Analysis – Page 9
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AnalysisWhat are the key considerations of offering anytime flexible benefits enrolment?
Need to know:Flexible benefits schemes have been moving towards anytime enrolment windows over the past few years to give employees more flexibility in accessing their benefits.Certain benefits, such as private medical insurance and group risk benefits, must have fixed annual enrolment periods due to arrangements with insurance providers.Anytime enrolment offers ...
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AnalysisFive top tips to maximise voluntary benefits take-up
Need to know:Offer deals that deliver valued savings to employees, and which are not available at a better rate elsewhere.Create a year-round communications plan to promote benefits at the times when they are likely to be most relevant to staff.Provide a broad range of voluntary benefits to appeal to different ...
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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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AnalysisHow can employers use technology to engage employees with their health and wellbeing?
Need to know:The use of technology is helping employers to engage staff in health and wellbeing initiatives.Wearables can help track an individual’s health as well as their activity.Other apps can help offer advice around wellbeing, and access to medical support.Technology is playing an increasingly prominent role in helping employers to ...
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AnalysisHow is technology changing approaches to measuring employee engagement?
Need to know: Technology has enabled organisations to conduct engagement surveys on a more frequent basis.Apps and mobile-enabled websites allow employers to engage with non-desk-based employees.Real-time analysis and the ability to gather insights through technology can help employers to target specific engagement issues.Employee engagement may have come to be seen ...
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AnalysisHow to ensure a flexible benefits scheme is truly flexible
Need to know:Online platforms and portals allow employees to access their benefits offering wherever they like for easy access.Any-time enrolment allows employees to adjust their benefits selection to keep pace with lifestyle changes.Trading benefits up or down ensures employees’ selections can be tailored to reflect their individual circumstances.Today’s always-on consumerist ...
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AnalysisHow can gamification be utilised in a benefits communication strategy?
Need to knowGamification is not necessarily just about playing games; it is all about using game principles, such as competition, to engage with employees.It can be used as a tool to educate a workforce about pensions, health and wealth.Gamification also includes wearable technology.Employers can use gaming to communicate with their ...
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AnalysisWhat role does robo-advice play in a financial education strategy?
Need to know:The Financial Conduct Authority (FCA) estimates that there are 16 million people in the ‘advice gap’: those that need financial advice but cannot afford it.While the retail distribution review (RDR) made the advice charging process more transparent, it also made it more expensive by raising standards.Robo-advice is seen ...
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AnalysisInfographic: How are employers improving employee engagement with benefits?
An infographic looking at the measures employer respondents are taking to improve employee engagement with benefits (Source: Employee Benefits/Xerox HR Services Benefits research 2016, published in June 2016).Read more in How communication can drive benefits take-up
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AnalysisHow can technology be used in workplace pension schemes?
Need to know:The pensions freedoms mean there is more need for employers to facilitate online access to pensions.Modellers and apps are helping people map out potential retirement options.Robo-advice is providing tailored guidance to employees without the need for a financial adviser.Some platforms can link with other pension pots, personal savings ...
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AnalysisAre apps increasing the take-up of voluntary benefits?
Need to know:The convenience and functionalities apps bring provide an opportunity to boost employee engagement with voluntary benefits.Good user experience and compelling content can ensure repeated use of an app.For maximum effect, mobile offerings should be strategically integrated into employers’ benefit programmes.In 2015, smartphones surpassed laptops as the most popular ...
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AnalysisBuyer’s guide to flexible benefits technology
What is flexible benefits technology?This is a technology system, operating in-house or from cloud-based servers, that provides a platform to deliver a flexible benefits scheme. Increasingly, systems are designed to interface with other elements of benefits and reward, including pensions, and often have interactive and data-modelling tools that can be ...
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AnalysisGetting the balance right in a technology-dominated world
Need to know:An employer could draw up technology etiquette covering areas such as the time emails can be sent and when employees can log on to help create a healthy work-life balance.Employers could use a variety of communication methods, including more traditional presentations, desk drops and brochures alongside benefits portals ...
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AnalysisInfographic: How does technology influence working hours?
An infographic outlining the influence of technology on employees' working hours. (Source: Chartered Management Institute's The quality of working life report, January 2016).Read more about getting the balance right in a technology-dominated world.
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AnalysisHow could gamification be used to support a financial education strategy?
Need to know:Gamification provides an additional channel through which staff can learn about financial matters.Introducing gamification into a financial education programme could help to increase employee engagement with financial wellness, particularly among younger staff.Embracing digital game elements that can be accessed on a number of devices can tap into the ...
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AnalysisInfographic: The reach of gaming across age groups
An infographic outlining gaming habits across age groups (Source: ISFE/Ipsos Connect’s GameTrack Digest: Quarter 2 2015, published in September 2015).Read more about how employers can use gamification to support a financial education strategy.
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AnalysisFive predictions for employee benefits in 2016
Need to know:April 2015’s pension freedoms have formed a gap in the market for bespoke pensions.Increasing pressure to publish pay data may lead to more employers doing so voluntarily.Technology and staff-driven benefits are likely to increase in popularity.Through 2016 and beyond, employee benefits will evolve as staff wants and needs ...
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AnalysisHow integrated to the workplace should an employee’s finances be?
If you read nothing else, read this…Workplace savings platforms allow employees to bring together their financial products to give them an overview and insight into their wealth.While some platforms offer access to a range of savings and investment products, others allow employees to pull together different products, including current accounts, ...
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AnalysisHow does the benefits app market compare with consumer apps?
If you read nothing else, read this…Mobile apps can provide employees with access to benefits wherever and whenever the need arises.Apps can complement traditional benefits communication and tap into the changing ways in which staff consume information.The increasing use of smartphones and the growing familiarity with digital technology in the ...
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AnalysisHow to win employee buy-in for pension scheme change
If you read nothing else read this…Pension schemes invariably face constant change, including the move from defined benefit to defined contribution schemes.Communications are key to winning buy-in from employees.Pensions change could also be the catalyst for improving the financial education of employees.Employers only have to look at the likes of ...