Analysis – Page 4
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AnalysisWhat support can be given to employees going through difficult financial times?
Need to know: The Covid-19 pandemic has placed many employees in difficult financial situations.Employers must break the stigma of financial wellbeing to communicate with their employees.Financial education and tools can support employees who are struggling with finances during this time.The Covid-19 (Coronavirus) pandemic has created an unprecedented amount of financial ...
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AnalysisWhere do the parameters of employers' responsibility to wellbeing lie?
Need to know: We live in a very open age, but employers must still tread carefully when it comes to employees’ personal lives.Physical, mental and financial wellbeing is all-important to employees' productivity and they will be looking to employers to help in the midst of the Covid-19 (Coronavirus) pandemic.Employers ...
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AnalysisHow can employers reposition benefits to offer financial wellbeing support to staff?
Need to know:Introducing financial education can drastically improve financial wellbeingReinventing benefits to offer financial support can aid employees with financial constraintsFinancial benefits need to be communicated in the right way to increase the chances of effectivenessThe financial wellbeing of employees has become a key priority for many employers. A study ...
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AnalysisHow can employers support the unseen issues in financial wellbeing?
Need to know: A wide range of financial issues that many employees struggle with often go unnoticed at work. Employers must find a way to tackle the taboo of discussing financial issues among their workforce if they are to understand the needs of employees. Employee surveys and constant ...
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AnalysisFestive trends: The new year in numbers
!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async");Read more...New year’s resolutions: How to ensure a strong start to 2020Karen Thomson: Fostering diversity and inclusion in the year ahead
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AnalysisKey dates to incorporate into 2020 benefits strategy
Need to know:There are many awareness days that can be used as a framework for benefits strategy. Rather than choosing dates to focus on, though, employers should determine the important values for the business first.April 2020 will see key legislative changes that employers should also consider and prepare for.Some dates ...
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AnalysisAre employers entering a new era of pay strategies?
Need to know:Where workplace loans and savings vehicles help to reduce high-interest lending, flexible paydays and wage streaming can aid employees with their day-to-day finances.Concerns about increased frivolous spending should be heeded, but if implemented correctly, alternative pay strategies can, in fact, help promote positive behaviours.Employers should be wary of ...
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AnalysisHow to align pensions provisions with a wider benefits strategy
Need to know:Pensions should be positioned as a vital part of an overarching benefits package, rather than a separate and often distant concern.Employers should package pensions within a wider financial planning provision, promoting it alongside a range of other benefits that can help employees with short- and long-term stability.Focusing on ...
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AnalysisHow to create an employer brand fit for the modern workforce
Need to know:As both competition and transparency increase, employers would do well to look at their brand values and how these fit with the expectations of the modern workforce.Flexbility, sustainability and opportunities to learn and grow are all increasingly important, particularly as employees continue to blend work and life.The positioning ...
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AnalysisEquipping staff: Financial education in numbers
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AnalysisHow should retirement information change for employees at different life stages?
Need to know:Employees of all ages need help saving for a financially stable later life, but the format and delivery will need to vary across different demographics.To engage younger staff, employers could consider repackaging concepts such as pension payments and retirement planning to feel more relevant.Throughout the 15 years leading ...
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AnalysisIs online education an effective means of supporting financial wellbeing?
Need to know:Financial education is a key tool in supporting the overall wellbeing of employees, but it must be delivered in a method that is engaging and relevant.While face-to-face presentations and seminars are still highly popular, online initiatives can reach a widely dispersed workforce with personalised information.Online methods help avoid ...
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AnalysisHow financial education can help employees make sense of their benefits
Need to knowFinancial education that helps employees understand topics like money management, debt consolidation and savings will be most effective when accompanied by relevant products for them to subsequently use.Pensions are a primary subject for many employers, but more immediate concerns should be taken into account to get staff to ...
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AnalysisHow to create a savings culture in the workplace
Need to know:Offering money management tools, and even numeracy workshops, can help employees get out of debt and build up to saving.Financial wellbeing strategies should address all employee needs, from everyday costs to long-term investments, as well as being part of a holistic approach to wellness.Without a strong foundation of ...
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AnalysisSavings stress: Financial wellness in numbers
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AnalysisTop tips on using workplace interventions to boost pensions engagement
Need to know: Workplace interventions can make pensions engaging, interesting and even fun for employees who might not have thought about them previously.Combining group and one-to-one sessions, as well as open dialogue with the audience, can ensure a wide range of employees are catered for.Marketing techniques, such as attention-grabbing events, ...
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AnalysisHow should financial wellbeing approaches change during an employee’s journey?
Need to know:A multi-generational workforce will have myriad financial challenges, including home ownership, childcare and retirement savings, so it is important that employers address these issues within a flexible approach to financial wellbeing.Financial goals and life stages may not be clearly delineated by age, and employers should avoid assumptions.Life events, ...
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AnalysisHow can employers tackle in-work poverty?
Need to know:Identifying employees struggling with in-work poverty is difficult, but offering universal solutions can ensure that financial wellbeing initiatives benefit all those in need.Simple measures, such as exploring how to best manage overtime or introducing flexible working, can help staff improve their finances more effectively.A financial wellbeing strategy that ...
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AnalysisTop tips on getting senior level buy-in for financial wellbeing initiatives
Need to know:Employers can create targeted financial wellbeing interventions specifically for senior leaders to enable them to experience the benefits first-hand.Data, such as absence rates and engagement scores, can offer tangible evidence to help present the business case.Linking mental health and financial wellbeing can help draw senior leaders’ attention to ...
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AnalysisHow could pensions dashboards influence engagement with employee contributions?
Need to know: The pensions dashboard, due to be launched in 2019, will facilitate better engagement, but will be most effective as part of a broader communications strategy that includes face-to-face methods.In the earlier stages, the biggest attraction of the dashboard will be for consumers to track down lost pensions ...