Analysis
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AnalysisHow to conduct an ethnicity pay review
Source: Shutterstock Mandatory ethnicity pay gap reporting will be introduced in the future, along with the Equality (Race and Disability) Bill. Ethnicity data is a special category under GDPR, so employers must state what it will be used for and how it will ...
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AnalysisWhat are the priorities for public sector reward agendas?
Credit: tete_escape/ Shutterstock Need to know: In the public sector, financial constraints, benefit guidelines and stakeholder scrutiny can make reward more challenging. Years of reforms mean public sector employees often perceive their pensions as offering poor value: creative communications could help to change this misconception. Highlighting ...
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AnalysisDo financial wellbeing strategies support employees where they really need it?
It is important to understand employees’ needs before putting any financial wellbeing strategies in place. Any employee, regardless of their salary, may be in need of financial wellbeing support, so a sensitive approach to gleaning this is desirable. Encouraging conversations about financial needs and experiences can ...
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AnalysisAre reward professionals ready for the 2026 P11D changes?
Credit: Hyejin Kang/Shutterstock Need to know: Employers should start planning now for the P11D changes to the reporting and paying of tax and Class 1A national insurance contributions (NICs) on benefits in kind, to ensure a smooth transition to the new system in April 2026. Potential ...
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AnalysisHow effective is strike action in pay and benefits disputes?
Employees often take strike action over issues such as pay, health and safety, pensions, benefits, changes to terms and conditions, and union recognition. The UK has strict laws regarding strike action and it cannot take place if certain requirements have not been met. Employers should consider ...
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AnalysisFiscal drag: how can employers offset the challenges of a difficult economy?
The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result.Employers should ask employees about their financial pressures to understand how to support them.A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag.In his ...
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AnalysisHow to strike a balance between managing staff wellbeing and financial pressures
Credit: Andrey_Popov/ShutterstockNeed to know:The cost-of-living crisis is forcing more employees to take on additional work due to financial pressures, raising concerns around burnout.Pay strategies such as targeted pay increases, performance-related bonuses and earned wage access can help.Employers need to ensure there is a culture where people can discuss financial concerns.With ...
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AnalysisHow to keep employees happy on minimum pay rates
Credit: M2K7/ShutterstockNeed to know:When budgets are under pressure, organisations need to strike the right balance between pay, benefits and other factors such as working conditions and wellbeing.Benefits such as discount schemes, health cash plans and financial education can help employees make their money go further.Communication is key, helping organisations understand ...
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AnalysisWhat actions can employers take to close the gender pensions gap?
More employers could introduce gender inclusive paid parental leave to prevent and try to close gender pension gaps.The Pensions (Extension of Automatic-Enrolment) (No. 2) Bill will remove the lower earnings limit, enabling more employees to pay into a pension.In order to help close the pensions participation gap, more education on ...
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AnalysisDoes crypto currency have a role to play in employers' pay strategies?
Need to know:Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professional services firms that support them.Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more ...
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AnalysisHow to structure a sustainable reward strategy
J.M. Image Factory/shutterstock_1864249615Need to know:Employee benefits can play an important role in helping organisations meet their sustainability goals, as well as helping to attract and retain staff.Travel-related benefits, pensions and carbon-offsetting schemes can all help employees make a difference to their carbon footprint, and that of their employer.It is vital ...
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AnalysisHow to conduct a pensions buy-in
A buy-in is a contract between a defined benefit pension scheme and an employer that removes longevity, market, interest and inflation risks.The parties involved include a sponsoring employer, a scheme trustee, advisers to the trustees and the insurer.If it looks like funding levels are affordable for the scheme against current ...
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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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AnalysisWhat financial wellbeing support should be offered around salary advance schemes?
It is important that salary advance schemes are explained properly so that staff fully understand how these operate and the costs involved.Many scheme providers will include financial education and guidance on how best to benefit from the scheme.Having access to data and monitoring usage each month can help identify if ...
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AnalysisWhat impact has the pandemic and economic crisis had on pay gaps?
The UK government suspended pay gap reporting in 2019/20 due to the pandemic and delayed enforcement for 2020/21, giving organisations an additional six months to publish their data.Those in insecure work, such as zero hours contracts and temporary employment, suffered greater falls in earnings and hours during the pandemic than ...
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AnalysisWhat role do share schemes play in the current economic climate?
While share schemes may not solve immediate financial worries, they can help boost long-term financial stability.Aligning staff with shareholders can improve motivation and engagement, reducing absence and turnover at a time when talent is at a premium.Proper communication of both the negatives and positives will help ensure staff get the ...
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AnalysisHow is the cost-of-living crisis affecting what employees want from their benefits packages?
The cost-of-living crisis has employees demanding pay rises in line with inflation, but many employers are unable to afford this long-term.Benefits that support financial wellbeing and education, including day-to-day budgeting and discounts, can help pay stretch further without raising pay.Employers should focus on practices that are sustainable and work for ...
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AnalysisSupporting everyday financial wellbeing in a changing economic climate
Employers are experiencing increasing demand from employees for salary rises because of the pressures on everyday financial wellbeing, such as the ever-rising cost of living, inflation and interest rates.Employers can offer their workforce support on how to save by utilising their workplace benefits, including discount schemes and budgeting tools.Financial education ...
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AnalysisHow sustainable are employers’ pay strategies?
Record high inflation in the UK is resulting in some employers increasing pay levels in an attempt to keep up.Unless changes to pay strategy are underpinned by a clear rationale and aligned to a well-thought through reward initiative, they are at risk of being unsustainable in the long-term.Alongside one-off payments ...
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AnalysisAre pay rises the best staff retention tool?
Credit: GoldenShark2 / Shutterstock.comAn employer’s compensation policy needs to be fair, equitable and as transparent as possible.Regular pay increases can be useful because if these are timely and properly aligned with career opportunity and growth, they can help employees feel engaged and motivated.Employees look to prospective employers for clarity and ...