All Financial wellbeing articles – Page 2
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ArticleGender pay gap for full-time employees stands at 7%
The gender pay gap for full-time employees stands at 7%, down from 7.5% in 2023, according to the latest analysis by the Office for National Statistics (ONS). Its Annual survey of hours and earnings report found that among all employees, the gender pay gap decreased to 13.1% ...
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ArticleNational living wage to rise by 6.7% in April 2025
The government is to increase the national living wage by 6.7% from April 2025. Chancellor of the Exchequer Rachel Reeves has announced the rate will rise from £11.44 to £12.21 an hour, which will be worth £1,400 a year for an eligible full-time worker. It is part ...
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OpinionJames Townsend and Elizabeth Coyle: Dealing with equal pay tribunals
On 22 August 2024, an employment tribunal held that Next discriminated against more than 3,500 female store staff by paying them lower hourly wages than male warehouse operatives. Sales consultants received lower pay of up to £3 per hour, meaning their average annual salary differential was more ...
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ArticleExclusive: 4% of employees look to employer for financial support
Exclusive: Just 4% of employees would approach their employer for financial support, and most would rather rely on family, partners or Google, according to new research by financial wellbeing firm Bippit. The Inclusion Edition 2024, part of Bippit’s Dynamics in Financial Wellbeing research programme, found that a third (30%) of ...
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ArticleExclusive: Wolseley and The Big Word Group to discuss wellbeing at Employee Benefits Live 2024
Wolseley and The Big Word Group will present a session on financial, mental and physical wellbeing on the second day of Employee Benefits Live 2024. The session, titled The holy trinity of financial, mental and physical wellbeing panel, is part of the financial wellbeing stream and will ...
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ArticleJCDecaux and British Film institute implement home-heating perk for staff
Source: Shutterstock Employers JCDecaux and the British Film institute (BFI) have introduced a new home-heating benefit scheme for their employees. Provided by Heat Scheme, the benefit programme helps employees reduce their energy bills and carbon footprint. JCDecaux, the advertising firm, and the BFI can provide interest-free loans ...
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ArticleExclusive: Interlinking financial, mental and physical wellbeing can ensure support is well-rounded
Employee Benefits Live 2024: It is beneficial to ensure financial, mental and physical wellbeing are all interlinked in order for employers to offer a range of appropriate employee support, according to Wolseley and The Big Word Group. During a session titled The holy trinity of financial, mental and physical wellbeing ...
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ArticleMedian pay award remains at 4% for three months to August
The median pay increase across the economy remained at 4% in the three months to August 2024 after falling from 4.8% in June, according to the latest figures from Incomes Data Research (IDR).
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ArticleNEU teachers in England accept 5.5% pay rise
Teachers who are members of the National Education Union (NEU) in England have voted to accept the government’s pay award of 5.5%.
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Article59% of UK millennials struggle to save for retirement due to life stage
Six in 10 (59%) UK millennial employees have admitted that their current life stage means they struggle to save for retirement, compared to 48% of Gen Z and 39% of Gen X staff.
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ArticleBanyan Software introduces employee relief fund
Enterprise software firm Banyan Software has introduced an employee relief fund to its benefits package for employees who are going through extreme hardship. An employee is eligible for the fund if their primary residence is destroyed or unlivable due to a natural disaster, fire, or flood, and ...
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Article39% of British employees regret not saving into a pension
Almost two-fifths (39%) of British employees regret not saving into a pension, according to research by Shepherds Friendly. The financial services firm’s survey of 2,000 Brits on their knowledge of individual savings accounts (Isas), life insurance and general personal finance, also found that 38% of respondents regretted ...
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ArticleCardiff Capital Region receives living wage employer accreditation
Cardiff Capital Region has received real living wage employer accreditation from the Living Wage Foundation. The commitment will see every employee at the organisation receive a minimum hourly wage of £12. This is higher than the government minimum for people over the age of 21, which currently ...
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ArticleYodel adds financial support to benefits package
Parcel carrier Yodel has expanded its employee benefits package to include financial support.
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OpinionAnn Frances Cooney: Potential impact of the draft Equality (Race and Disability) Bill
The draft Equality (Race and Disability) Bill was announced in the King’s Speech in July. The new Labour government confirmed that the draft bill delivers its manifesto commitments to enshrine in law the full right to equal pay for ethnic minorities and disabled people, and to introduce ...
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ArticleDeskLodge accredited as real living wage employer
Co-working space business DeskLodge has become accredited as a living wage employer as part of a commitment to its workforce. The commitment will see every DeskLodge employee receive a minimum hourly wage of £12, which is higher than the government minimum for people over the age of ...
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Article49% of workers aged 50 and older are phasing into retirement
More than half (55%) of employees said a retirement plan is more important than ever as 49% of workers aged 50 and older have already started phasing into retirement, according to research by global advisory and broking firm Willis Towers Watson (WTW). Its 2024 Global benefits attitudes ...
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ArticleManchester City FC has biggest pay gap between football players and staff
Credit: shana espinoza / Shutterstock.com Something for the weekend: Analysis by KingCasinoBonus of Premier League football clubs has revealed the biggest pay gaps between players and staff, with Manchester City having the largest ratio at 237:1. The online casino comparison service analysed player and staff wages, including ...
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ArticleTrain drivers accept pay deal
Train drivers across England, Scotland and Wales have accepted a pay deal made by the Department for Transport, ending a two-year pay dispute. The employees are members of the Associated Society of Locomotive Engineers and Firemen (Aslef) union. They have taken part in strike action since 2022 ...
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ArticleSalutem Care and Education launches financial wellbeing benefits
Salutem Care and Education has introduced further financial wellbeing benefits for its employees to support their wellbeing. Its employees will now be able to access a workplace savings account with a 4.7% annual equivalent rate (AER), provided by financial benefits platform Wagestream. The account does not require ...