All Financial wellbeing articles – Page 56
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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 ...
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ArticleGusto Italian expands financial wellbeing package
Casual dining restaurant group Gusto Italian has partnered with automated cloud payroll software provider PayCaptain, as part of a push to get financial wellbeing and awareness higher on its 600 employees' agendas.As a result of the partnership, employees are now able to access pay on demand. This includes wage advances, ...
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Article80% say financial wellbeing-related stress impacts workplace performance
Four-fifths (80%) of employees believe stress related to financial wellbeing can impact performance in the workplace, according to research by YuLife in conjunction with YouGov.The Employee health and wellbeing survey 5.0: Financial wellbeing and the impact on performance in the workplace, which surveyed 2,035 UK adults, also found that 80% ...
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ArticleSeven out of 10 employers actively promoting pensions to younger employees
Employee Benefits poll: More than seven out of 10 employers are already actively promoting their pensions to younger employees, and many more intend to do so in the future.More than 71% of respondents to an online survey said they were actively engaging younger employees in pensions through targeted communications. A ...
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AnalysisHow financial education can help employees make their money go further
Employers may want to consider giving employees practical help that includes debt management, budgeting and top tips for saving on everyday spending.Educating employees with basic skills like budgeting and saving for a deposit for a first home can also provide help in other areas of life.Other benefits like discounted shopping ...
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Case StudiesHalfords supports staff financial wellbeing with savings and budgeting app
Halfords is a provider of motoring and cycling services and products, with more than 10,000 member of staff working in 404 stores, three performance cycling stores and 604 garages across the UK.Every Halfords employee has access to a financial planning app, which was introduced last September in partnership with fintech ...
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OpinionClaire Jose: It is vital that employers support staff financial wellbeing
We all know that happiness comes from within, and it is no different with money happiness. As the cost of living continues to rise, it is more important than ever that businesses turn their attention to their staff to not only provide support for their physical and mental wellbeing, but ...
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ArticleLondon Early Years Foundation awards pay rise and bonus
Credit: Isabelle Johnson/London Early Years FoundationLondon Early Years Foundation (LEYF) has awarded its more than 800 employees a pay rise and a bonus in recognition of their efforts and to help attract new talent.From 1 April, all staff across its 39 nurseries and central office staff, including bank staff and ...
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OpinionLovewell's logic: How is the rising cost of living impacting employees?
Following last week’s damp squib of a Spring Statement, headlines this week have been dominated by how much the cost of living is due to rise yet again from today (1 April). With the price of gas, electricity and council tax all set to rise, along with an increase in ...