Analysis – Page 3
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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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AnalysisBenefits strategies in the Republic of Ireland
Need to know:Some of the core differences between the UK and Ireland centre around salary sacrifice arrangements, share schemes, pensions, and health insurance.Diversity and inclusion is particularly important to employees in Ireland, with awareness growing around issues concerning women, the LGBTQ community, and ethical practices.With a thriving employment market and ...
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AnalysisHow to use total reward to create a unified culture
Need to know:Focusing on culture creates a natural connection with total reward that is authentic, compelling, and connects back to the employer brand.Encouraging discussion between remote and international teams about total reward drives connectivity, and unity and enhances the employee experience.Current talent shortages, coupled with soaring inflation and a higher ...
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AnalysisHow can benefits help first-time buyers as property prices surge?
Employers can work with providers to offer financial education in the form of specific content guides, downloads, webinars, helplines, tools and modellers, including budgeting, mortgage affordability, mortgage rate calculators, and stamp duty calculators.One option employers can offer to help first time buyers is the lifetime individual savings accounts (Lisa), through ...
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AnalysisMaking the most of employer accreditations
Need to know:Accreditations are proof of the positive work being done by organisations, as well as a long-term commitment to change.The process can be complex, with different challenges depending on the type and the employer, but an accreditation team should be on hand to help.Without a deeper commitment, reaching for ...
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AnalysisHow can employers prioritise a more tailored reward strategy?
Employers must be able to offer a differentiated and competitive reward package in order to retain and attract staff.Through a comprehensive reward package, employers can offer a range of services to assist with various obstacles staff are facing.Building an element of choice into reward policies can be impactful and value-adding ...
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AnalysisWhat impact is the war in Ukraine having on benefits strategies?
Employee support during the war in Ukraine might include evacuating staff and providing flexible, practical support for those directly affected.Organisations should also remember the importance of mental health support for all employees, including senior managers.In addition to day-to-day considerations, businesses should understand the wider ramifications of world events on other ...
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AnalysisHow is technology changing the delivery of employee benefits on a global scale?
Although there are some universals, benefits are often subject to local cultural, tax and regulatory differences, which multinational organisations must then try to align with a global strategy.Digital channels can be used to create effective communication around what benefits are available in each location, as well as easing access and ...
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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 have reward strategies changed in 2021 and what might the new year bring?
Ultimately in 2021, reward professionals had to keep on the pulse of what employees wanted and needed more than ever.Employers can offer discount schemes and salary sacrifice schemes to those looking to keep costs low and boost their financial wellbeing, as well as providing support for those wanting to bolster ...
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AnalysisHow can employers support the work-life balance of staff on their return to the workplace?
Employers have to demonstrate that they are listening, learning, and that the wellbeing of staff remains a number one priority.There is a need to focus on the positives of returning, such as increased productivity, less loneliness and improved communication.A more dispersed workforce also requires better technology to easily access, understand ...
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AnalysisWhat are the benefits of personalising total reward statements?
Need to know:A total reward statement (TRS) can present a huge amount of information about the employee experience, from salary and bonus to tax and National Insurance savings through benefit schemes.TRSs were traditionally printed but have evolved into digital, real-time accounts.Demonstrating the entire value of an employee’s package can increase ...
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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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AnalysisShould employers use total reward to attract and retain the talent they need?
Need to know:Money is no longer the deal-breaker when it comes to hiring and keeping talent. Post-pandemic, employees are seeking a more holistic rewards package.A total rewards strategy must align to a firm’s unique strategic objectives and the broader employee experience.All areas of benefits can and should be promoted, and ...
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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 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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AnalysisWhat will be the key issues in reward and benefits post-Budget?
Need to know:New budgetary policies could see a squeeze on employee benefits and rewards.Reward professionals must tailor rewards to meet staff’s physical, social and financial needs in the 'new normal'.Employees are increasingly demanding sustainable rewards and benefits.Reward professionals hoping the Chancellor’s latest Budget might provide radical policies to transform the ...
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AnalysisHow can employers align their reward strategy and diversity and inclusion policies?
Need to know:Equality is firmly on the board agenda, with events such as the pandemic and Black Lives Matter forcing organisations to treat employees fairly.Technology can play a key role in driving diversity and inclusion through reward, enabling greater benefit choice and more personalisation of messaging.By highlighting inequalities, the pandemic ...
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AnalysisCan employers truly future-proof a benefits strategy?
Need to know:The pandemic has forced organisations to re-evaluate their benefits strategy.Future schemes are likely to include elements around health and financial awareness.Wider societal trends should also be factored into any futureproofing strategy.It is fair to say that 2020 presented its share of unexpected events. Even with the best planning, ...
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AnalysisWhat key reward and benefits issues are on employers’ radars for 2021?
Need to know: Employers should not overlook the importance of a reward and benefits strategy in the midst of making major workforce changes, such as redundancies. Employers should use the changing face of the workplace to remove any expensive or legacy benefits that are no longer relevant. Organisations should avoid ...