All Financial wellbeing articles – Page 21
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Supplier articleTop 10 pension mistakes individuals could make as they approach retirement
Most of us spend the majority of our working life saving into our pension. However, all this hard work saving can quickly unravel for those who aren’t aware of common pension mistakes.WEALTH at work outlines below the top 10 pension mistakes individuals could make, to highlight what employees facing retirement ...
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ArticleAldi increases employee pay to at least £12 an hour
Supermarket chain Aldi is to increase pay for its 40,000 store and warehouse employees to at least £12 an hour nationally and £13.55 within the M25, from 1 February 2024.Pay rates will rise further for store assistants to £12.95 nationally and £13.85 within the M25 based on employees’ length of ...
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Supplier articleWhy workplace benefits and savings are an essential workplace offering
Workplace benefits and savings are more vital than ever as the number of employers offering pay rises, in line or above inflation, is set to reduce. Financial Wellbeing Research 2023, from the Reward & Employee Benefits Association (REBA) in association with WEALTH at work[1], reveals that only 19% of employers ...
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Supplier articleBreaking financial taboos with Vodafone
Vodafone prioritizes the financial wellbeing of its employees, by demonstrating a strong commitment to their overall financial health. They were highly commended for the Biggest Impact on Financial Health category at the Financial Wellbeing Impact Awards 2023. Vodafone’s dedicated team has taken on the mission of providing ...
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ArticleScottish Water employees accept 8% pay rise
Credit: Peter Titmuss / Shutterstock.comA total of 500 Scottish Water employees have accepted an 8% basic pay increase following ongoing strike action.The pay deal, which was negotiated by three trade unions, was backed by 98% Unite members in a consultative ballot, with the increase due to be applied to all ...
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Supplier articleRetirement support in the workplace is growing
Employers are viewing the ageing workforce as increasingly important, according to the new Financial Wellbeing Research 2023[1] from the Reward & Employee Benefits Association (REBA) in association with WEALTH at work.It found that over a quarter (29%) of employers cite an ageing workforce as a driver of change to their ...
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ArticleIkea awards pay increases and year-end bonuses to UK staff
Retailer Ikea has awarded its UK employees with pay increases that reflect the cost of living, as well as year-end bonuses based on the last year’s performance in a more than £35 million investment.Hourly-paid staff will receive a 10% pay increase in 2024, while salaried workers will see a rise ...
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Article53% of British employees would switch jobs for better benefits
More than half (53%) of British employees would switch jobs and take the same role elsewhere for better benefits, according to research by emplyee benefits consultancy PIB Employee Benefits.Its Mind the gap survey, in collaboration with YouGov, which surveyed 1,000 employees, highlighted a link between employee benefits and staff retention, ...
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Supplier article8 reasons why education motivates benefit utilization
Benefit education plays a crucial role in improving the utilization of benefits, whether those benefits are related to finances, healthcare, social programs or otherwise, there are several reasons why education is instrumental in motivating global benefit utilization. The truth is benefits uptake is an ongoing challenge for ...
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ArticleThe top 10 most-read articles between 24 - 30 November 2023
The top 10 most-read articles on employeebenefits.co.uk between 24 - 30 November 2023 were: Apple, Microsoft and UKG named World’s Best Companies of 2023Cumberland Building Society launches neurodiversity toolkitBoots completes £4.8 billion pension scheme buy-inFoster Denovo Group acquires benefits arm of Punter Southall AspireShell UK reports -31.4% to 38.9% mean ...
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ArticleBlack, African, Caribbean or Black British staff earned less than White employees in 2022
Black, African, Caribbean or Black British UK employees earned less than White employees in 2022, with medians of £13.53 and £14.35 per hour respectively, according to new research by the Office for National Statistics (ONS).After using personal and work characteristics to provide an adjusted pay gap based on a like-for-like ...
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Supplier articleConnecting Meta’s financial futures with nudge.
Introduction: Meta LATAM, like many global organizations, noticed that their employees were experiencing increasing levels of financial anxiety. The team became aware of more requests for financial education guidance given that the external economic environment was increasingly turbulent. The challenge: Despite the extensive and diverse portfolio of ...
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Case StudiesPodcast: Northwood Hygiene Products focuses on staff wellbeing
Employee Benefits · Northwood Hygiene Products podcastListen: Manufacturing, supply chain and transportation firm Northwood Hygiene Products has more than 800 employees working in various locations across the UK in diverse job roles.In this episode of the Employee Benefits podcast, HR director Dawn Roberts discusses how the organisation supports the wellbeing ...
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Article53% of employers do not think the living pension meets basic retirement needs
Employee Benefits poll: More than half (53%) of organisations do not think the living pension goes far enough to support employees in building a pension pot that meets basic retirement needs, according to a survey of Employee Benefits readers.One-third (33%) said they did think the living pension goes far enough ...
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ArticleIAG Loyalty launches financial wellbeing support for staff
Customer loyalty programme provider IAG Loyalty has introduced new financial wellbeing support for its more than 600 employees?as part of a drive to expand wellbeing assistance.Provided by AI-powered household money-saving tool Nous.co, the support is offered to IAG Loyalty employees through a subscription. The platform manages services including energy, mortgages, ...
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Supplier articleThe UK Chancellor of the Exchequer, Jeremy Hunt, delivered the government’s Autumn Statement 2023 on 22 November.
Importance of understanding the implications for businesses and individuals Being informed about the UK budget helps people make informed financial decisions, adapt to changes in the economy, and proactively manage both personal finances in response to government policies and priorities. Overview of theme of the budget: avoid ...
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ArticleMaths, Business and PE GCSEs result in higher lifetime earnings
Something for the weekend: We often hear of the impact higher education qualifications can have on earnings potential, but it appears that selecting certain GCSE subjects could also give salaries a boost in later life, according to research by online tutoring service Tutor House.Its analysis of the Office for National ...
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ArticleInverclyde Council awards staff pay rise
Inverclyde Council has announced that the majority of its 4,000 members of staff will receive a pay rise before Christmas.The council will implement a pay increase agreed by the Convention of Scottish Local Authorities (COSLA) leaders earlier this month. The increase is part of a revised pay offer from COSLA ...
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ArticleAutumn Statement: National insurance contribution rate cut to 10%
Class 1 national insurance contributions (NICs) will be cut to 10% from 6 January 2024.Currently, employees pay 12% NICs on earnings above £12,570, and 2% on earnings above £50,270. From next year, employees will pay 10% and 2% respectively. According to the government, which announced the move in the Autumn ...
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ArticleAutumn Statement: Government announces plans to offer pension pot for life
Chancellor of the Exchequer Jeremy Hunt has announced plans to offer a pension pot for life in the Autumn Statement 2023.This will give employees a legal right to require a new employer to pay pension contributions into their existing pot, avoiding the accumulation of multiple pension pots throughout their working ...