All Financial wellbeing articles – Page 61
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ArticleAlex Watson: Will the national minimum wage increase support staff financial wellbeing?
For low-paid workers, the repercussions of the Covid-19 (Coronavirus) pandemic have exacerbated income insecurity, and issues of in-work poverty are on the increase.Young people are more likely to have been employed in sectors that were impacted hardest during the pandemic and more likely to have been furloughed, so assuming they ...
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Article32% of staff to increase emergency funds in 2022
One in three UK employees is prioritising building up emergency savings in 2022, according to new data, as financial uncertainty from the Covid-19 (Coronavirus) pandemic has promoted the need for a financial cushion.Pensions and investments services company Aegon’s latest research, which was conducted among 2,000 UK working adults in December, ...
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Article25% of staff plan early retirement at age of 60
A quarter of people planning to retire early have a target to leave work on their 60th birthday, research has revealed.The survey of 2,000 people by insurance provider Aviva also found that 17% of those who had already chosen to exit the workforce ahead of receiving their state pension had ...
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ArticleAldi gives staff pay rise from February 2022
Aldi has announced that it will increase the hourly pay rates for its 28,000 members of staff from 1 February 2022 in a bid to maintain its position as one of the UK’s highest-paying supermarkets.All UK-based store assistants at the German-owned grocery chain are set to receive at least £10.10 ...
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Case StudiesPodcast: Trayport adapts benefits to keep culture alive through pandemic
Listen: In this episode of the Employee Benefits podcast, David Glennon, rewards manager at Trayport, discusses some of the employee wellbeing projects that the software organisation put in place to support staff during the pandemic.These initiatives led to Trayport winning the award for Best benefits to support employees during the ...
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Case StudiesThe benefits offered by Trayport
The benefits on offer at Trayport:Pensions and financial wellbeingGroup personal pension plan with Aviva with a 7% employer contribution.Regular financial wellbeing talks and webinars.Access to a financial advisor.Option to save into an individual savings account (Isa) directly from payroll.Group riskGroup income protection for all employees, employer paid.Life assurance at four ...
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ArticleMedian pay award increases to 2.2%
The median pay award across the UK rose to 2.2% in the three months to October - with the upper quartile increasing by even more - according to the latest monitoring figures from Incomes Data Research (IDR).An analysis by the benchmarking body of 41 pay deals that took place between ...
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ArticleCarmarthenshire Council gritters set to strike in pay row
Gritters employed by Carmarthenshire Council’s highways department have voted to take industrial action against their employer in 2022 over a pay-related dispute.The GMB trade union said 90% of its members at the Welsh local authority had voted in favour of taking action, which would see more than 50 gritters temporarily ...
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ArticleStaff at Ford Dagenham plant win pay rise
More than 300 contract workers employed by Lineside Logistics and based at the Ford plant in Dagenham, east London, have accepted a 5.1% pay rise.Trade union Unite said the contractors, who assemble diesel engines at the site, had voted in favour of the one-year pay deal, which is backdated to ...
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ArticleBelong increases starting salary to £10 an hour
Dementia care operator Belong has announced that it will pay all 1,100-plus employees a minimum of £10 an hour.From 1 January 2022, staff of all ages working at its care villages and home care services across the North West and West Midlands will be paid above the real living wage ...
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ArticlePandemic forces 300,000 women out of workplace pensions
Some 300,000 women were unable to make any savings towards a workplace pension in the last year due to the impact of lockdowns, home schooling and increased domestic responsibilities during the pandemic, research has revealed.Workplace pension provider Now: Pensions’ new report Pandemics and pension inequality, created in collaboration with the ...
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Supplier articleThe new age of flexible benefits
By Lee Thompson, Head of Solutions Delivery at Reward GatewayAs the world around us changes, many of my peers are entering a new world of hybrid, or even fully remote, work, yet they still have the same (lack of) technology when it comes to their working life, particularly when it ...
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AnalysisHow have reward strategies changed in 2021 and what might the new year bring?
Ultimately in 2021, reward professionals had to keep on the pulse of what employees wanted and needed more than ever.Employers can offer discount schemes and salary sacrifice schemes to those looking to keep costs low and boost their financial wellbeing, as well as providing support for those wanting to bolster ...
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ArticleSick pay is too low for around one-third of staff
Around one-third of UK workers have sick pay that is too low to meet basic living costs, or no protection at all, according to research.The Trades Union Congress (TUC) conducted an online survey of more than 2,000 workers earlier this year that showed many didn't qualify for statutory sick pay, ...
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OpinionJeremy Harris: What are the long-term consequences of the pensions pay gap?
During a House of Lords debate on 22 November 2021, following a question posed by Labour life peer Lord Sikka about the UK government's efforts to tackle entrenched gender pay inequality, the pensions gap was highlighted as an issue of major concern.The pensions gap, it was noted, contributes to societal ...
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ArticleEnable Scotland ups staff pay to £10.40 an hour
Social care charity Enable Scotland has increased its basic rate of pay to £10.40 per hour for its 2,000 members of staff as of this month (December).The wage rise, which goes beyond the Scottish government-funded increase to £10.02, means that the basic contracted rate of pay for the organisation’s care ...
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ArticlePoll: Just 8% of employers publish disability pay gap
Employee Benefits poll: Fewer than one in 10 organisations currently publish their annual disability pay gap, according to our research.Only 8% of respondents to an online survey said they made the data available to the public on a regular basis.A further 33% are considering reporting on disability pay while the ...
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ArticleGender earnings gap still high at 40%
The average mid-working-age UK woman earned 40% less than her male counterpart in 2019, research has revealed.The study, which was carried out for the Institute for Fiscal Studies' (IFS) Deaton Review of Inequalities, found the gender earnings gap was just 13 percentage points lower than in the mid-1990s.The authors found ...
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ArticleUber loses High Court bid to challenge worker rights ruling
The UK High Court has refused transport business Uber’s application to declare its gig-economy business model lawful following the Supreme Court’s ruling on its worker rights and transport regulation.In February this year, the Supreme Court ruled against Uber and confirmed that its drivers were entitled to statutory protection under employment ...
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Supplier article6 Reasons Why Every Employer Should Consider A Salary Sacrifice Car Scheme
The salary sacrifice car scheme is a product primarily aimed at employees, and offers them a non-cash benefit in return for a portion of their gross salary. This provides a significant lifestyle benefit for the employee and is a means of achieving cost-effective motoring on a nett-zero carbon basis.However, the ...