All Analysis articles – Page 9
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AnalysisHow to sell pensions change into an organisation
Need to know:Change will happen when it comes to employers’ pensions plans. Whatever the change, some universal principles remain true.Stakeholders should be involved early, to ensure they can voice any objections and feel involved in the process. Avoid legalese; be honest, clear and concise. If it is bad news, upfront ...
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AnalysisHow to target financial wellbeing support to employees
Employers can offer financial wellbeing support based on which benefits are most frequently used, which will highlight prevalent financial issues among employees.As employers often have wide-ranging demographics that have varying preferences and needs, different communication methods will be required for each group.Tailored benefits that are personalised to employees’ needs offer ...
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AnalysisBenefits for graduates
Research has shown that graduates value a good work-life balance and development opportunities when entering the workforce.The Covid-19 pandemic and cost-of-living crisis have meant that graduates are also looking for wellbeing and financial benefits.Being aware of available support and inclusive benefits can be attractive even if graduates are unlikely to ...
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AnalysisHow can pay transparency manage employees’ expectations around salary?
Need to know:In challenging times, it is important to foster trust in the workplace. Transparency around pay levels and salary capabilities helps to avoid frustration and misunderstandings and instead provide clarity and reassurance.When it comes to asking for a pay rise, knowing what those in a higher position are earning ...
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AnalysisHow much do employees value CSR initiatives?
Need to know:Corporate social responsibility (CSR) initiatives and volunteering can be highly valued by employees and used as an engagement and retention tool.Employers should consult staff to understand what causes matter most to them.Start with low-level commitments before extending these, and seek employee feedback on schemes.In recent years, organisations have ...
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AnalysisHow to support employees with an eating disorder
Symptoms of an eating disorder include trouble sleeping, low confidence and self-esteem, food anxiety, and feelings of shame, guilt and irritability.There is no one-size-fits all response, so employers need to be as flexible as possible.Employee assistance programmes can offer counselling, access to relaxation techniques for insomnia and cognitive behavioural therapy, ...
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AnalysisWhat impact will the living pension initiative have on employees’ retirement outcomes?
As a voluntary savings target, the living pension initiative sets out the minimum annual contribution needed to afford basic living costs in retirement.Employers should ensure that employees who increase their contributions in line with this are not saving at a rate they cannot afford.Organisations should engage employees in their future ...
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AnalysisWhat can benefits technology tell an employer about its workforce?
Need to know:Enriching benefits data with information from other sources can help employers create personalised benefit offerings.Low take-up rates do not always indicate a benefit is not popular: it may need an awareness or education campaign to boost engagement.Data enables organisations to take a more agile approach to benefits, adjusting ...
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AnalysisHow can employers support staff that also have full-time caring responsibilities?
The Carer’s Leave Act will provide employees caring for a dependent with a long-term care need with one week of flexible unpaid leave a year.Flexibility around job positions, hours and locations, as well as promoting this in job adverts, is crucial to help recruitment and retention.Employee assistance programmes, financial assistance ...
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AnalysisWhat impact will CDC pensions have on employers’ retirement provisions?
Need to know: Collective defined contribution (CDC) pensions potentially offer a more sustainable way of funding pensions and reducing pension liabilities for some employers. Their potential to provide a more secure and predictable retirement income for employees could help to close the retirement savings gap that ...
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AnalysisWhat does the modern company car scheme look like?
Modern company car schemes can offer a tax-efficient means to access new vehicles.A company car can be a useful attraction and retention tool for employers.Car salary sacrifice arrangements are popular with employees due to the low cost and access to low and zero-emission vehicles.The Covid-19 pandemic saw many employees work ...
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AnalysisHow can employers build the case for aligning financial and mental wellbeing strategies?
Need to know:Financial worries affect the bottom line, with a poll by the Chartered Management Institute (CMI) finding the majority of employers believe the cost-of-living crisis has caused stress and anxiety that have affected productivity levels.Many organisations already offer benefits that can support employees’ financial wellbeing, whether as a core ...
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AnalysisHow to ensure a health and wellbeing strategy is inclusive
Inclusive wellbeing programmes should not just be tick-box exercises and employers should not assume that one-size-fits-all.Employees need to be able to access benefits and information wherever they are based in order for a strategy to be inclusive.Employers must bear in mind employees with specific accessibility requirements when displaying benefits information.With ...
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AnalysisWhat does it mean to be an employer of choice in today’s labour market?
The Covid-19 pandemic and cost-of-living crisis have changed which benefits employees value the most and what employers offer.Organisations that balance their own needs with those of their employees are likely to succeed in attracting and retaining talent as an employer of choice.With the right approach, employers can build a supportive ...
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AnalysisWhat role does ChatGPT have to play in benefits communication?
Need to know:Artifical intelligence (AI) systems like ChatGPT can automate and streamline processes, freeing up HR and leadership time for more nuanced and creative tasks.Benefits communications can be personalised, and their delivery optimised for each individual employee, to have a the best possible impact.Employers must be careful with sensitive data, ...
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AnalysisHow much value do employees place in holding equity in an organisation?
Interest in employee ownership and share schemes is increasing from employees.These schemes can be a great motivation and engagement tool by giving employees greater involvement in the business.The risk of demotivating employees can be mitigated by granting options in most share schemes, so if the value goes down they incur ...
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AnalysisHow can employers support working carers through the school holidays?
Need to know:Employees are set to struggle with juggling work and childcare as the annual school summer holidays approach.Employers can help by offering flexible work arrangements, discounted leisure and dining vouchers, and signposting staff to government support.Employers that can be seen to help will benefit from more productive and motivated ...
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AnalysisHow to position group risk benefits to support long-term health issues
Communicating the value of group risk products and the areas in which they protect staff is key.Group risk schemes often offer added services that can further support staff.Early intervention can increase return-to-work rates following a long-term health issue, so it is key to communicate who staff can contact and when.Group ...
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AnalysisWhy musculoskeletal support should be a priority for employers
Repetitive movements, using a computer, poor posture and sitting at an inadequate desk without back and neck support can lead to poor musculoskeletal health and related sickness absences.Acute back pain, for example, becomes chronic after 21 days, which can significantly impact an employee’s physical and mental health, and their ability ...
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AnalysisSupporting staff following a relationship breakdown
Need to know:A relationship breakdown can be traumatic, adversely affecting an employee’s mental health and performance.A wide range of support tools are available including employee assistance programmes (EAPs), concierge services, legal advice and flexible working.Making separation a life event can make it easier for employees to make changes to benefits ...