Analysis – Page 6
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AnalysisHow to create a global reward strategy to support diversity and inclusion
Need to know:Organisation-wide values that commit to supporting diversity and inclusion should be upheld and respected across global locations.Consider benefit policies and communications through an inclusive lens to ensure that they do not exclude any groups.Use broad principles of alignment so that all global staff are supported while accounting for ...
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AnalysisDo total reward statements truly engage employees?
Need to know:Focusing on the value staff can derive from their total reward package rather than the cost to the employer can increase the relevancy that total reward statements (TRS) hold for employees.Online TRS can provide staff with up-to-date information and anytime access.Going beyond pay and benefits to include broader ...
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Analysis
Infographic: How do employers provide personalised total reward statements to staff?
An infographic looking at how personalised total reward statements are provided to employees (Source: Employee Benefits/Staffcare Benefits research 2017, published in May 2017).Read more in: Do total reward statements truly engage employees?!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");
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AnalysisHow to control the cost of employee benefits provision
Need to knowThe cost of benefits is increasing due to changes such as those impacting pensions auto-enrolment contributions, salary sacrifice arrangements and insurance premium tax.A risk-based approach taking in everything from financing mechanisms to claims controls can help secure the optimum benefits package for an organisation.Communicating benefits pushes up employee ...
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AnalysisTotal reward for the modern workforce
Need to know:Total reward strategies must develop in line with the profile of the modern workforce, including part-time and flexible-working employees, as well as a greater generational diversity.Employers should offer benefits around career and personal development, wellbeing, and recognition to attract and motivate a wide range of employees.Employers need to ...
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AnalysisInfographic: Proportions of independent and traditional workers in the UK workforce
An infographic looking at the proportions of independent and traditional workers in the UK workforce. (Source: McKinsey Global Institute's Independent work: choice, necessity and the gig economy report, October 2016)Read more in How will the gig economy affect employee benefits?
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AnalysisInfographic: How satisfied are traditional and independent workers?
An infographic looking at the satisfaction levels among traditional and independent workers. (Source: McKinsey Global Institute's Independent work choice: necessity and the gig economy report, October 2016)Read more in How will the gig economy affect employee benefits?
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AnalysisHow will the gig economy affect employee benefits?
Need to know:Gig workers are revolutionising the service economy. However, employers must tread carefully when offering them benefits or risk legal action and costly reclassification exercises.Arm’s-length benefits arrangements are evolving, where employers act as facilitators, rather than directly contributing financially.The government is currently investigating how the law treats gig workers, ...
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AnalysisHow could workplace automation impact engagement and reward strategies?
Need to know:Increased automation is likely to disrupt established ways of working and individuals’ relationship with employers.Organisations will need to tap into new skill sets, either through reskilling or the attraction of digital and non-traditional talent.As the profile of the workforce diversifies, a more targeted, flexible approach to reward and ...
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AnalysisInfographic: What is shaping employers' benefits strategies?
An infographic showing the top five issues shaping employers' benefits strategies in 2016. (Source: Employee Benefits and Xerox HR Services' Benefits research 2016, published in June 2016).Read more in: Is there a place for personalisation in an employee benefits strategy?
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AnalysisWhat is involved in a benefits feasibility study?
Need to know:Benefit professionals need to conduct feasibility studies to assess the implications of new benefit options.Cost, tax and legal issues should be considered.Consultants, providers and advisers can all provide information.Speaking to employees is also a good idea.Any employer looking to introduce a new benefits package will need to build ...
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AnalysisHow does a reward strategy evolve while an organisation grows at pace?
Need to knowWhen an organisation grows quickly, preserving the culture and benefits offering can pose a challenge.Asking employees what they want can help organisations to develop their benefits package to support their continued growth.Employers can consider ways to upscale the more informal benefits staff receive when they are part of ...
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AnalysisInfographic: Top five global benefits strategy challenges
An infographic looking at the top five global benefits strategy challenges facing employers (Source: Thomsons Online Benefits’ 2015 Global employee benefits watch, published in October 2015).Read more in How to build a 21st-century total reward strategy.
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AnalysisHow to build a 21st-century total reward strategy
Need to know:Lifting total reward off the page and making it meaningful is an ongoing challenge for reward managers.A total reward strategy is a great way to attract and retain a talented workforce. But it is important to make sure that all benefits are included.When employees understand the value of ...
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AnalysisInfographic: Reasons employees feel ashamed of the organisation they work for
Infographic looking at the reasons employees feel ashamed of the organisation they work for, or have worked for (Source: Public Relations Consultants Association and Opinium research, published in June 2015).Read more in How do benefits impact an organisation's reputation?
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AnalysisInfographic: How benefits choices differ across generations
An infographic looking at how benefits choices differ across generations (Source: Aon Employee Benefits' Employee reward and benefits for multi-generational workforces report, September 2015).Read more about how to create a benefits strategy for an 'ageless' workforce.
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AnalysisInfographic: What is included in employers' total reward statements?
An infographic outlining what is included in employers' total reward statements. (Source: Aon's Employee benefits and trends survey, November 2015)Read more about how to make total reward statements relevant to staff.
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AnalysisHow to make total reward statements relevant to staff
Need to know:There are many ways of positioning total reward statements (TRS) for maximum engagement but, for this to succeed, they must be embedded in all employee-related aspects of the business.Timely presentation of a well-developed and detailed TRS can be an effective driver of retention, particularly when employees are considering ...
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AnalysisAre employers returning to a paternalistic benefits approach?
If you read nothing else, read this...The traditional paternalistic benefits approach, which is based upon employees staying in a job for life, is considered to be expensive and outdated.Benefits strategies have moved towards the approach of offering employees choice and control over their own benefits package.The new paternalism landscape empowers ...
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AnalysisThe role reward plays in creating a destination employer
If you read nothing else, read this …The ability to attract, retain and hire talented employees helps create a destination employer.Reward packages play a role in all three stages.Reward and benefits strategies must be engaged at an early stage of an employee’s lifecycle, such as onboarding, to help motivate staff.It ...