All Financial wellbeing articles – Page 24
-
ArticlePortico accredited as living wage employer
Portsmouth-based shipping business Portico has received living wage employer accreditation from the Living Wage Foundation.As part of this commitment, every Portico employee will receive a minimum hourly wage of £10.90. This is higher than the government minimum for those aged 23 and above, which currently stands at £10.42 per hour.The ...
-
Case StudiesThe benefits offered by Emcor UK
The benefits on offer at Emcor UK:PensionContract-based group personal pension (GPP) plan, the Group Flexible Retirement Plan.Healthcare and wellbeingEmployee assistance programme for all employees, employer paid.Occupational health, employer paid.Health Assessment or screening, available through flexible benefit scheme.Private medical insurance for certain employee levels.Health screening for certain employee levels.York Test home ...
-
Case StudiesPodcast: Emcor UK aligns benefits proposition with employees' expectations
Employee Benefits · Emcor UK podcastListen: Facilities management firm Emcor UK recognises the important role that a strong benefits proposition plays in the attraction and retention of key talent in a competitive marketplace.In this episode of the Employee Benefits podcast, Nicola Shephard, head of reward, benefits and people analytics, talks ...
-
ArticleExclusive: NHS Black Country Integrated Care Board introduces financial wellbeing platform
The NHS Black Country Integrated Care Board (ICB) has implemented a financial wellbeing platform as part of its investment in the wellbeing of its 550 employees.The platform, which is provided by Bippit, gives employees access to free and professional one-to-one sessions with financial coaches holding Financial Conduct Authority (FCA)-recognised qualifications. ...
-
Supplier articleStrategies for Boosting Workforce Engagement: A Guide for HR Leaders
Navigating the challenges of boosting workforce engagement can be daunting for HR and people managers, but the benefits to the organisation are well worth the effort. At Penfold, we've wrestled with these issues ourselves and have distilled some effective strategies for you. Let's delve into how you can enhance engagement ...
-
AnalysisWhat impact will the living pension initiative have on employees’ retirement outcomes?
As a voluntary savings target, the living pension initiative sets out the minimum annual contribution needed to afford basic living costs in retirement.Employers should ensure that employees who increase their contributions in line with this are not saving at a rate they cannot afford.Organisations should engage employees in their future ...
-
Case StudiesHerbert Smith Freehills supports employees’ future with living pension
When law firm Herbert Smith Freehills was approached about taking part in the living pension pilot, it was keen to support what it saw as a vital initiative not just for its own employees, but for society in general.Operating from 25 offices across the Asia Pacific, Europe, Middle East and ...
-
Supplier articleImproving Employee Financial Wellbeing in the Face of Economic Uncertainty
Amid soaring inflation rates there are predictions of a recession hitting the UK by the end of the year. If you are an employer or HR manager, your responsibility extends to assisting your workforce in mitigating financial stress and ensuring their mental wellbeing. In this way, they can appreciate their ...
-
Article48% of Gen Z would leave an employer who cannot keep sustainable promises
Nearly half (48%) of Generation Z workers would consider leaving a job that did not follow through on in its promises on sustainability, according to new research.Bupa’s latest Bupa wellbeing index revealed that despite the cost-of-living crisis, employees are willing to take a 19% reduction in pay to work for ...
-
ArticleGovernment awards public sector pay rises
The government has offered more than one million public sector workers pay rises of between 5%-7%.The employees include consultants, dentists and GPs in England, prison officers in England and Wales, armed forces, senior civil servants, junior doctors in England and school teachers in England. They have received rises of 6%, ...
-
Article20% of DC pensions see rises in opting out or reducing contributions
A fifth (20%) of defined contribution (DC) pension schemes continue to report increases in members opting out or reducing contributions, according to research by Aon.Its DC today survey, which is based around a regular pulse survey designed to track how DC schemes and their members are reacting to the current ...
-
Case StudiesHamilton Barnes' benefits strategy evolves as the business grows
Recruitment agency Hamilton Barnes started up in 2014 and now employs 100 people, having grown from 20 pre-pandemic. As it has grown, it has had to develop its benefits offering to ensure it can hold on to talented staff.George Barnes, chief executive officer (CEO) of Hamilton Barnes, says: “The number ...
-
ArticleThe Perfume Shop accredited as living wage employer
Fragrance retailer The Perfume Shop has received living wage employer accreditation from the Living Wage Foundation.The retailer aligned itself with the real living wage this year, signalling its commitment to ensuring all staff are paid fairly, feel rewarded and valued, and as part of its recognition of how the cost-of-living ...
-
ArticleMedian monthly pay up 9.7% year-on-year in June
Median monthly pay for June 2023 has been estimated at £2,308, a 9.7% increase from June 2022 and a 24.1% rise from February 2020, according to data from the Office for National Statistics (ONS).Its latest labour market figures revealed this is an increase on the previous month, when median monthly ...
-
ArticleAmazon warehouse employees strike over pay
Almost 900 workers employed by Amazon at its Coventry fulfilment centre have begun a multiple-day strike in an ongoing row over pay.The strike will continue until 13 July at the organisation’s warehouse, lasting for two hours during the morning and two hours in the evening across the three days.The workers, ...
-
ArticleHerbert Smith Freehills and West Brom win Beyond the Living Wage Award
Credit: Wozzie / Shutterstock.comLaw firm Herbert Smith Freehills, building society West Brom and savings and retirement firm Phoenix Group have been recognised for their commitment to supporting staff beyond the living wage.Winning the Beyond the Living Wage Award at the Living Wage Foundation’s Living Wage Champion Awards 2023, the employers ...
-
ArticleRemote working most valued benefit for 94%
More than nine in 10 (94%) employees rate working from home as the most important benefit to them because it increases their productivity and happiness, according to research by Business Name Generator.Its survey of more than 1,000 UK office-based workers, however, found that just 27% of respondents currently receive this ...
-
Supplier articleShould spare cash be used to reduce mortgage debt or increase pension savings?
By Jonathan Watts-Lay, Director, WEALTH at work“When it comes to securing our financial future there are often a number of decisions that must be made. A financial dilemma that many people consider is whether to prioritise reducing their mortgage debt or whether to increase the amount they pay into their ...
-
Supplier articleWhy Your Employees May Not Achieve a Comfortable Retirement
As an employer, you're obliged to provide your staff with a workplace pension - a mandate made compulsory by the UK government in 2012. The required minimum contribution is set at 8%, typically comprising of a 3% contribution by the employer and a 5% contribution by the employee.Unfortunately, a considerable ...
-
Supplier article5 Reasons your workplace pension plan may be undermining your business (and why you should review it)
You’ve got a company pension scheme in place, so what would prompt you to change it? It might seem like a monumental task, especially when you already have myriad other responsibilities.However, there's a strong reason to do so: your business and employees may be at risk if you don't take ...