and reward at work and a strengthening of work-life balance are deemed prerequisites for employee wellbeing. Happy staff will go that extra mile for ...
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Analysis
Engaging and motivating staff in tough times
If you read nothing else, read this …Receiving employee benefits continues to be a contributor to employee satisfaction and engagement.Employers need to consider what impact the recession had on the way employees work, and are therefore rewarded and motivated.Ensuring employees are engaged is essential to succeed in the battle ...
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Analysis
Dairy Crest focuses on total reward
Case study: Flexible working appreciatedSteven Phillips has been supporting applications team leader in Dairy Crest’s business systems department since February 2010. He has been with the company since August 2000, and worked previously as a business analyst.In his current role, Phillips has responsibility for the operational management of a wide ...
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Analysis
Educating staff to deal with stress created by technology
If you read nothing else, read this…Look out for the signs of technology addiction. An employee who constantly checks emails in the middle of the night could be heading for problems.Those suffering ‘technology depression’ could be referred to an employee assistance programme.A prevention strategy includes stating what is expected from ...