Analysis – Page 2
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AnalysisBenefits to support an older workforce
Employers could offer support through a midlife MOT, which provides a health and financial career check to help employees plan for retirement.Pre-retirement coaching can help to educate older employees on how to prepare for life away from work.Organisations can improve the recruitment, retention and development of older workers by signing ...
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AnalysisHow to support employees with neurodiverse conditions
Some neurodiverse conditions can be considered a disability under the Equality Act 2010, so employers have a legal duty to make reasonable adjustments.Employers can put tools in place to holistically support neurodiverse employees’ mental wellbeing.Biases in performance evaluations or promotion should be removed as they are not conducive to a ...
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AnalysisDo total reward statements still engage employees with their benefits packages?
Credit: Julia Sudnitskaya / Shuuterstock.comA total reward statement provides an overview of an employment package and its value.Offering choice regarding how a total reward statement is delivered to an employee is key to ensuring effective engagement.A personalised benefits package can help to engage employees with their benefits because it is ...
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AnalysisHow can voluntary benefits support employees in uncertain times?
Credit: Emerge / Shutterstock (1079190161)Employers should have an understanding of the issues their employees face in order to produce targeted and appreciated voluntary benefits strategies.To combat the cost-of-living crisis, employees can use spend and save platforms to save money on a day-to-day expenditures and weekly grocery shopping.Employees react better to ...
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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 a reward strategy can create a culture of success
A fit-for-purpose reward strategy is vital in creating a happy and rewarded workforce that drives productivity and success.Employers should create a reward strategy that allows employees with different lifestyles and needs to work in a way that enables them to thrive.Aligning a reward strategy with organisational objectives can contribute to ...
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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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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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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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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 ...
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AnalysisTeam versus individual recognition in the time of hybrid working
Team and individual recognition schemes may follow some of the same guidelines, but there are key differences when it comes to implementing these successfully.Employers must consider what forms of team and individual recognition work for their culture, and understand how this is changing during the rise of hybrid working.Connectivity and ...
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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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AnalysisWhere should employers draw the line with benefits provision?
If employers are not seeing a return on their investment in benefits or schemes are not achieving their desired aims, such as increased employee engagement or retention, then they might be spending too much.Employers should consider whether they are offering benefits to be viewed as an attractive place to work ...
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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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AnalysisWhat will the top reward trends be in 2023?
The cost-of-living crisis and looming recession has led to a stronger focus on support which will follow into the new year, with some employers looking at cost-effective options.Due to the struggle for talent and the rising costs of living, pay awards are expected to be higher next year than in ...
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AnalysisHow to engage staff with a total reward offering
To engage employees with a reward package, it needs to be clearly communicated, easy to understand and impactful in order to show its true value.The increasing use of personal devices to access benefits means that digital methods are often more effective.Factoring reward package reviews into formal milestones, such as six-month ...
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AnalysisHow to support employees with long Covid
In July 2022, an employment tribunal ruled that an employee with long Covid was classed as disabled under the Equality Act 2010.Employers may want to ensure that they prioritise the mental health and wellbeing of affected employees and not focus on getting them back to normal as quickly as possible.Regularly ...
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AnalysisHow can employers tailor benefits to suit ‘unretired’ employees?
Need to know:As increasing numbers of 'unretired' employees return to work, flexibility is an important factor in order to remove potential barriers from day one.Financial wellbeing may be a concern for many re-entering the workforce, while employers should consider the specific health issues facing older people.Having a tailorable benefits package ...
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AnalysisHow can employers use data to personalise a benefits proposition
Need to know:Data is helping organisations understand the needs of employees.Information can come from HR systems, surveys or employee-listening exercises.Employers can use insight to deliver personalised benefit offerings for individuals or generations.The use of data to help shape benefits strategy and decisions is becoming increasingly important as employers strive to ...
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AnalysisWhat are the most effective ways for employers to collect employee data?
Employee data should be collected in a compliant and responsible manner.Employers must be careful how they handle employee's data, especially given some of the sensitive personal, health and family data that may be available.Analytical technologies can allow organisations to gather instant and comprehensive insights on the value benefit schemes offer.According ...