Analysis – Page 2
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AnalysisHow are employers’ approaches to Christmas celebrations changing?
Some employers are bringing back their in-person Christmas celebration this year specifically to bring people together and help create a connection among the workforce, as well as address diversity and inclusion.Employers should still be mindful of individual needs and preferences, as not everyone has returned to the workplace, choosing to ...
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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 ...
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AnalysisWhy is authentic leadership important in business?
Need to knowEmployees are increasingly demanding that their leaders act with authenticity and integrity as they re-evaluate their priorities post-pandemic.Authenticity demands a number of skills, from empathy to strategy, many of which can be coached and nurtured by businesses.Listening to employees and fostering the right culture are integral to survive ...
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AnalysisHow employee share schemes can be used to attract and retain talent
Need to knowFinancial gain aligned to the success and growth of an organisation supports medium- and long-term motivation and retention.Employers should keep communications clear, but simple. Employees will need to understand the personal monetary value of a share scheme before making the decision to sign up.Share schemes should be part ...
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AnalysisWhat really motivates an employee to stay with an employer?
Need to know:With the Great Resignation underway, organisations are working out what really makes staff join and stay with a business.Flexibility, wellbeing and work-life balance are all highly prized by employees.A wider sense of organisational values and the ability to develop are also attractive.The emergence of the Great Resignation in ...
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AnalysisWhat role does a reward strategy hold in a battle for talent?
Need to know:Benefits such as financial education, salary sacrifice, health cash plans and discount platforms can help to support employees during the cost of living squeeze.Higher inflation may help address existing pay inequalities but organisations must also guard against creating new ones with jobseekers demanding higher starting salaries.Paying attention to ...
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AnalysisWhy should employers consider employee ownership as their next business move?
Need to know:Transitioning to an employee ownership trust (EOT) transfers control of a business to employees, while also giving tax incentives to the shareholders.There is also the opportunity to deliver an annual bonus that comes under the tax-free allowance, which is currently £3,600 per employee per year.Trustee board meetings will ...
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AnalysisHow can employers effectively communicate an employee value proposition?
Need to know:Employee value propositions can help organisations outline their purpose and culture.Essential communication is essential, including through new digital channels.Involving senior management and employees can also prove effective.With the 'great resignation’ well underway, employers are having to think more about how they can retain staff.For many, developing and communicating ...
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AnalysisTop tips for moving staff to a four-day working week
Nearly a third (31%) of UK workers are actively looking for a four-day work week in 2022 or have already agreed to one with their current employer, according to research published by productivity platform ClickUp in January.With fierce competition in the market for talent many employers have already obliged, with ...
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AnalysisHow can employers improve staff motivation going into the new year?
A key challenge for businesses next year is to ensure that their messaging around culture, purpose and values is not only aligned, but reflected in the employee experience through benefits, reward, recognition and development.By understanding employees’ differences, employers can provide more genuinely rewarding incentives for individuals to work towards.Surveys and ...
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AnalysisHow can employers strike the right balance between financial and non-financial rewards?
Need to know:With vacancies at record levels as the economy recovers, getting the right balance between financial and non-financial rewards is more important than ever to retain and attract employees.Non-financial benefits can improve employee satisfaction, self-confidence, security, engagement and productivity.Employers need to be proactively surveying and talking to employees to ...
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AnalysisCan a reward strategy be truly agile while still delivering on an employer’s philosophy?
Employers have had to quickly amend their benefits approach to best support employees working through challenging circumstances.Recent times have shown us how important resilience is and the ability to cope with change swiftly, so why shouldn’t that translate to reward strategies as well?Constant change to an underlying philosophy would be ...
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AnalysisHow has the pandemic changed the shape of Christmas incentives and rewards?
Need to know:Employers are taking a more personalised and imaginative approach to gifts this Christmas. Think pamper days, bespoke hampers and personalised gift cards.This year, many employers will be using the budget they would have spent on Christmas parties on rewards and gifts.Many are also offering blended rewards, combining high ...
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AnalysisHow has the hybrid working trend impacted benefit and reward strategies?
Need to know:The future of work is likely to be made up of a mix of office and home working.This is having an impact on what benefits employers offer.How employers communicate with staff will also need to change in a hybrid model.The potential for most employees to work from home ...
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AnalysisIs cash still king when it comes to motivating modern workforces?
Need to know:Assuming that an employee is fairly paid and has adequate income to fund their lifestyle, a pay rise or bonus is unlikely to make a significant impact on their performance.A good long-term strategy for boosting employee productivity as opposed to cash incentives is clear communication and strong management.Employees ...
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AnalysisHow can total reward packages motivate employees post furlough?
Need to know:One way to motivate employees after being on furlough is for employers to simply ask them what they need or want and to tailor the rewards package to this.There is an understanding that communication around rewards packages needs to be clear, and this needs to be underpinned by ...
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AnalysisCould an economic pick-up lead to a new benefits approach that retains and engages staff?
Need to know:The UK economy is growing strongly, causing concern about staff retention.Benefits around company culture, flexible working, health and choice are likely to be in demand.There are some quick wins that could help make an immediate impact.News that the UK economy grew by a stronger-than-expected 2.1% in March, coupled ...
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AnalysisHow can employers link carbon-neutral goals with their reward strategy?
Need to know:Organisations are under pressure to reduce their carbon footprints and employee benefits can help with this.Ensuring pension funds are invested in environmentally-friendly businesses is a good place to start, while executives can be rewarded on similar metrics.The use of green reward schemes and encouraging greener forms of travel ...
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AnalysisHow can employers motivate teams collectively in the current environment?
Need to know:Employers avoid quizzes and opt for virtual play-based games to keep employees motivated.They can investigate wellbeing platforms paired with wearable technology to collectively engage staff in active challenges.Benefits should be reviewed and tailored to employees' personal circumstances.Team building exercises, away days, family fun days and pub quizzes have ...
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AnalysisHow can employers align their healthcare strategies with employee needs?
Need to know:Employee healthcare programmes that try to be all things to all staff may appear generous, but are less likely to be used by employees than a strategic approach that offers the most in-demand benefits.The use of data, including sickness absence data, can help to identify some of the ...