All Financial wellbeing articles – Page 50
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ArticleStephenson Harwood offers full-time remote work for London leavers
Law firm Stephenson Harwood has offered employees in its London office the opportunity to move to a full remote-working arrangement, in exchange for a 20% reduction to pay.The firm told Employee Benefits that, during the pandemic, it opened up its recruitment to those not based in London, in order to ...
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ArticleTorrance Car Wash fined after committing wage theft
Torrance Car Wash, based in California, USA, will have to pay its workers almost $750,000 (£597,023) and nearly $70,000 (£55,722) in fines after a state investigators’ audit found it had committed wage theft.According to the California Labor Commissioner’s Office, the business was cited $815,311 for wage theft violations involving 35 ...
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ArticleChep staff vote to accept 9% pay increase deal
Staff employed by pallet supplier Chep at its site in Trafford Park, Manchester have voted to accept a 9% pay rise deal, ending a long-running strike.As well as receiving a pay increase that is higher than the current rate of inflation, and on average is worth £2,500, workers will get ...
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ArticleSsangYong Motors UK becomes living wage employer
Korean car manufacturer SsangYong Motors UK has received living wage employer accreditation from the Living Wage Foundation.Its living wage commitment will ensure that all of its UK employees will receive a minimum hourly wage of £9.90 per hour if they are based outside of London, or £11.05 per hour inside ...
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ArticlePay awards remain at highest level since 2008 but still lag behind inflation
HR software firm XpertHR has analysed 263 pay settlement outcomes, and found that the median basic pay award in the three months to the end of March 2022 was worth 3%, the same as the previous two rolling quarters.Pay awards therefore remained at their highest level since December 2008, when ...
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Article50% of employers have not introduced extra financial support
Employee Benefits poll: Half of employers have not implemented extra financial support for their staff to combat the cost-of-living crisis, and do not plan on doing so.A total of 12% of respondents to an online survey conducted by Employee Benefits Magazine said they have introduced some additional financial help for ...
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Case StudiesHackajob backs employees looking to help Ukrainian refugees
Technical talent marketplace Hackajob has 85 employees, with 45 in the UK and the remaining 40 in Iasi, Romania. The office there is on the border with Moldova, and around 100km from Ukraine.When the war started, it became clear that many people in the Romanian office were involved in helping ...
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AnalysisWhat impact is the war in Ukraine having on benefits strategies?
Employee support during the war in Ukraine might include evacuating staff and providing flexible, practical support for those directly affected.Organisations should also remember the importance of mental health support for all employees, including senior managers.In addition to day-to-day considerations, businesses should understand the wider ramifications of world events on other ...
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ArticleBarton's blog: What are employers doing to help mitigate the cost-of-living crisis?
The cost-of-living crisis continues to make its presence felt in all walks of life; headlines this week revealed that subscribers of online streaming services such as Netflix and Amazon Prime are falling in their thousands, with much of the blame placed on a need to cut unnecessary costs. The situation ...
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ArticleUK GlaxoSmithKline staff vote to strike in pay rise row
UK GlaxoSmithKline (GSK) employees have voted to strike against a “derisory” 2.75% pay rise offer from British Big Pharma, according to labor union Unite.A total of 86% were in favour of industrial action, with staff located in Scotland, Hertfordshire, West Sussex, Cumbria and Durham taking part in the ballot. The ...
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ArticleUK workplace pension participation up to 79% in 2021
The Office for National Statistics (ONS) has revealed that the workplace pension participation rate in the UK was at 79%, the equivalent of 22.6 million employees, in April 2021.This was a slight increase from 78% in 2020, which the ONS said could be partly be explained by increased public sector ...
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AnalysisAdapting pay strategies to cope with the cost-of-living crisis
Need to know:Sweeping pay rises may not be achievable for many employers, but spot bonuses can help staff without as heavy an impact on yearly budgets.Financial wellbeing and flexible pay tools can help employees gain greater flexibility and control over their money.Effective communication of the benefits available to staff, as ...
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Case StudiesPromoVeritas focuses on pay to provide security for staff
In a move to help staff cope with the soaring cost of living, promotional marketing agency PromoVeritas announced an across-the-board 6.5% pay rise for its 40 employees in March 2022, and a rise of 8% for those who achieved a performance score of eight out of 10 or higher in ...
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OpinionKatherine Chapman: As costs rise, how can pay strategies help employees make ends meet?
We are living in unprecedented times, with inflation at a record high and spiralling energy and food bills. The worst income squeeze on record lies before us and no one will feel it more sharply than the nearly five million people in low-paid and insecure jobs, already struggling to meet ...
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Case StudiesITM switches to master trust to ease burden and boost engagement
Independent data consultancy ITM switched from a group personal pension (GPP) to a Cushon master trust in January 2021.Hilary Chapman, head of HR at ITM, says: “We previously had a GPP and were looking to move from our previous pension provider because of issues with administration and lack of member ...
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AnalysisAre master trusts the future of pensions?
Need to know:Master trusts offer a cost-effective solution that harnesses economies of scale and relieves employers of a growing regulatory burden around pensions.Many are using technology to forge ahead with developments such as open banking, and flexible drawdown.Value-added services can help employees build financial resilience in the short-term, as well ...
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OpinionDaniela Silcock: Why master trusts have become the pension destination of choice
Master trusts have come into their own over the past 10 years. From a niche arrangement pre-automatic enrolment, master trusts have become the pension scheme type into which 84% of employees are enrolled.Pensions Policy Institute (PPI) modelling expects that out of around 15 million active defined contribution (DC) pension savers ...
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ArticleEmployment on the rise but real pay growth falters
The number of payrolled employees has increased between February and March 2022 for all regions of the UK except for the North West, according to research from the Office of National Statistics (ONS).For the three months ending February 2022, the highest employment rate estimate in the UK was in the ...
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ArticleEXCLUSIVE: 86% say staff need more wellbeing support post-pandemic
EXCLUSIVE: New research has revealed that 86% of employers believe employee expectations have changed and that they require more health and wellbeing support since the onset of the Covid-19 (Coronavirus) pandemic.Towergate Health and Protection carried out research into the changes in health and wellbeing aid needed by employees since Covid-19 ...
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ArticleMRL Consulting Group awards all staff 10% pay rise
Recruitment agency MRL Consulting Group has given all employees, regardless of length of service, role or seniority, a 10% pay increase as of 1 April.According to the business, which operates across Europe, Middle East and Africa, the Asia Pacific and the Americas, this is a response to the spike in ...