All Financial wellbeing articles – Page 64
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ArticleKavitha’s keynote: Financial struggles continue despite NMW rise
The Budget 2021 announcement on Wednesday (27 October) confirmed an increase to the national minimum wage (NMW), which has been welcomed by many employees who have been facing financial struggles during the Covid-19 (Coronavirus) pandemic.Indeed, with the NMW rate rising from £8.91 to £9.50 next April, many low-paid workers are ...
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ArticleReport finds real terms pay growth still weak
Real wage and pay growth is set to grind to a halt next year, a think-tank has warned, despite the uplift in minimum wage rates and an end to the public sector pay freeze promised in the Budget.In 2022 average earnings are expected to grow by 3.9%, but are likely ...
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ArticleBudget 2021: Pay rises announced
Budget 2021: Chancellor of the Excheque Rishi Sunak has confirmed pay rises for the lowest-paid workers and public sector staff, as well as changes to Universal Credit, today (27 October).Sunak said the national living wage (NLW) will go up to £9.50 an hour from 1 April 2022 – a 6.6% ...
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ArticleUK gender pay gap progress slow
The UK gender pay gap has continued its downward trend but the pay penalty experienced by women over 40 perseveres, according to data from the Office for National Statistics (ONS).In 2021, the pay gap among full-time employees was 7.9%, up from 7.0% in 2020. This is still below the difference ...
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ArticleReport calls for more pensions reassurance
Reward and pensions professionals need to put employee communication and reassurance front and centre if they want to maintain engagement when they carry out a pension scheme change consultation, according to a new report.The document, titled Pension change consultation: turning a legal requirement into an engagement opportunity from insurance broker ...
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ArticleGo Ape now owned by its employees
Outdoor adventure company Go Ape has transferred the majority of shares in the business to an employee ownership trust, allowing its workforce to have a stake in the company’s success. Ninety per cent of Go Ape shares have been handed over to staff, with the remaining 10% ...
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ArticleZurich UK sees 300,000 paternity leave hours taken
Insurance organisation Zurich UK has revealed that its working fathers have taken 300,000 hours of paternity leave since it launched its enhanced package in 2019.OnePoll surveyed 1,000 respondents on behalf of the provider and found that in the past two years, two out of three (63%) dads opted to take ...
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OpinionPolly Neate: What employers need to know about the housing emergency
The housing emergency is real. Just ask your colleagues.Right now in the UK, working families are being evicted from their homes. Working people are living in hostels and working parents are going without food just so they can pay the rent. This is the housing emergency. How much do you ...
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Supplier articleThe Importance of Financial Literacy in the Workplace
Financial literacy is concerned with providing individuals with financial knowledge and helping them make better decisions (Hustron, 2010). Crises on average occur every seven years: 2008 mortgage financial crisis and COVID-19 health pandemic to name two recent ones. Personal finance and basic financial knowledge become even more essential during crisis ...
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ArticleCleaners win back furlough wages from Pridegreen
Cleaners at London Elizabeth Hotel have won back £4,733 in furlough wages that they were denied by outsourced cleaning business Pridegreen after holding protests.On 2 October, 25 cleaners and supporters staged a demonstration on the hotel premises, organised by the Independent Workers’ Union of Great Britain (IWGB), as staff had ...
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ArticleThe top 10 most-read articles between 15 October - 21 October 2021
The top 10 most-read stories on employeebenefits.co.uk between 15 October – 21 October 2021 were: EXCLUSIVE: Clipper Logistics launches financial wellbeing policyEXCLUSIVE: 26% of workplaces unaffected by the menopauseDFS introduces staff menopause policiesShould employers use total reward to attract and retain the talent they need?Glasgow refuse staff to strike due ...
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ArticlePay awards set to reach 2.5% by August 2022
Private sector employers expect that the average pay settlement will rise to 2.5% by next September, according to XpertHR.Some 84% of businesses polled expect to increase pay at their next annual review and half of employees are expected to receive a higher award than they did over the past year.Sheila ...
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ArticleUniversity of Sheffield to pay staff £10 per hour
The University of Sheffield has announced that it will pay all of its employees a minimum of £10 per hour from 1 November 2021 following threats of industrial action this month (October).This will affect around 400 members of staff including university cleaners, with the majority working 17.5 hours per week ...
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ArticleStagecoach staff strike amid pay rise dispute
Stagecoach driver employees across south Wales have begun to take part in planned strike action due to a breakdown in talks with over pay.Members of the Unite Wales Union started the industrial action at 2am this morning (Tuesday) in the Brynmawr, Cwmbran and Blackwood depots, as they want a pay ...
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ArticlePandora becomes living wage employer
Copenhagen-headquartered jewellery brand Pandora has announced that it is paying its UK retail employees the current living wage of £9.50 per hour as of yesterday (18 October).The business, which has more than 160 owned and operated stores in the UK and Ireland and employs 1,200 people in its retail teams, ...
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ArticleEXCLUSIVE: Clipper Logistics launches financial wellbeing policy
Clipper Logistics has announced that it has rolled out a financial wellbeing policy built around flexible pay in order to remove the locked pay cycle as of today (19 October).Based in Leeds, UK, the logistics solutions business that employs more than 9,000 team members across more than 50 distribution centres, ...
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Article46% of staff aged 35-54 are unaware of their retirement income
New data has revealed that almost half (46%) of employees aged 35-54 do not know how much income their pension will provide them with in retirement.Research by Invesco, Invesco Consulting, Maslansky and partners and Nest Insight looked at how simple changes to the use of language could help workers in ...
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OpinionMark Ormston: Key considerations to introducing a salary sacrifice pension scheme
When introducing a salary sacrifice pension scheme, early engagement with payroll is key, as it is vital to involve them as soon as possible in the discussions. An employer may discover the systems or software currently being used have certain limitations or missing functionality to meet desired requirements.Employers should consider ...
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ArticleIdeal Carehomes gives staff 5% pay rise
Ideal Carehomes, a residential and dementia care provider, has awarded a 5% salary increase to all hourly paid staff as part of a £1.5 million per annum investment.According to the business, which employs more than 1,300 people across 27 care homes in Yorkshire, the North West and the Midlands, this ...
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ArticleAmazon delivery drivers launch employee rights claim
Thousands of Amazon delivery drivers have instigated an employee rights claim regarding pay with law firm Leigh Day today (13 October).According to firm, at least 3,000 drivers could be eligible for a total of £140 million in compensation because being classified as self-employed delivery service partners means they do not ...