All Financial wellbeing articles – Page 29
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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 ...
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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 ...
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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%, ...
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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 ...
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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 ...
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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 ...
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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 ...
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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, ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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Supplier articleEMPLOYEE WELLBEING SERIES: WORKPLACE WELLBEING MADE SIMPLE: PART TWO
Part two of our ‘Workplace Wellbeing Made Simple’ blog series goes into more detail on financial, physical, and mental wellbeing. We’ll reveal the different employee benefits you can use to support employee wellbeing and boost employee engagement, how to get your benefits offering off to the best ...
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ArticleScottish museums and galleries staff required to receive living wage
Museums Galleries Scotland (MGS) has introduced changes to funding criteria that will require all Scottish museums and galleries that want to apply for grants to pay all of their workers at least the real living wage.On 1 July, the funding and development body introduced two elements of the government’s guidelines ...
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ArticleBirmingham City Council unable to pay £760 million equal pay bill
Birmingham City Council is in conversation with the government due to being unable to pay an equal pay claims bill worth up to £760 million.The council has already paid out a total of £1.1 billion to settle equal pay claims over the last decade following a Supreme Court ruling pay ...
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ArticleUK salary budgets expected to decline in 2024
Salary budgets for UK employees are expected to decline in 2024 after peaking this year, according to research by Willis Towers Watson.The global advisory, broking and solutions firm’s latest Salary budget planning survey found that UK employers are budgeting an average increase of 4.4% for 2024. This is lower than ...
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ArticleThe top 10 most-read articles between 23 - 29 June 2023
The top 10 most-read articles on www.employeebenefits.co.uk between 29 June 2023 were: Medtronic accredited as menopause-friendly employerAllianz introduces electric vehicle salary sacrifice schemeWho will win at the Employee Benefits Awards 2023?Exclusive: GI Group wins Grand Prix at Employee Benefits Awards 2023TotalEnergies staff accept 15.5% pay rise10% of employers introduced support ...
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ArticleManchester Airport staff accept up to 17% pay rise
Credit: David Pimborough / Shutterstock.comMore than 2,000 workers employed by Manchester Airport have accepted a pay deal worth up to 17% over two years and a lump sum worth up to 9.6%.Covering firefighters, security, engineering, airfield operations, traffic marshals and car parking based at the airport, the deal was negotiated ...
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ArticleTLT and Bain & Company named on Top 50 Employers for Gender Equality 2023 list
Law firm TLT, global consultancy Bain & Company and London Stock Exchange Group have been named on The Times Top 50 Employers for Gender Equality for 2023 list.Established by Business in the Community and The Prince’s Responsible Business Network, organisations that choose to enter are asked to share details of ...