Analysis – Page 5
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AnalysisHow is ESG changing the future of employee benefits?
Need to know:Environmental, social and governance (ESG) issues are influencing employee benefit design through the emergence of new benefits and the repositioning of existing ones to highlight their ESG-related characteristics.The use of online apps that provide insight into how pension funds are invested help provide feedback to employers on what ...
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AnalysisHow will the future of work affect the wellbeing and engagement of employees?
Employers will need to ensure they are focusing on wellbeing and redefining the employee experience so that workers can thrive.The pandemic has shown that working models can change overnight, making it essential that employers tailor their wellbeing initiatives to their employees’ evolving needs.Organisation-wide corporate social responsibility (CSR) initiatives can offer ...
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AnalysisHow can employers ensure reward and benefits enhance the employee experience?
Need to know:More flexible working hours, agile/home working and better support for mental health are the top employee expectations.Organisations should consider more flexible options including part-time hours term-time work, career breaks and four day working weeks to support their talent management strategy.Reward and benefits can be used to demonstrate an ...
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AnalysisHow to refresh a reward strategy to align with business goals
Need to know:Employers need to ensure that their reward strategy not only helps to attact, recruit and engage employees, but also reflects the values and goals of the business.Analysing data sets within the organisation can present gaps in benefits provision.Surveys, focus groups and job and exit interviews are useful methods ...
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AnalysisWhat support can employers offer for staff going through gender transition?
Employers can help by constructing a manageable timeline of changes they may want to implement, such as changing names or pronouns at work.Employers may want to look at how a transitioning employee would like their transition to be communicated to other staff.Ultimately by having effective and meaningful wellbeing support in ...
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AnalysisHow can employers improve staff motivation going into the new year?
A key challenge for businesses next year is to ensure that their messaging around culture, purpose and values is not only aligned, but reflected in the employee experience through benefits, reward, recognition and development.By understanding employees’ differences, employers can provide more genuinely rewarding incentives for individuals to work towards.Surveys and ...
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AnalysisHow will the 'Great Resignation' change employees' attitudes to employee benefits?
Need to know:The 'Great Resignation' is underway, forcing employers to work even harder to attract and retain staff.Pay is one way but employee benefits and reward packages are another major focus.Flexible working, mental health and social value are all in demand but some are questioning the use of more ‘gimmicky’ ...
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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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AnalysisWhat are employees looking for in the employee experience of the future?
A better employee experience, one that considers the whole person who comes to work every day, is the way employers will beat the competition.Pay and benefits are an important combination. In isolation they will always motivate, but together an employer can craft a unique and compelling proposition that brings the ...
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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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AnalysisHow can employer build a formal diversity, equity and inclusion (DE&I) framework?
Need to know:A diversity, equity and inclusion (DE&I) framework should start by looking at the organisation’s overall mission and identifying its key objectives.It can assess how any initiatives and benefits schemes it offers can best support the framework. A DE&I framework should be reflected in all areas of an employer’s ...
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AnalysisWhat are the most effective ways of addressing pay gaps?
Need to know:A culture of transparency and a commitment to reporting all pay gaps within the organisation is a first step to tackling them.Sharing an action plan of next steps, for example, organisation-wide salary reviews and providing access to all pay data, builds on that transparency.The disaggregation of data will ...
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AnalysisHow can reward and benefits drive an employer’s diversity, equity and inclusion agenda?
Need to know:Reward and benefits can help organisations achieve their diversity, equity and inclusivity (DE&I) goals.Organisations should start by reviewing existing arrangements to make sure they are not discriminatory.Benefits such as recognition schemes and financial education can also have an impact.The issue of diversity, equity and inclusivity (DE&I) has shot ...
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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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AnalysisWhat employee engagement lessons can the UK learn from across the globe?
To engage the employees they lead, managers themselves need to feel engaged, otherwise it will prove difficult to sustain high levels of team engagement.Gaining advantage through employee engagement involves challenging previously held assumptions and accepting that employees want to show up to work for reasons beyond salary alone.Find ways to ...
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AnalysisHow has the hybrid working trend impacted benefit and reward strategies?
Need to know:The future of work is likely to be made up of a mix of office and home working.This is having an impact on what benefits employers offer.How employers communicate with staff will also need to change in a hybrid model.The potential for most employees to work from home ...
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AnalysisCould an economic pick-up lead to a new benefits approach that retains and engages staff?
Need to know:The UK economy is growing strongly, causing concern about staff retention.Benefits around company culture, flexible working, health and choice are likely to be in demand.There are some quick wins that could help make an immediate impact.News that the UK economy grew by a stronger-than-expected 2.1% in March, coupled ...
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AnalysisHow can employers link carbon-neutral goals with their reward strategy?
Need to know:Organisations are under pressure to reduce their carbon footprints and employee benefits can help with this.Ensuring pension funds are invested in environmentally-friendly businesses is a good place to start, while executives can be rewarded on similar metrics.The use of green reward schemes and encouraging greener forms of travel ...
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AnalysisWhat employee engagement challenges do employers face in 2021 and beyond?
Need to know:The sudden transition to home working in 2020 meant employers had to focus on more frequent engagement and connection with employees, showing empathy and care, and working to create the right employee experience.This will continue into 2021 but as, hopefully, workplaces eventually open back up there may be ...
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AnalysisHow can employers build a culture that provides the experience employees want?
Need to know:The pandemic has pushed health and wellbeing, home working support and greater flexibility up employees’ benefits wish lists.Benefits can bring an organisation’s values to life by demonstrating that they are more than a tick-box exercise.Communicating benefits and how they feed into an organisation’s culture will drive take-up and ...