All Financial wellbeing articles – Page 68
-
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 ...
-
ArticlePoll: 78% of organisations use salary sacrifice for workplace pensions
Employee Benefits poll: More than three-quarters of organisations use salary sacrifice for workplace pensions, according to the latest Employee Benefits research.Salary sacrifice schemes allow employees to agree to reduce their earnings by an amount equal to their pension contributions and, in exchange, the employer then agrees to pay the total ...
-
ArticleQBE European reveals 54.9% ethnicity bonus gap
Insurance business QBE European Operations has revealed a 54.9% mean ethnicity bonus gap in its first report of this kind.The organisation's median bonus gap was 43.9%, with 75% of ethnic minority staff receiving a bonus compared to 91% of white employees, according to its UK ethnicity pay gap report 2020.In ...
-
ArticleKingfisher completes £900 million bulk annuity deal
Kingfisher, a retailing company that manages B&Q and Screwfix, has completed a £900 million bulk purchase annuity transaction for its pension scheme.Aviva will insure the defined benefit pension liabilities for more than 8,000 members, taking responsibility for the investment and longevity risk. Members will see no change in the amount ...
-
Supplier articleIntroducing the brand-new Salary Extras employee discount app
Salary Extras has undergone a fancy new rebrand and we’ve introduced a brand-new employee discount app to go with it, designed to make your instant employee discounts even slicker.Employee benefits have played a huge part in recent times in supporting employees with the various challenges they’ve faced.In particular, employee discounts ...
-
Supplier articleWhy is financial education and guidance so important right now?
Financial education and guidance are beneficial to the financial well-being of employees and pension scheme members regardless of the climate. However in times like these, when individuals are extremely concerned about their finances, they are perhaps more likely to make knee-jerk decisions that could have a lasting impact on their ...
-
Supplier articleHelping employees save, invest and organise their finances with employee benefits
According to Salary Finances, those that have poor financial health are 3.7 times more likely to be suffering from anxiety and 5.3 times more likely to be feeling depressed and finding it hard to carry on with daily life. As poor financial wellbeing can significantly affect someone, helping your employees ...
-
Supplier article94% of Trustees fear retiring members will be targeted by scammers
WEALTH at work’s latest survey* with the Pensions Management Institute (PMI) has revealed that 94% of Trustees fear their members approaching retirement will be targeted by scammers.Jonathan Watts-Lay, Director, WEALTH at work, comments; “Pension scams are a persistent problem which has a devastating impact on those who become victims. Our ...