All articles by Clare Bettelley – Page 4
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OpinionStewart Allanson: Employers must prepare for the workforce revolution
New technologies and increasing mobility are revolutionising the workplace, with huge implications for employers.Not since the industrial revolution of the late 18th and early 19th century has there been such far-reaching change and now, just as then, there is tremendous opportunity mixed with unprecedented risk.Smartphones and devices are the biggest ...
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Case StudiesGoodman Masson looks for unique business cases
“A benefit must have a directly positive impact on the life of an employee, so that they are excited about coming to work, because they believe that their employer is looking after them, so they are engaged and so their performance increases and we prosper when they stay,” he explains.Hayward ...
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AnalysisHow to build a compelling business case for benefits
If you read nothing else, read this…A business pitch should take an average of four to six weeks to create and present.A compelling pitch will clearly outline the objectives that a benefits professional hopes to fulfil with the benefit they are proposing to implement.The focus of the pitch should be ...
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AnalysisTop tips for managing grey fleet
If you read nothing else, read this…Employers thinking about grey fleet need to consider the implications of breaching the Corporate Manslaughter and Corporate Homicide Act 2007.All organisations running company car schemes require a clear grey fleet policy.Employers can help to reduce their grey fleet risk by removing financial incentives, such ...
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ArticleBettelley's Brooding: The challenges of Fit for Work
The pensions market is a case in point, as an increasing number of employers have moved from defined benefit to defined contribution schemes for their workforces in a bid to share the associated costs and risks.Meanwhile, employers have been urged to support employee health and wellbeing through government public health ...
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OpinionClare Bettelley: Benefits market consolidation is long overdue
Two of the higher-profile deals saw insurance giant Aviva’s £5.6 billion takeover of Friends Life and Sodexo’s £41 million takeover of incentive and recognition provider Modivcom.For many benefits professionals, consolidation cannot come soon enough to help tackle market saturation, particularly in the healthcare arena.As Jackie Buttery, an independent benefits consultant, ...
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OpinionJonathan Watts-Lay: Three steps to greater pension flexibility
The 2014 Budget changed the face of retirement options for members of defined contribution (DC) pension schemes, with perhaps the most radical pension proposals of our lifetime.The changes will come into force from April 2015, removing many restrictions on how pension benefits can be taken from age 55.But as April ...
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Case StudiesSouthern Water creates benefits generalists to support the business
“Having staff with a broad understanding of reward rather than a narrow understanding of a specialist area is, in my view, a win-win [situation],” she says. “It is good for the employee because it gives them more choices in terms of career development; it is good for the organisation because ...
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AnalysisWhy employers are transforming specialist reward and pensions staff into benefits generalists
If you read nothing else, read this…Many employers are replacing benefits specialists with generalists.The shift from defined benefit to defined contribution pension schemes is a driving factor.Benefits professionals can broaden their knowledge base by attending conferences and networking with industry peers.Not only did the specialist fear the learning curve involved ...
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AnalysisFinancial education in numbers
52% of employers do not provide financial education for employees (Source: Secondsight, October 2014)55% of employers do not offer staff support at retirement (Source: Employee Benefits/Close Brothers Pensions research 2014, November 2014)43% of respondents say 90% or more of their employees are active pension scheme members (Source: Employee Benefits/Close ...
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AnalysisWhat does an effective financial education strategy look like?
If you read nothing else, read this… Employers must identify employees’ financial concerns.Financial education strategies should be based on employers’ existing benefits.Strategies must be ongoing to maintain their impact.The abolition of compulsory annuitisation for defined contribution (DC) pension scheme members could be challenging for employers that do not have any ...
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AnalysisTop tips for communicating a financial education strategy
If you read nothing else, read this…Financial education programmes must be integrated with organisations’ workforce planning strategies. Employers must consider their audience, because many young staff will have experienced financial education at school.Face-to-face learning can be highly effective. 1. Consider employees’ existing knowledgeMany young people will have experienced financial education ...
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AnalysisWhen will we see an increase in demand for workplace financial awareness?
There has been much speculation about how much money employees will take from their pension pots since the decision to scrap compulsory annuitisation was made in the 2014 Budget last March. The Chancellor announced that staff over the age of 55 with a defined contribution (DC) pension will be able ...
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Analysis
What are employers' primary concerns around April's pension reforms?
This 10-minute video above covers:Why the new pension reforms are driving the need for employee guidance Which pensions decisions staff struggle with the mostHow employers can support staff to overcome these challenges How employers can overcome any fears they have about straying into the realms of advice when attempting to ...
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OpinionAndrea Finney: Improving financial wellbeing
This is largely because of the global financial crisis of 2008, which has resulted in a sustained increase in the cost of living, coupled with a fall in real earnings.Increased diversity in financial services, constriction in consumer lending and a growing pensions crisis have also put new burdens on employees.We ...
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ArticleHow far should employers go in recommending financial advice?
In April 2015, the government will introduce the most radical pension changes in almost 100 years.From the age of 55, all staff will be able to access their entire defined contribution (DC) pension flexibly, whether taking it as a lump sum, buying an annuity, drawing down, or a combination of ...
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Case StudiesNew Year parties motivate staff at Ryman, Robert Dyas and Boux Avenue
The strategy is aligned to the retailers’ trading periods, which peak in December, making it difficult for staff to take time off.The organisations, which are owned by Theo Paphitis, one of the dragons in the BBC Two TV show Dragons’ Den , host two parties, one in London for between ...
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ArticleClare Bettelley: Employers should communicate holiday pay ruling to staff
Firstly, the ramifications of the ruling remain unclear. For example, should voluntary overtime be included in calculations? And exactly how far should employers backdate pay?Secondly, in light of these uncertainties, how can employers possibly calculate the likely impact of the ruling on their organisation? And so, thirdly, should employers start ...
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Case StudiesThe benefits offered by B&Q
After reviewing the benefits tnat it offers to staff, B&Q offers the following package for its workforce.PensionMoney purchase pension scheme (contributory) available to all staffEmployer contributions range from 2% to 14% and employee contributions range from 1% to over 8%.Health and wellbeingGroup life cover worth four-times salary for pension scheme ...
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Case StudiesB&Q keeps reward simple
Simplification has been at the heart of B&Q’s HR strategy over the past year as part of the organisation’s efforts to help staff understand and appreciate the value of their benefits and, ultimately, to boost take-up. The move is aligned with B&Q’s business objective to simplify its pricing model in ...