All Financial wellbeing articles – Page 63
-
OpinionLaura Soley and Oliver Scutt: How to introduce a staff hardship fund
As a consequence of Covid-19 (Coronavirus), many employers are considering how they might offer support to current employees in financial difficulties.One way to support them is to set up a charitable staff hardship fund, which can be used to give financial support to members of a defined class of people ...
-
Case StudiesGreene King supports staff with financial hardship fund
UK pub retailer and brewer Greene King currently employs around 40,000 people across 2,700 pubs, support centres and breweries.In March 2020, when the Covid-19 (Coronavirus) pandemic struck and pubs were forced to close, more than 99% of Greene King team members were furloughed. The employer introduced a Team Member Support ...
-
AnalysisTop tips for introducing a financial aid fund
Education and financial coaching can help address underlying symptoms of financial stress for some staff.Being able to access immediate and practical support will not just help employees financially, but will also better their emotional wellbeing and improve their quality of life.The end goal of a financial aid fund should be ...
-
Supplier articleHow these salary sacrifice schemes can support the new needs of employees
Salary sacrifice schemes have been hugely beneficial for employers and employees for a long while.These schemes often provide tax and National Insurance (NI) savings for both employers and employees.They also provide employees with an alternative way to spread the cost and save on a number of important areas of their ...
-
ArticleKavitha’s keynote: There’s no excuse to flout minimum wage rules
HM Revenue and Customs (HMRC) this week revealed details of the numerous excuses given by employers for flouting minimum wage rules, which ranged from “the national minimum wage does not apply to my business,” to “it is part of UK culture not to pay young workers for the first three ...
-
AnalysisWhat are the challenges and benefits of introducing the living wage?
Employers can use paying the living wage as a recruitment or retention tool to make them an attractive organisation.For those employees who are paid the living wage, it can mean the difference between being able to afford the things they need for a decent standard of living or not.As the ...
-
OpinionGraham Griffiths: The benefits of paying the living wage
Now 18 months on since the start of the Covid-19 (Coronavirus) pandemic, it is clear that the world of work has changed remarkably and irreversibly. With almost two-fifths of the working population working from home, which is up almost 10% from pre-pandemic levels, many of us now have a very ...
-
Supplier articleSurvey: Work-Life Imbalance Threatens Return To Office
For UK companies grappling with severe labor shortages, inadequate family support is proving harmful to both parents and employers. At the onset of the summer holiday break, we collected feedback from the experts in this area - working parents. Roughly 1 in 4 entered into the holiday ...
-
ArticleHMRC exposes worst minimum wage excuses
HM Revenues and Customs (HMRC) has published details of the most outrageous excuses it has heard from firms for not paying their staff the minimum wage.Excuses heard from employers it investigated ranged from the sublime to the ridiculous. One employer said: “She doesn’t deserve the national minimum wage because she ...
-
ArticleEmployers still failing to offer financial education
New research has suggested employers are still not doing enough to help staff navigate their finances.According to a poll by Wealth at Work, even after the effects of jobs losses and furlough, a significant 41% of organisations are still failing to offer employees any support to enable them to better ...
-
ArticleAUS becomes employee owned
AUS, the family-run Huddersfield-based manufacturer and distributor of operational and safety-critical products for the rail sector, has announced it has become employee owned.The business, which employs around 60 members of staff and is run by founder Simon Gibson, has moved to an employee ownership trust (EOT) after Gibson sold 70% ...
-
ArticlePoll: 61% of organisations have published an ethnicity pay gap report
Employee Benefits poll: Just over six in 10 organisations have ever published an ethnicity pay gap report, according to the latest Employee Benefits research.Ethnicity pay gap reports show the difference between the average, mean and median earnings of businesses’ Bame (Black, Asian and minority ethnic) employees and non-Bame members of ...
-
Article68% of employers consider pay cuts for home workers
A new survey by HR software provider CIPHR has found that more than two-thirds (68%) of employers are now debating whether to implement pay cuts for home workers.According to the research, even though around half (53%) of organisations have actually saved money by not having employees attend the workplace, there ...
-
ArticleXPO Logistics Drinks staff vote to strike over pay
XPO Logistics Drinks staff are set to go on strike after they were offered a 1.4% pay rise for 2021, which is below the current retail prices index RPI inflation rate of 3.9%.Last month (July), employees were asked by trade union Unite to vote on taking industrial action against the ...
-
Supplier articleWhy you Should be Focusing on your People’s Financial Wellbeing
In layman's terms, financial wellbeing is the relationship between an individual and their money; how they feel about and treat their finances.Employees’ poor financial well-being costs UK employers £15.2bn each year due to factors such as absenteeism, leavers, and lack of productivity caused by stress. Additionally, 17 million UK adults ...
-
Article11% of employees can no longer afford to retire
More than one in 10 (11%) people have had to delay their retirement because they can no longer afford to retire, according to new findings.The research from Wealth at Work, which was carried out by Vital Research among 1,320 UK adults aged over 50 in employment, uncovered the varying impact ...
-
ArticleKavitha’s keynote: Saving for the future
More than half (55%) of respondents to a new survey said that the pandemic had made them more aware of the importance of saving for the future, highlighting a positive shift in people’s attitudes towards their finances.The findings from Cushon, which we reported on earlier this week, showed 62% of ...
-
Article62% would stay in savings scheme if enrolled
More than six in 10 employees would stay in a savings scheme if their employer automatically put them in one, according to new data.The research, which was undertaken by workplace pension and savings provider Cushon, found that this number increased to 69% if the employer contributed too. While 22% are ...
-
ArticleXPO Logistics Drinks staff balloted for pay strike
XPO Logistics Drinks drivers and warehouse staff are being balloted over potential industrial action following a 1.4% pay rise offer.Staff have been asked by workers union Unite to vote regarding strike action against the business, which has its 1,000 employees and runs 26 sites across the UK that supply major ...
-
ArticleAegon UK becomes living wage employer
Financial services provider Aegon UK has become a Living Wage Foundation accredited employer.This commitment means Aegon staff will receive a minimum hourly wage of at least £9.50 in the UK or £10.85 in London, with both rates higher than the £8.91 per hour UK government minimum wage for people over ...