All Financial wellbeing articles – Page 31
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ArticleJohn Lewis will not pay employee bonus after £234m loss
Retailer John Lewis has announced that it will not be giving its employees a bonus for this year, after reporting a £234 million loss.The bonus is its annual share-out of profits, and all staff receive it as a percentage of their salary. The 2021/22 bonus was worth 3% of employees' ...
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ArticleSpring Budget 2023: Freeze on fuel duty for 12 months
Spring Budget 2023: The government has frozen fuel duty for another 12 months, according to Chancellor of the Exchequer Jeremy Hunt's speech to the House of Commons today (15 March 2023).Hunt told the Commons that he would extend the 5p per litre cut in duty on petrol and diesel and ...
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ArticleMedian monthly pay up by 6.7% year-on-year in February
Median monthly pay in February 2023 was £2,193, a 6.7% increase compared with the same period in 2022, according to the Office for National Statistics (ONS).The findings revealed that the median pay growth rate fell between March and May 2020, but 6.7% was higher than the average growth rate before ...
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Supplier articleHow can employees save cash during the cost of living crisis?
It’s no secret that people are feeling the pinch right now with the cost of living crisis in the UK. It’s tough out there, with prices for the necessities like food and energy on the rise. Everyone’s looking for ways to save some cash and as it ...
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AnalysisHow to implement flexible pension policies
Flexible pension policies can help employees shore up short-term financial wellbeing, while still saving for the future.In difficult periods, the ability to flexibly drop or pause pension contributions could be invaluable.Flexible policies should be combined with effective communication and education to ensure staff understand the impact of their choices.The word ...
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Case StudiesDeloitte gives staff control with flexible pension policy
In October 2022, professional services firm Deloitte introduced a flexible pension policy that gave its 22,000 UK employees more control over their finances, while still centring the importance of retirement savings.The policy allows staff to receive a cash payment in place of their pension contributions, in order to help people ...
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ArticleNHS junior doctors in England strike over pay
NHS junior doctors in England have commenced the first of three strike action days today (13 March) over a pay restoration dispute.A total of 98.06% of junior doctors who participated in the ballot voted to strike, with around 36,218 British Medical Association (BMA) members set to not attend any shifts ...
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ArticleThe top 10 most-read articles between 3 - 9 March 2023
The top 10 most-read articles on www.employeebenefits.co.uk between 3 - 9 March 2023 were: Costa Coffee gives staff third pay rise in 12 monthsAmazon receives top employer certification for 2023FNZ implements global family leave benefitsGovernment names first menopause employment championKinleigh Folkard and Hayward gives staff one-off cost-of-living payment Sellick Partnership ...
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ArticleLondon Ambulance Service accredited as living wage employer
London Ambulance Service has received living wage employer accreditation for paying its staff a wage that reflects the capital’s cost of living.The accreditation from the Living Wage Foundation recognised that all staff, including those in control rooms and who prepare ambulances to go on the road, receive an hourly minimum ...
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Supplier articleWhat can businesses do about the great resignation?
With ? of UK workers considering a career change at the start of 2022, the ‘great resignation’ has shaken up businesses - and its effects are still rippling throughout many industries. People are quitting their jobs left, right and centre in search of better work-life balance, more ...
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OpinionDanielle Ayres: The changing face of flexible working
The number of people working flexibly has increased drastically since the pandemic; however, as we move on from that, it seems more employers are asking staff to return to workplaces on a regular basis.Many employees have become reliant on not having to travel into work, or deal with the costs ...
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Supplier articleThe 3 most effective ways to measure financial wellbeing
There are a huge number of benefits to improving your employees’ financial wellbeing - and hopefully we’re now all on the same page!But if you need reminding - or are discovering financial wellbeing for the first time - here’s a useful place to start.One thing that comes up when introducing ...
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ArticleKinleigh Folkard and Hayward gives staff one-off cost-of-living payment
Credit: I Wei Huang / Shutterstock.comLondon-based independent property group Kinleigh Folkard and Hayward (KFH) has awarded full-time employees a one-off £750 payment to support them during the current economic climate.The property services group, which has more than 60 branches across London and 10 business divisions, handed out the discretionary payment ...
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ArticleBelfast City Council accredited as living wage employer
Belfast City Council has received living wage accreditation from the Living Wage Foundation.In order to receive accreditation, the council increased its pay rate for employees to a minimum of £10.90 per hour as set by the foundation, and also ensured that any of its regularly contracted staff were also paid ...
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Supplier articleEmployee Recognition Day March 3rd 2023
Author : Ellie Pinder,17 Thoughtful Ways to Recognise Your People: Employee Recognition Day 2023Looking to retain, motivate and support your people? Employee recognition is the best way to encourage wellbeing, productivity and keep the best talent on your team.When is Employee Recognition Day 2023?March 3rd marks Employee Recognition Day 2023, ...
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Supplier articleIn uncertain times, help employees plan ahead
As we clamber through the thickest of fogs, stumbling as we go, we can barely see the road ahead. In an almost post-apocalyptic aura we wonder what is around the dimly-lit and foreboding corner for us. Can we avoid redundancy? Should we keep the heating on? Will ...
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ArticleTwo-fifths of employers have introduced cost-of-living support for staff
Two-thirds (66%) of senior business leaders agree that employers have a substantial role to play in supporting staff through the rising cost of living, and 40% have introduced support measures since the start of 2022, according to research by the Work Foundation at Lancaster University.The briefing Shifting sands: Employer responsibility ...
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ArticlePret A Manger gives staff third pay rise in 12 months
Food and beverage business Pret A Manger has announced that its 7,870 UK shop employees will receive a pay rise in April, to support them with the rising cost of living. This will be the third pay increase employees have received in 12 months.From 1 April, team members, baristas and ...
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Supplier articleHow to create an inclusive financial wellbeing strategy
Financial wellbeing has been a priority for many organisations this year - and for good reason.We know the benefits of a good financial wellbeing strategy - reduced financial stress, improved productivity and staff retention, better working culture and an attractive benefit for new recruits - so now let’s delve a ...
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AnalysisWhat role do share schemes play in the current economic climate?
While share schemes may not solve immediate financial worries, they can help boost long-term financial stability.Aligning staff with shareholders can improve motivation and engagement, reducing absence and turnover at a time when talent is at a premium.Proper communication of both the negatives and positives will help ensure staff get the ...