All Financial wellbeing articles – Page 104
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ArticleEXCLUSIVE: UK Power Networks to launch online financial education programme
EXCLUSIVE: Electricity supply organisation UK Power Networks to launch an online financial education programme for its 5,700 UK-based employees.The new programme, provided by Nudge, will be introduced to staff in August 2017 as part of the organisation’s wider employee wellbeing strategy. The programme will involve personalised emails or text messages ...
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ArticleLorica relaunches in the employee benefits market
Corporate wealth management organisation Lorica has re-entered the employee benefits market to offer financial wellbeing and pension support services to employers.The organisation, which sold its employee benefits business to consultancy Aon in 2014, launched its new benefits proposition on 1 June 2017. Lorica continued to operate as a wealth management ...
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AnalysisHow to help employees strike the right savings balance
Need to know:Employers recognise that a one-size-fits-all approach to financial education is not as effective as individualisation.Employees face different financial pressures at different life stages, but these change through an individual’s working life.There are a variety of workplace savings schemes that employers can provide to help employees save in the ...
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Analysis
Infographic: What workplace savings benefits do employers offer?
An infographic outlining the top five workplace savings benefits offered by employer respondents and the basis on which they are offered. (Source: Employee Benefits/Staffcare Benefits research 2017, published in May 2017.)Read more in How to help employees strike the right savings balance.!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","//e.infogram.com/js/dist/embed-loader-min.js");
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ArticleStarbucks UK enhances rental deposit loan scheme
Coffee organisation Starbucks has enhanced its rental deposit loan scheme for UK employees, enabling more staff to gain access to the benefit.The Home Sweet Loan scheme, which launched in September 2015, provides eligible employees with an interest-free loan, up to the value of a month’s salary, to cover the costs ...
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ArticleDebbie Lovewell-Tuck: The new world of financial wellness
As our inaugural Financial Wellness Week, in association with Neyber, draws to a close, it’s time to reflect on the trends and issues currently driving this area of the benefits market.The importance of financial wellness on the corporate agenda was cemented last week with the appointment of Guy Opperman as ...
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ArticleFinancial wellness in numbers
A round-up of some of the key facts and figures relating to financial wellness in the workplace:!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","//e.infogr.am/js/dist/embed-loader-min.js");
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OpinionJoanna Bean: Improving financial wellbeing at Samsung
Saving for retirement, or life after work as we call it at Samsung, is an important part of our approach to financial wellbeing and we incorporate this into everyday life and within our varied communications portfolio. It is important to talk to employees at every stage of their work-life journey ...
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OpinionMargaret May and Edward Brunsdon: Unravelling workplace financial wellbeing services
Over the past decade, increasing numbers of working-age people across the UK have found it hard to make ends meet. Economic austerity, welfare state retrenchment and depressed wages along with increased domestic and accommodation costs have contributed to an erosion of savings, rising household debt, revolving credit card use and, ...
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ArticleEXCLUSIVE: 26% run workplace financial education initiatives
EXCLUSIVE: Around a quarter (26%) of employer respondents have financial education initiatives in place, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that 32% are looking to implement financial education initiatives.While not directly comparable, 14% ...
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AnalysisHow does workforce mobility impact financial wellbeing?
Need to know:The workforce is becoming more nomadic. But any employee who changes address regularly can see their credit rating drop.Broader financial wellbeing issues can arise for employees that move jobs regularly, such as the risk of reduced pension contributions or not being able to access longer-term employee benefits.Employers can ...
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Case StudiesUK Power Networks counters employees’ financial struggles with benefits
UK Power Networks has just over 6,000 employees, including electricians and engineers who work across London and the east of England. The organisation’s employees cover affluent areas of London where even the country’s top earners struggle to get a foothold on the property ladder.It is an issue that Steve Remnant, ...
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OpinionJo Thresher: Tackle common money issues to support employees’ short- and long-term finances
The fact that there is not a job for life anymore means an inability to plan the very long term, which means employers now need to help employees think differently. A lack of financial awareness coupled with a more changeable work life means a significant impact on an employee’s short-, ...
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Analysis
Infographic: Employee borrowing versus employer perceptions
An infographic looking at where employees are borrowing and employers' perceptions of employee borrowing. (Source: Neyber’s The DNA of financial wellbeing 2017 report, published in May 2017).!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","//e.infogr.am/js/dist/embed-loader-min.js");
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AnalysisWhat impact do financial pressures have on employees' physical and mental health?
Need to know:Employees will have varying financial concerns depending on their life stage and personal circumstances.Financial pressures could lead to an increase in presenteeism; staff may feel unable to take time off, yet financial worries can prevent them from concentrating while at work.Creating a supportive workplace environment is vital for ...
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ArticleDebbie Lovewell-Tuck: Welcome to Financial Wellness Week
Welcome to Employee Benefits’ Financial Wellness Week in association with Neyber.The importance of financial wellness on the corporate agenda was cemented last week with the appointment of Guy Opperman as parliamentary under-secretary for pensions and financial inclusion at the Department for Work and Pensions (DWP). This position replaces that of ...
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Case StudiesLondon City Airport offers benefits to increase employees’ financial confidence
London City Airport implemented a suite of financial wellbeing benefits to broaden its approach to employee health and wellbeing, and support staff who are struggling with their finances.An internal research project, delivered in conjunction with Barclays in 2014, used focus group interviews and an engagement survey to find that 22% ...
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OpinionMonica Kalia: Overcoming the workplace disconnect on financial wellness
Nearly one in four employees think their employer does not care about their financial wellness. Yet three-quarters of employers believe that they do. Over half (56%) of employers think that they help their employees with their ability to manage money, but 39% of employees say that their workplace offers poor ...
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OpinionCatherine Rickard: How can employers support financially stressed employees?
A culture of ‘spend today, rather than save for tomorrow’ is affecting many employees’ wellbeing and productivity. Institute for Employment Studies (IES) and Chartered Institute of Personnel and Development (CIPD) research, the Employee financial wellbeing report, published in January 2017, confirmed this by showing that one in four employees report ...
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OpinionPolly Mackenzie: Addressing money worries at work
Imagine trying to concentrate at work when you know the bailiffs might be round at your house while you are out, and that when you check your phone at the end of the shift there will be 20 missed calls from debt collectors. I know I could not focus on ...