Analysis
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AnalysisRaising the profile of voluntary benefits
Credit: Billion Photos/ Shutterstock 2464376955 Need to know: Benefits such as retail discounts, mortgage advice and salary sacrifice arrangements are powerful tools in a cost-of-living crisis. Voluntary benefits can help engagement across a multi-generational workforce, as different demographics pick relevant services. Communication must ...
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AnalysisBuyer’s guide to corporate gym membership
What are corporate gym memberships?Employers can offer a corporate gym membership on an employee-paid or discounted basis, with many gyms offering membership deals to organisations. Through membership, staff can access a gym, health club, leisure or sports centre, or exercise classes as part of a voluntary or flexible benefits package.What ...
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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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AnalysisBuyer’s guide to retail and discount voucher schemes
What are retail and discount voucher schemes?Employee discount voucher schemes come in various forms, all of which aim to provide staff with savings on a range of purchases, from everyday shops to big-ticket items and the latest technology. There are three main types of scheme, which might fall under different ...
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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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AnalysisAre car schemes still a valued employee benefit?
Need to know:Company car take-up has fallen in recent years as overall tax levels have risen.Electric cars benefit from lower rates and are now the focus for many employers.These are increasingly being offered via salary sacrifice rather than on a company-paid basis.For many years, the traditional company car scheme was ...
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AnalysisCan employees remain engaged with retirement saving while costs of living rise?
Need to know:The cost-of-living crisis may result in employees disengaging with pension saving.But the chances are employer pension communications may not be up to scratch.Delivering clear messages at the appropriate time will pay dividends in securing financial wellbeing and HR operational efficiency.Retirement savings is a bit like cleaning out gutters ...
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AnalysisHow financial education can help employees make their money go further
Employers may want to consider giving employees practical help that includes debt management, budgeting and top tips for saving on everyday spending.Educating employees with basic skills like budgeting and saving for a deposit for a first home can also provide help in other areas of life.Other benefits like discounted shopping ...
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AnalysisHow to make the case for electric company car schemes
Need to know: Businesses are under pressure to cut carbon emissions, and employee vehicles are an obvious target. Salary sacrifice schemes mean this can save companies money, and make electric vehicles affordable for staff. Subscription models mean firms are no longer tied into long leases should ...
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AnalysisTop tips for introducing salary sacrifice pension schemes
A salary sacrifice pension arrangement should not be agreed if the effect of this, such as a reduction in the employee’s pay, would lead to a breach of the national minimum wage legislation. A simple step, such as giving employees full transparency on which businesses the ...
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AnalysisHow do staff travel schemes vary around the world?
The low benefit-in-kind of just 1%, which will be capped at no more than 2% until 2025, means zero-emissions cars on a salary sacrifice scheme can be a truly affordable way of driving.Most employers have restricted travel into the office and discouraged people from travelling on public transport, but there ...
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AnalysisTop tips on implementing electric company car schemes
Need to know: Electric vehicles are now a realistic option for company fleets, either as an employee benefit or through salary sacrifice arrangements. Favourable benefit-in-kind rates are making this more attractive compared to petrol or diesel options. But some concerns remain around charging infrastructure and battery ...
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AnalysisHas the role of health cash plans changed during the pandemic?
Need to know:The use of online counselling, virtual GP services and employee assistance programmes (EAPs) has soared since the start of the pandemic.Health cash plan providers are offering claim period extensions and payment holidays to help employees.The importance of providing all-round health support, as cash plans do, has become ever-more ...
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AnalysisCan employee benefits be used to counter climate change?
Need to know:Increasing climate change awareness and the introduction of government targets are leading employers to review what can be done within their organisations.Some are changing the slant of their benefits schemes by promoting these differently to employees, highlighting the environmental impact more prominently.Incentives can be used to create day-to-day ...
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AnalysisWhat are the latest trends in voluntary benefits?
Need to know:As the war for talent increases, voluntary benefits can provide a cost-effective method of creating a package to attract and retain staff.Everyday savings, such as on groceries, tend to be universally popular, but some employers are bringing in discounts on bigger items such as cars and real estate.Employers ...
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AnalysisSacrificing salary: Voluntary benefits in numbers
!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script")[0],d=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=d+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var r=e.createElement("script");r.async=1,r.id=s,r.src=i,o.parentNode.insertBefore(r,o)}}(document,0,"infogram-async","https://e.infogram.com/js/dist/embed-loader-min.js");Read more...What are the latest trends in voluntary benefits?PageGroup uses holistic platform to engage employees with voluntary benefits
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AnalysisAddressing increases to auto-enrolment contributions to maximise financial wellbeing
Need to know:As auto-enrolment minimum contributions increase in April 2019, some employees may opt out of their pension in order to address present financial concerns.A communications approach that puts the changes into monetary values, and considers finance holistically, can bolster employee understanding.Using a salary sacrifice pension arrangement can mitigate rising ...
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AnalysisHow to help employees manage their take-home pay when in a salary sacrifice scheme
Need to know:Automation and payroll tools can flag if an employee is at risk of falling below the minimum wage because of salary sacrifice, but employers should be wary of becoming overly reliant on such technology.Employee communications must illustrate clearly what the effect of salary sacrifice will be on pay, ...
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AnalysisHow do salary sacrifice arrangements affect gender pay gap reporting?
Need to know: Deductions for salary sacrifice arrangements are excluded from an employee’s base pay for the purposes of gender pay gap reporting. This could influence an organisation’s final gender pay gap data depending on how many women compared to men have taken up benefit via ...
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AnalysisWhat are the latest trends in staff travel?
Need to know:The changes to salary sacrifice arrangements that impact car schemes offered on this basis may have changed some employees’ attitudes to cars, but promoting green cars is an option for employers.Employers can support the implementation of electric and hybrid cars by investing in charging points.Changing working practices, such ...