All Financial wellbeing articles – Page 102
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AnalysisWhat role do workplace loans play in a financial wellbeing strategy?
Need to know:A workplace loan scheme enables employees to access a loan through their employer’s benefits package, which they then repay through salary deductions from net pay.Workplace loans can be a useful tool to help employees develop savings habits, as once the loan is repaid, the salary deduction model can ...
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Case StudiesMitie used workplace loans to launch financial wellbeing strategy
Outsourced facilities management organisation Mitie introduced workplace loans for its 53,000 UK employees in order to kickstart its financial wellbeing strategy.Its workplace loan scheme, which was introduced in December 2017 and is provided by SalaryFinance, is aimed at helping Mitie to facilitate access to a practical financial benefit that enables ...
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OpinionCatherine Rickard: Student loan repayment help recognises employees' wider financial situations
Major changes associated with expanding higher education provision have increased the levels of debt held by millennials as they enter the labour market, as well as the number of people affected by such immediate debt.Projections have shown that graduates will be paying off student debt well into their 40s and ...
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ArticleEXCLUSIVE: Hear the future of financial wellbeing at Employee Benefits Connect 2018
EXCLUSIVE: Delegates at Employee Benefits Connect 2018 will be able to gain an insight into the future of financial wellbeing strategies.Monica Kalia (pictured), co-founder and director at Neyber, will present a session titled ‘The employer view on what the future of financial wellbeing looks like’ as part of the wellbeing ...
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ArticleDebbie Lovewell-Tuck: Maximising the effectiveness of financial wellbeing
As our Financial Wellbeing Week, in association with Wealth at Work, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.Over the past few years, we have seen employers’ approaches to supporting their employees almost go ...
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Case StudiesGVA uses online financial education as basis for financial wellbeing strategy
Commercial property organisation GVA began to create a non-invasive financial wellbeing strategy with the launch of an online financial education programme for its 1,500 UK employees based across its 11 national operating sites.It implemented its financial education programme, provided by Nudge, in November 2017 following the launch of its physical ...
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AnalysisHow can employers construct a non-invasive approach to support employees’ financial priorities?
Need to know:Employers should consider personalising the delivery and content of financial education to enable employees to take control of their own learning either at home or in the workplace.Technology, such as platforms that provide individuals with a full financial overview or financial education via WhatsApp, can empower employees to ...
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OpinionHelen Undy: How can employers help employees improve their financial resilience?
While employees might try their best to leave their problems at the door when coming to work, we all know it is not realistic. Employees are human beings; when under financial pressure, behind on bills or being contacted by creditors, they underperform at work and their mental health can be ...
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Case StudiesUK Power Networks uses benefits to switch on employee engagement
For those that work or live in the south east of England, a UK Power Network van and engineer is a familiar sight. With 6,000 employees that help power homes and businesses across East Anglia, London and the south east of England, the electrical network operator distributes around 27% of ...
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Supplier article
The Autumn Budget 2017 Client Briefing
The Autumn Budget laid out on 22 November 2017 by the Chancellor, Phillip Hammond, was positioned as supporting Britain’s need to prepare ‘to meet the challenges ahead’, driving for ‘a dynamic and innovative economy’. Within the context of the Office for Budget Responsibility’s downgrades in productivity assumptions and cuts to ...
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ArticleEXCLUSIVE: SSE launches online financial education programme
EXCLUSIVE: Energy organisation SSE has launched an online financial education programme for 20,000 employees based across 150 UK operating sites.The financial education programme, which launched on 23 January 2018, forms part of the organisation’s wider focus on wellness. This approach aims to help employees’ improve their overall health and wellbeing.The ...
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Article28% provide financial education to ensure employees understand their workplace benefits
More than a quarter (28%) of employer respondents provide a financial education programme to ensure employees understand and make the most of their workplace benefits, according to research by Close Brothers and the Pension and Lifetime Savings Association (PLSA).Its Lifetime savings challenge report, which surveyed 1,000 employers with 200 or ...
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Article66% predict borrowing and debt management as main financial wellness driver for 2018
Two-thirds (66%) of employer respondents predict that borrowing and managing debt will be the main financial wellness driver for 2018, according to research by Nudge.Its The financial wellness playbook 2018 report, which surveyed 205 UK employers, representing a total of 1,516,733 employees, also found that 92% of respondents believe that ...
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Supplier article
Don't sacrifice salary sacrifice benefits
If 2018 marks the launch or review of your employee benefits scheme, getting the right line-up of benefits and discounts is likely to be high on your list of priorities. There's more choice than ever before so what makes it into your scheme and how do you decide what to ...
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Supplier article
WEALTH at work assesses the Scottish Budget 2017
The Scottish Government has set out its spending and taxation plans for 2018 in its annual budget. Please see some of the proposed changes to income tax below;Scottish BandsBand nameScottish Rates (%)Over £11,850* – £13,850Starter19Over £13,850 – £24,000Basic20Over £24,000 – £44,273Intermediate21Over £44,273 – £150,000**Higher41Above £150,000**Top46*Assumes individuals are in receipt of ...
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Supplier articleDo employers have a duty to support their employees’ financial wellness?
By David Dodd, Consulting DirectorOur latest Employee Benefits Watch research uncovered that UK employers are struggling to keep up with employee demand for financial wellness support. This is particularly poignant in light of the Organisation for Economic Co-operation and Development (OECD) issuing a warning over increasing household debt in the ...
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Supplier article
WEALTH at work listed as one of the 5000 fastest-growing private companies in Europe
WEALTH at work, a leading provider of financial education, guidance and advice in the workplace has been listed as one of the fastest-growing private companies in Europe.The annual list by Inc. 5000 Europe recognises the private companies with the fastest-growing revenues over a three year period.Jonathan Watts-Lay, Director, WEALTH at ...
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Supplier articleIs financial wellness here to stay?
Thomsons Online Benefits’ latest research has shown that the adoption of financial wellness programmes in UK workplaces is falling short, despite there being an increased demand from employees. Download Thomsons’ latest infographic to find out how employers are starting to listen to the needs of their employees, how financial education ...
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OpinionRosemary Lemon: What does 2018 hold for employee benefits?
Life is getting hard and it looks like getting tougher in 2018 as we struggle with the potential impact of Brexit, increasing cost of living and the ever expensive property market. Recent press coverage has highlighted the escalating use of food banks and the fact that, as Christmas approaches, some ...
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Supplier articleExpectations vs reality: the widening gap in global benefits
Thomsons’ latest Global Employee Benefits Watch 2017/18 research has uncovered that employees' needs and expectations of benefits are not being met by multinational organisations.This whitepaper explores the results from Thomsons' survey of over 2,000 employees, providing HR and reward professionals with never before seen insight on:Which life goals are important ...