All Analysis articles – Page 86
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Analysis
Pensions governance: Technology can handle auto-enrolment
If you read nothing else, read this… Administration systems will identify eligible staff, calculate contributions, handle legislative changes and relay information to payroll and providers. Employers should ensure the system handles data carefully to avoid mistakes such as taking an employee’s pension contribution twice. Employers must decide how ...
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Analysis
Pensions governance: Which adviser are you going to call?
If you read nothing else, read this... To select the right adviser, an employer must thoroughly understand its own needs. Consultants offer a range of pensions services, from communication to investment advice and complex funding options. Independent financial advisers also offer advice to staff with less complex needs. The retail ...
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Analysis
Dental benefits have many advantages
If you read nothing else, read this... Dental benefits can be used as an engagement and motivation tool. Good dental health can help to reduce sickness absence. Dental perks can help employees to ease the worry that may stem from lengthy NHS waits. Dental cover can also be extended to ...
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Analysis
Driver training can cut fleet costs
If you read nothing else, read this... Rising fuel costs and insurance premiums are making driver training a win-win for company car fleets. It is important to assess and manage driver risk and then decide who will benefit most from what sort of training. It needs to be sold as ...
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Analysis
How to reduce knock-on effect of pension charges
If you read nothing else, read this... Employers can negotiate lower annual management charges with their provider if they have a big workforce. Charges on GPPs tend to be more competitive than Sipps because their funds tend to be less specialised. Charges associated with contract-based pensions could increase after auto-enrolment ...
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Analysis
Total reward statements: Is online or paper best?
If you read nothing else, read this…The decision to offer online or paper-based statements can depend on the size, nature and demographics of a workforce, and the available budget.Online is typically the most popular method, but some employers are moving back to paper statements.Online statements can be cheaper and updated ...
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Analysis
Own-product benefits are a big motivator for staff
If you read nothing else, read this… Many organisations offer their own products or services to staff free of charge or at a discount, with many such employers to be found in the retail sector. These can be offered as core benefits, as well as through incentive and recognition ...
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Analysis
What does the future hold for flexible benefits?
If you read nothing else, read this… Flexible benefits, as currently known, are evolving and changing shape. The line is blurring between what has been traditionally known as flexible and voluntary benefits schemes. Flexible benefits schemes are covering a wider range of perks, such as pensions and financial ...
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Analysis
Changing times in the benefits provider market
If you read nothing else, read this… The benefits provider market is in a constant state of change as organisations merge, move around or withdraw from certain sectors. Forthcoming legislation, such as the Retail Distribution Review and the 2012 pension reforms, can be credited as drivers behind changes in the ...
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Analysis
Making defined benefit pensions more affordable
If you read nothing else, read this... Many DB pension schemes are closing, mostly because they are in deficit. Employers that run DB schemes feel these help recruitment and retention, and are the best plan to offer. DB pensions can be made cheaper by freezing accruals, converting to average career ...
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Analysis
Financial Education: Effective networking is vital
If your read nothing else, read this… Financial education is now likely to include interactive and online tools, such as quizzes and modellers. These can help staff to better understand complex financial topics and engage with their benefits package. Some employers give staff time during the working day to use ...
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Analysis
Financial Education: Why offer financial education?
If you read nothing else, read this... As many as nine out of 10 adults suffer stress over money matters, according to Axa research. Studies also show financial anxieties can affect performance at work. Financial education can help employees appreciate their, often costly, benefits packages. This, in turn, can boost ...
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Analysis
Financial Education supplement
Download the PDF of the Financial Education supplementSponsor’s comment: Employees need guidance to rethink their retirement plansEconomical ways to increase employee awarenessEffects of the Retail Distribution ReviewWhy offer financial education?Effective networking is vital
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Analysis
Financial Education: Effects of the Retail Distribution Review
If you read nothing else, read this… Commission on pensions and investments will be banned from 31 December 2012, when the Retail Distribution Review is implemented. This will pose challenges for employers when it comes to funding financial education for employees around pension provision. The move could prompt smaller employers ...
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Analysis
Private medical insurance in a disaster zone
If you read nothing else, read this… International PMI typically includes inpatient and outpatient services. Many international PMI policies will include medical evacuation and repatriation services, or will offer these as additional extras. Exclusion clauses may be included for areas that the Foreign Office advises against travelling to. ...
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Analysis
Financial Education: Sponsor's comment: Employees need guidance to rethink their retirement plans
Legislative changes have increased the retirement income options for staff, says Jonathan Watts-Lay, director at Wealth at WorkThe changing pension and retirement landscape means employees now have a number of options to consider. They save for many years into pension plans and other forms of investment to fund their retirement ...
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Analysis
Financial Education: Economical ways to increase employee awareness
If you read nothing else, read this...There are a number of ways in which employers can provide financial educationfor their employees cost-efficiently, such as online programmes.Some services, such as those provided by the Money Advice Service, are available at no cost to an organisation.The cost of providing financial education will ...
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AnalysisSainsbury's staff appreciate retail therapy
Employee discounts are the most popular benefit among Sainsbury’s burgeoning workforce, says Jennifer PatersonWith a 150,000-strong workforce as diverse as the food products sold in its 890 UK retail stores, Sainsbury’s benefits and reward team faces big challenges, especially when it comes to communicating benefits.Employees, with an age range of ...
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Analysis
Thought leaders: Academic insights: Show staff trust and they will respond
Key points The amount of choice employees can exercise at work has declined in the past 25 years. Commitment and motivation is a two-way street between employers and their workforce. Discretion and trust are key components for creating enjoyable jobs and motivating staff.†A little more autonomy can boost employee motivation, ...
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Analysis
Thought leaders: Academic insights: True value of benefits must be made clear
Difficult times have led to an innovative approach to voluntary benefits, says Ian KesslerIn difficult economic times, it would be fair to assume greater managerial scrutiny of employee benefits. There is scope to debate how organisations might deal with such benefits. There is a value-for-money argument, which highlights the scope ...