All Financial wellbeing articles – Page 23
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Article
Median monthly pay up 7.8% year-on-year
Median monthly pay for July 2023 has been estimated at £2,274, a 7.8% increase from July 2022 and the highest rate since 2001, according to data from the Office for National Statistics (ONS).Its latest labour market figures revealed that this was a decrease from £2,308 in June 2023, which was ...
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Article
30% of staff prefer CDC pension for decumulation over an annuity or drawdown
Almost one-third (30%) of UK defined contribution (DC) savers said they prefer a collective defined contribution (CDC) pension for a decumulation option at retirement instead of an annuity or drawdown, according to new research.Global professional services firm Aon and financial services provider Aegon’s new whitepaper Collective DC decumulation – is ...
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Supplier article
Each Person Announces the Relaunch of their Diesel Card
Each Person Helps People Save More on Diesel by Relaunching theDiesel Card Across the UK and Northern Ireland! Due to the success of the Diesel Card, Each Person has taken the time to increase the benefits and is ready to relaunch in August. A number of new ...
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Article
Scottish Opera and Royal College of Physicians and Surgeons of Glasgow launch financial wellbeing support
Credit: TreasureGalore / Shutterstock.comScottish Opera and the Royal College of Physicians and Surgeons of Glasgow have introduced a financial wellbeing scheme in order to support their workforces.The two Glasgow-based employers have a combined total of more than 350 employees. Provided by Glasgow Credit Union, its Employer Partner scheme offers staff ...
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Article
The Watches of Switzerland Group accredited as living wage employer
Credit: T. Schneider / Shutterstock.comThe Watches of Switzerland Group has been accredited as a real living wage employer by the Living Wage Foundation.As a result of this commitment, every Watches of Switzerland Group employee will receive a minimum hourly wage of £11.95 for those based in London and £10.90 for ...
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Article
Exclusive: A fifth of employees worry about money every day
More than a fifth (22%) of employees worry about money every day, according to research by financial wellbeing organisation Bippit.Its report, The stigma edition 2023, which surveyed 5,000 UK employees and 660 senior HR professionals, also found that more than a third (36%) of employees do not like talking to ...
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Case Studies
Oxford University Hospitals deploys multiple methods to communicate financial support
In order to effectively communicate financial wellbeing support to its wide range of employees, UK NHS teaching trust Oxford University Hospitals uses a variety of methods to suit their needs and preferences.The trust is made up of four hospitals: the John Radcliffe Hospital, the Churchill Hospital, the Nuffield Orthopaedic Centre, ...
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Analysis
How to target financial wellbeing support to employees
Employers can offer financial wellbeing support based on which benefits are most frequently used, which will highlight prevalent financial issues among employees.As employers often have wide-ranging demographics that have varying preferences and needs, different communication methods will be required for each group.Tailored benefits that are personalised to employees’ needs offer ...
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Case Studies
University of Salford targets communications at specific employee groups
Credit: Richard Oldroyd / Shutterstock.comThe University of Salford ensures it provides comprehensive financial wellbeing support and education that is targeted at all different groups of employees.Based in Greater Manchester and with 3,000 employees, the university was a runner up in the Best financial wellbeing strategy at this year’s Employee Benefits ...
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Supplier article
SUPPORTING NEW PARENTS: REGULATIONS & SAVINGS
EMPLOYEE EXPERIENCE SERIES: SUPPORTING NEW PARENTS: REGULATIONS & SAVINGS In our second blog dedicated to supporting parents in the workplace, we cover some statutory regulations supporting working parents. Detailing the costs parents face, we also explore how they can use their employee benefits to save money on ...
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Analysis
Benefits for graduates
Research has shown that graduates value a good work-life balance and development opportunities when entering the workforce.The Covid-19 pandemic and cost-of-living crisis have meant that graduates are also looking for wellbeing and financial benefits.Being aware of available support and inclusive benefits can be attractive even if graduates are unlikely to ...
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Article
Gretna Green accredited as living wage employer
Credit: chrisdorney / Shutterstock.comWedding venue and events business Gretna Green has received living wage employer accreditation from Living Wage Scotland.As part of its living wage commitment, all Gretna Green employees will receive a minimum hourly wage of £11 per hour. This is above the UK’s living wage requirement of £10.90, ...
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Article
West End and UK theatre directors win pay rises
Theatre directors in the West End and across the UK have won pay rises as part of a four-year agreement following a financial claim submission earlier this year.West End directors will receive an immediate 10% increase to minimum rates, while those in the commercial and subsidised sector across the UK ...
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Article
Cawleys receives living wage employer accreditation
Credit: Peter_Fleming / Shutterstock.comWaste management business Cawleys has received living wage employer accreditation as part of a recognition of its investment in staff and commitment to fair pay.As part of this accreditation, every Cawley employee will receive a minimum hourly wage of £10.90. This is higher than the government minimum ...
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Article
North Yorkshire Council awards staff £1,925 pay rise
Credit: Chedko / Shutterstock.comNorth Yorkshire Council is to give all of its more than 15,000-strong workforce a £1,925 pay rise as of this month.On average, the increase equates to a 6.35% pay boost for council staff in roles such as town planners, refuse collectors, social workers and engineers. The deal, ...
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Article
Male employees more likely to ask for a pay rise
One-quarter (26%) of female employees have asked for a pay rise this year compared to one-third (36%) of male staff, according to research by HR software provider Ciphr.Its survey of 1,000 employed adults also found that women were less likely to have asked for a cost-of-living bonus than men, at ...
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Article
DHL workers at Gatwick Airport accept 15% pay rise
Credit: Pabkov / Shutterstock.comAround 600 DHL workers based at Gatwick Airport on the EasyJet contract have suspended strikes after voting to accept a 15% pay rise.Scheduled strikes from 28 July to 1 August will no longer take place.The employees, who are represented by trade union Unite, have also accepted an ...
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Article
Most common forecasts for 2024 pay awards sit at 5%
2024 pay awards forecasts range between 3.8 and 5%, with 5% the most common prediction, according to new research from Paydata.The reward and HR consultancy sought out anticipated 2024 pay awards from 229 employers across a range of sectors between 5 and 20 July. The findings revealed that 32% of ...
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Supplier article
How share plans can help employees become financially resilient and act as a motivational tool
We asked Jonathan Watts-Lay, Director, WEALTH at work, to tell us why workplaces may want to consider offering all employees share plans, the different types available and what they need to be aware of.He comments; “To encourage employees to save more, many companies offer share plans, one of the most ...
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Article
Cartwright awards staff up to £2,000 one-off cost-of-living payment
Cartwright, the pension specialist for defined benefit and hybrid schemes, has given each of its employees a one-off cost-of-living payment of up to £2,000.This extra financial support builds on its cost-of-living support approach last summer, where all staff received £1,000 to help ease the financial impact. It is in addition ...