All Financial wellbeing articles – Page 49
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ArticleLiving Wage Foundation brings rate update forward as cost of living rises
The Living Wage Foundation, which calculates and publishes an annual real living wage, as well as providing accreditation to those employers that commit to pay it, has revealed it will pull its 2022-23 rate announcement forward to September.The living wage rate update is usually announced in November as part of ...
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Supplier articleHow financial stress impacts employee mental health and performance
A recent survey by Schroders Personal Wealth, conducted before soaring inflation started making headlines, found that over half of Britons are already stressed about their financial situation.Discussing money worries with employers is a conversation many employees are reluctant to have. Your workplace may have many people bottling up their financial ...
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ArticleFinTrU awards staff a £2,000 pay rise
Financial organisation FinTrU awarded the majority of its approximately 750 employees a pay increase to combat the current of the cost-of-living crisis.Effective from 1 July, employees will receive an additional £2,000 or €2,000 depending on their assigned location, or an additional 5% increase to their base salary, whichever is the ...
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OpinionLovewell's logic: How far should employers support staff with the rising cost of living?
The rising cost of living has dominated headlines over the past few months, with many households now facing increasingly bleak and difficult circumstances. According to the Office for National Statistics (ONS), 87% of UK adults reported a rise in their cost of living in April 2022. As a result, many ...
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ArticleDHL drivers delivering for JCB secure 9.5% pay rise
DHL delivery drivers working for construction equipment manufacturer JCB have called off a strike after accepting a 9.5% pay rise.The drivers, who deliver JCB parts between UK factories, had planned to take part in industrial action on Monday and Tuesday this week. However, after DHL offered a 9.5% pay increase, ...
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ArticleArriva drivers accept revised and backdated 3% pay offer
More than 1,000 London bus drivers employed by Arriva have accepted a revised and backdated pay offer of 3%, following three days of industrial action.An initial 48-hour strike was held in April over the dispute, as the workers based at garages in Brixton, Croydon, Norwood and Thornton Heath who operate ...
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ArticleBank of America ups minimum hourly wage to $22
Bank of America has announced that it is raising its US minimum hourly wage to $22 (£17) as of the end of June, seeing an annualised salary for full-time employees increase to more than $45,000 (£36,007.20).According to the bank, this builds on its history of being a national leader in ...
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AnalysisHow can employers engage staff in responsible pensions investment?
Need to know: While the idea of providing ethical and sustainable investment options has gathered popularity, the take up of these pension investments is still relatively low.Embedding environmental, social and governance (ESG) factors into default funds can be complicated, as it introduces additional risks and can distract from focusing on ...
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ArticleSt Ermin’s Hotel becomes accredited living wage employer
St Ermin’s Hotel based in Westminster, London has received accreditation from the Living Wage Foundation.The hotel is part of the Autograph Collection and a subsidiary of Marriott Bonvoy, and the commitment will ensure that all 140 members of staff receive at least the London minimum hourly wage of £11.05. This ...
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ArticleNational living wage rose 26% between 2015 and 2019
The national living wage (NLW) rose by 26% between April 2015 and April 2019, more than twice the 12% increase in median hourly pay for NLW eligible workers, and faster than inflation (8%), according to the government’s Low Pay Commission (LPC).The LPC reviewed the NLW until April 2020, at which ...
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ArticlePoor financial wellbeing affected 2.5 million private sector staff
New analysis has discovered that 2.5 million private sector employees have taken time off in the last 12 months due to poor financial wellbeing, resulting in a total of 13 million days off work.Carried out by Centre for Economics and Business Research (CEBR) on behalf of pension, investment and protection ...
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ArticleLidl Germany commits to pay staff €14 minimum wage
Image credit: Manuel Esteban / Shutterstock.comLidl Germany has committed to pay its employees a minimum entry-level wage of at least €14 (£11.93) gross per hour from 1 June.This will be an increase from the current Lidl minimum entry wage of €12.50 (£10.65) per hour, and will also exceed the ...
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ArticleTallymoney pilots paying staff in gold
Image credit: Ascannio / Shutterstock.comFinancial services firm Tallymoney has offered its 20-plus members of staff the chance to get paid in gold rather than pounds and pence, in order to help them stay ahead of inflation.Cameron Parry, chief executive officer at Tallymoney, has himself signed up to the scheme. Parry ...
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ArticleBBC awards staff 5.2% pay rise for 2022
The BBC has promised a 4.2% pay increase for its staff, followed by a further rise of 1% from August, bringing the total increase for 2022 to 5.2%.While this is 3% more than the annual pay increase provided by the broadcaster in 2021, it has acknowledged that this is still ...
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AnalysisHow are cost-of-living increases affecting employee health?
Need to know:Money worries can affect employees’ physical and mental health and wellbeing, with research finding that financial concerns are leading to anxiety, sleep problems and cancelled gym memberships.Training line managers and promoting an organisation's employee assistance programme (EAP) can help employees access support for financial and mental health issues ...
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ArticleInsecure and low-paid work could be costing Treasury £10 billion per year
A Trades Union Congress (TUC) report has warned that the government’s failure to stop insecure and low-paid work could be costing HM Treasury £10 billion a year.According to the research, which used the latest tax and benefit modelling, low-paid self-employment costs £9.7 billion alone each year, and more than £192 ...
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ArticleHonest Burger and Claranet UK make shortlist for Best Financial Wellbeing Strategy - Small Employer at Employee Benefits Awards 2022
Restaurant chain Honest Burger and cloud and cybersecurity solutions firm Claranet UK have been shortlisted for the Best Financial Wellbeing Strategy – Small Employer category at the Employee Benefits Awards 2022.The award recognises a small employer with fewer than 1,000 employees that uses a proactive approach to addressing its workforce’s ...
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ArticleHalf of DC pension schemes driven to help employees retire at reasonable age
Almost half (46%) of defined contribution (DC) pension schemes are primarily driven by the aim to provide sufficient pension funds for employees to retire at a reasonable age, up from 29% in 2020, according to research by Aon.Its 2022 DC pension scheme and financial wellbeing survey, which surveyed schemes collectively ...
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ArticleLinkedIn to pay $1.8m in back wages to address equal pay disparity
Image credit: Ink Drop / Shutterstock.comEmployment networking site operator LinkedInhas reached a conciliation agreement with the US Department of Labor, in order to resolve allegations of gender-based pay disparities in its San Francisco and California locations.In a routine compliance evaluation, the Office of Federal Contract Compliance Program (OFCCP) found that ...
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ArticleAmazon to reimburse US staff for travel to access abortions
Online retail business Amazon.com has introduced a policy to reimburse employees for travel expenses for certain medical procedures, including abortions.The news comes as a leaked draft opinion outed the Supreme Court's potential decision to overturn landmark abortion protection case Roe v Wade, the most recent development in a long-running erosion ...