All Financial wellbeing articles – Page 55
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Supplier article4 GREAT EXAMPLES OF EMPLOYEE INCENTIVE IDEAS
Did you know that incentives, when used correctly, make workers feel valued? In fact, a study by a UK recruitment firm found that 85% of surveyed employees felt motivated to perform better when they were incentivised with rewards. If you’re thinking about an incentive programme, it should ...
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Article347,000 more staff used an EAP in 2021
Soaring numbers of UK workers looked for support from an employee assistance programme (EAP) last year, research has revealed.The Employee Assistance Professionals Association (EAPA) found that 347,000 more employees used an EAP in October 2021 than they did a year earlier.Its data is based on evidence from information provided by ...
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ArticleUniversity staff plan strikes over pensions and pay
More than 50,000 university employees are to take part in further strike action over pensions, pay and working conditions next month, according to a trade union.The University and College Union (UCU) said that unless an agreement could be reached in forthcoming talks, staff at 44 further education institutions would take ...
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ArticleUK DC pension schemes down 40% in a decade
The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown.The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011.It also showed a 2% drop in the number ...
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ArticlePension advisers want dashboard roll out prioritised
Addressing climate change and rolling out the pensions dashboard are the biggest priorities for workplace pension scheme advisers this year, research has revealed.The Society of Pension Professionals (SPP) asked its members where they wanted the government and regulators to focus attention over both the next 12 months and the next ...
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Case StudiesThe benefits offered by Together Housing Group
The benefits offered by Together Housing Group:PensionLocal government pension schemes (LGPS) with varying employer contribution levels.Defined benefit (DB) scheme.Defined contribution (DC) salary sacrifice scheme with 3% or 5% employee contribution matched by 6% or10% employer contribution.Additional voluntary contributions (AVC’s) for LGPS offered on salary exchange basis.Healthcare and wellbeingLife assurance at ...
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ArticleSerco-employed hospital staff to strike over pay
Hundreds of hospital porters, cleaners and catering staff employed by outsourcing business Serco are to go on strike in a dispute over pay.Members of the union Unite who work at London hospitals St Bartholomew's, the Royal London and Whipps Cross will walk out for two weeks from Monday 31 January, ...
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ArticleCushon acquires Creative’s workplace pension scheme
Workplace savings fintech firm Cushon has acquired financial services business Creative’s workplace pension scheme.This is Cushon's third workplace pension acquisition in two years, in line with regulatory goals to drive further consolidation in the market. With the addition of the 14,500 additional employers under Creative’s pension trust, this makes Cushon ...
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ArticleShaw Healthcare to pay staff real living wage
Care home operator Shaw Healthcare has decided to pay its 3,200 employees the real living wage regardless of their length of service.As of 1 March 2022, depending on roles and the existing pay scale, all members of staff will see an increase in their salaries of between 3% and 10% ...
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ArticleMedian basic pay increase to rise to 2.5%
The median basic pay increase is predicted to rise to 2.5% in January, an increase against the 2021 quarter four figure of 2%, according to the latest data from XpertHR.Across the whole economy in 2021, the median basic pay award stood at 1.8%, which is just below the 2% recorded ...
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ArticleMercedes-Benz staff to strike over pay
Technicians employed by Daimler’s Mercedes-Benz Retail Group (MBRG) have voted in favour of a four-day strike over pay.A total of 185 members across the car retail group’s nine sites voted by majorities of 80% to 100% to hold strike action towards the end of last year, due to a third ...
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OpinionAdrian Cooper: Where next for financial wellness?
The nascent financial wellness industry is set to evolve into a fragmented market offering specialised solutions to meet different financial challenges.The current approach is to offer a one-size-fits-all package. Yet the financial challenges people face are not homogenous. At the start of their working life, young people may be saddled ...
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Article61% of UK staff are unhappy with their salary
Three out of five (61%) UK professionals are unhappy with their current salary, according to a new survey.Independent job board CV-Library surveyed 1,500 professionals and revealed that lawyers, teachers and new graduates were the most disappointed with their current pay packets. Despite many being unhappy, more than half (55%) stated ...
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ArticleTUC warns reduced isolation will not fix sick pay issue
The Trades Union Congress (TUC) has warned that the new government policy of reducing minimum self-isolation from seven days to five will not fix the UK’s fundamental sick pay problem.The union body has published a new analysis based on new Office for National Statistics data which estimates that 2.7% of ...
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Article31% of British staff are in control of their retirement
New research has revealed that one in three (31%) British employees are in control and organised with their retirement planning.Private and commercial bank Arbuthnot Latham surveyed 300 respondents asking whether they are ready for retirement to discover the UK's attitude towards the subject, as well as exploring how they plan ...
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Article2022 pay rise budgets soar
UK employers increased the amount of money they put aside for staff pay rises over the second half of last year, it has emerged.Research by global advisory, broking, and solutions company Willis Towers Watson (WTW) found that average 2022 pay hike budgets grew from 2.9% in July 2021 to 3.2% ...
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Article38% of UK staff want more financial wellbeing aid
More than one in three employees want more support from their employer to improve their financial wellbeing, research has revealed.Reward and benefits provider Edenred’s survey of 2,000 UK employees found that 38% would like additional help through work with budgeting and managing bills. Inflation hit 5% in the UK before ...
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ArticleFirst Manchester bus staff escalate pay-related strike
Bus drivers employed by First Manchester have announced further industrial action later this month as a pay dispute continues.Strikes took place at the transport company's depot in Oldham on both Monday and Tuesday this week, as drivers demand an immediate pay increase from the current rate of £12.40 to £13 ...
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Supplier articleThe Secret to Helping Your People’s Financial Wellbeing.
Financial wellbeing has been floating around for a while now, but it’s time to get serious about your people's money. It’s not news that individuals are counting their pennies this year. And most likely the year after that.But it’s no easy feat to protect your team’s money, and is it ...
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ArticleAction urged to rebalance pension wealth
Shareholder returns that feed into UK workers’ pensions “disproportionately benefit a wealthy minority”, according to a report put together by the TUC, think tank Common Wealth and the High Pay Centre.The study found that almost one in three UK shares was held by a UK pension fund in 1990 yet ...