All Financial wellbeing articles – Page 50
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AnalysisHow can employers position the workplace as a first port of call for savings vehicles?
Need to know:The cost-of-living crisis has underlined the need to improve people’s level of savings.Workplace schemes such as the individual saving account (Isa), lifetime Isas and sharesave already exist, with trials underway for ‘sidecar savings’.But employers have to up their game when it comes to communicating with employees.According to research ...
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ArticleWest Brom Building Society gives staff one-off £1,200 payment
Credit: Wozzie / Shutterstock.comThe West Brom Building Society has awarded 430 of its employees a one-off £1,200 support payment in response to the rising cost-of-living.According to the building society, which employs around 615 members of staff, the payment has been targeted at those earning £35,000 or less per year, with ...
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Supplier articleHow to remain an employer of choice during the cost of living crisis
Author: Chloe Thompson, Head of Content Strategy at Reward GatewayEvery HR leader wants their top talent to stay. But as the competitive talent market continues to challenge, and as many employees struggle with sharp cost of living increases, how do companies remain an employer of choice? Where do they find ...
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ArticleFour-fifths think employers should help with rising living costs
Four in five (80%) employees said their employer should help with rising living costs, according to research by insurance and financial services firm Canada Life.The survey was conducted by Opinium among 2,000 UK adults. It revealed that, in the face of the cost-of-living crisis, salary increases (54%), help with bills ...
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ArticleMore than 80% of employers help staff with cost-of-living rise
More than 80% of large UK organisations are taking action to help staff during the cost-of-living crisis, according to research by professional services firm PricewaterhouseCoopers (PWC).Its survey of 98 heads of reward and reward specialists from 84 organisations with more than 250 employees found that 53% have offered financial support ...
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ArticleThe top 10 most-read articles between 19 - 25 August 2022
The top 10 most-read articles on www.employeebenefits.co.uk between 19 - 25 August 2022 were: EXCLUSIVE: Natwest Group introduces menopause supportOddbox launches financial wellbeing platform for staff4Com gives staff extra £200 a month to help with energy bills Work-life balance beats salary as top factor in choosing new roleUK ranks sixth ...
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ArticleKraftHeinz to give 700 employees 5.5% pay rise and £1,200 bonus
Around 700 KraftHeinz employees, represented by trade union Unite, have secured a pay increase and bonus, overall worth 11% of their yearly wage.The deal includes a 5.5% increase on base rates and two one-off payments totalling £1,200, with the first payment of £500 to be paid immediately, and the second ...
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ArticleSinead Carville: Are cost-of-living payments more effective than pay rises?
At FinTru, we have always been tuned into factors internally and externally that impact our employees. We have several mechanisms to elicit feedback and conversation from employees to understand and get ahead of factors that may be having a negative impact on them. It has not been lost on anyone ...
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ArticleJohn Hood: Are cost-of-living payments more effective than pay rises?
In these incredibly unprecedented times, any way employers are looking to support workers is positive. However, our focus, of course, is much more on the side of pay rises, rather than ad-hoc bonus payments.There are a few reasons for this, one of which is that our campaign at the Living ...
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ArticleAlison Kidd: Are cost-of-living payments more effective than pay rises?
One of the most effective ways to make colleagues feel supported is by engaging in honest conversation and listening to their concerns, their needs and their thoughts. By doing so, you can identify what, as an employer, you can do to make a positive difference on employee wellbeing.By taking this ...
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ArticleOddbox launches financial wellbeing platform for staff
Sustainable fruit and vegetable delivery business Oddbox has introduced a financial wellbeing platform for its approximately 100 members of staff.Through a partnership with finance and wellbeing provider Mintago, Oddbox has given employees the ability to find all past pensions and manage contributions towards their current pension, as well as access ...
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ArticleEXCLUSIVE: IDHL offers free financial wellbeing coaching to employees
Digital agency group IDHL has launched financial wellbeing support for its 393 UK staff by partnering with financial consultant Bippit.The support will ensure that every employee has free access to their own Financial Conduct Authority-regulated financial coach, in order to receive independent support and coaching to help them take control ...
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ArticleRoyal London gives lower-paid employees £1,000 pay rise
Insurance group Royal London has pledged to give all permanent and fixed-term employees on full-time equivalent (FTE) salaries of less than £40,000 per annum a £1,000 FTE pay increase.The organisation employs more than 4,000 workers, and the pay rise will take effect from October for around half of its workforce, ...
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ArticleYorkshire Building Society gives staff £1,200 cost-of-living payment
Yorkshire Building Society has awarded the majority of its employees a one-off £1,200 payment in order to boost its financial support and help with the rising cost-of-living.All eligible members of staff will receive the payment in September, subject to the usual deductions. Chief officers, directors and any employees working their ...
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Case StudiesVirgin Money firmly embeds financial wellbeing into employee experience
When Virgin Money introduced its new employment package, A Life More Virgin, in early 2022, financial wellbeing was one important piece in the jigsaw.Post-pandemic, flexibility and choice are key themes which run through the employee experience at Virgin Money. Accordingly, the bank wanted each of its 7,500 employees to find ...
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AnalysisHow to create a targeted financial wellbeing strategy
Need to know:Many employers already have great financial wellbeing tools in place, they just need to be promoted more effectively.Any benefits introduced to support financial wellbeing should be underpinned with education.Employers should plan to measure the effectiveness of any financial wellbeing support and be prepared to amend this if situations ...
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Supplier article92% of Trustees fear their members approaching retirement will be targeted by scammers
WEALTH at work’s survey* with the Pensions Management Institute (PMI) has revealed that 92% of Trustees fear their members approaching retirement will be targeted by scammers.Jonathan Watts-Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist, comments; “Pension scams are a persistent problem which have a devastating impact ...
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ArticleNationwide Building Society gives staff £1,200 cost-of-living payment
Nationwide Building Society has awarded its more than 11,000 members of staff with a £1,200 one-off payment as it increases support during the cost-of-living crisis.The payment has been introduced for those who earn £35,000 or less per year, which is 61% of its 18,000-strong workforce. It will be paid in ...
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ArticleEXCLUSIVE: 35% of employers will not change pay despite rising living costs
More than a third (35%) of employers are not planning on making any changes to pay policies in light of the current economic environment, according to research by insurance brokerage, risk management and consulting services firm Gallagher.Conversely, 40% of employers said they have demonstrated their commitment to supporting employees financially ...
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ArticleMedian monthly pay up by 6.6% in July 2022
Early estimates for July 2022 from the Office for National Statistics (ONS) indicate that median monthly pay was £2,108, a 6.6% increase compared with the same period last year.According to the findings, pay growth fluctuated around 3.6% until 2020 when it became negative, following an increasing pay growth trend between ...