All Financial wellbeing articles – Page 77
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ArticleEXCLUSIVE: Majority of employers use in-house teams to provide at-retirement support
EXCLUSIVE: Despite the increased sense that it is a pension provider’s responsibility, the primary source of at-retirement support continues to be HR, benefits, reward, and learning and development teams (34%), and in-house pensions teams (13%), according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was ...
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ArticleEmployees in Aberdeen, Hull and Edinburgh are the richest in the UK
Employees who live and work in Aberdeen, Hull and Edinburgh are among the richest in the UK, according to research by CV Library.The study compared the basic living costs against average salaries for UK professionals in 18 of the UK’s key cities from July 2019 to 20 October 2019. It ...
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ArticleEXCLUSIVE: Almost half of employers offer at-retirement support
EXCLUSIVE: The value of providing at-retirement support is becoming gradually more apparent to employers, with 46% of HR decision-makers stating that their organisation helps staff with this life stage in 2019, compared to 39% of employers in 2018 and 40% in 2017, according to research by Employee Benefits.This increasing interest ...
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ArticleNine in 10 say employers should support all aspects of staff financial wellbeing
Almost nine in 10 (88%) senior HR professional believe it is an employer’s responsibility to provide support on all aspects of staff financial wellbeing, according to research by Smarterly.The research, published in December 2019, surveyed 250 HR professionals within organisations with 300 or more employees. It also found that almost ...
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Supplier articleInfographic: Supporting your employees with their financial wellbeing
29% of your employees losing sleep over how to save for the future.Your employees are at different stages along the financial wellbeing pathway. Some may be struggling to balance their spending with their earnings, while others may be close to achieving financial freedom.Whatever their financial situation, they are all looking ...
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Supplier articleWhat role does gender play in financial wellbeing?
The Employer’s Guide to Financial Wellbeing 2019-20 is the second annual survey of UK employees. The guide highlighted some striking differences between men and women’s financial wellbeing. When it comes to low financial wellbeing, on the surface it appears that women are impacted far more than men - 41% ...
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Case StudiesThe benefits offered by Ovo Energy
The benefits offered by Ovo Energy:Pensions and protectionDefined contribution (DC) group personal pension (GPP) for all employees with a 5% matched contribution from the employer.Critical illness insurance, available to all employees through a flexible benefits plan.Healthcare and wellbeingPrivate medical insurance is provided to senior leadership on an employer-paid basis. Eligible ...
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Case StudiesOvo Energy targets employee financial wellbeing with benefits strategy
Utilities provider Ovo Energy has experienced a sharp growth trajectory over the 10 years it has been operating, and as such, has created a benefits strategy that can both meet the needs of a fairly young workforce, while also supporting a talent management strategy that focuses on attracting and retaining ...
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ArticleNewcross Healthcare rolls out flexible pay benefit to 8,000 health workers
Healthcare organisation Newcross Healthcare is rolling out a flexible pay benefit that will allow 8,000 health workers among its 9,000-strong workforce to access their pay as it is earned, rather than waiting for a monthly pay date. Newcross Healthcare has been trialling the new Flexi Pay benefit for the past ...
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AnalysisFestive trends: The new year in numbers
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ArticleEXCLUSIVE: 26% want guidance on retirement decisions due to pension freedoms
EXCLUSIVE: The pension freedoms, introduced in April 2015, gave many employees increased choice around how and when to access their pension. However, with more choice and flexibility has come a greater need for guidance around retirement savings.This year, 26% of respondents have found that more employees want guidance around decisions ...
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AnalysisKey dates to incorporate into 2020 benefits strategy
Need to know:There are many awareness days that can be used as a framework for benefits strategy. Rather than choosing dates to focus on, though, employers should determine the important values for the business first.April 2020 will see key legislative changes that employers should also consider and prepare for.Some dates ...
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ArticleEight in ten employees face financial difficulty in January due to early December payday
Eight in ten (82%) UK employees find that getting paid early in December has a negative financial impact in January, according to research by Hastee.Its Christmas research report which canvassed 1,000 employees across the UK and Ireland in November 2019, found that 78% have to use some form of credit ...
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OpinionLovewell's logic: The most wonderful time of the year...?
It’s the most wonderful time of the year… or is it? While many of us, myself included, are now fully embracing the festive season, decorating our homes, shopping for gifts and making plans to spend time with family and friends, for others, this can be a time of year to ...
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AnalysisAre employers entering a new era of pay strategies?
Need to know:Where workplace loans and savings vehicles help to reduce high-interest lending, flexible paydays and wage streaming can aid employees with their day-to-day finances.Concerns about increased frivolous spending should be heeded, but if implemented correctly, alternative pay strategies can, in fact, help promote positive behaviours.Employers should be wary of ...
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Case StudiesStonegate Pubs provides flexible pay to give employees control over financial health
Pub management organisation Stonegate Pubs, which operates 770 pubs and bars across the UK, including brands such as Slug and Lettuce, and Walkabout, has 15,000 employees overall, 12,000 of whom are paid on an hourly rate. Roles include bar staff, kitchen staff, salaried management and a 450-strong central support team.Making ...
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OpinionCharlotte Gibb: Financial wellbeing benefits that work for everyone
Work has historically been positioned as the route out of poverty; however, with increased job insecurity and the gig economy, employment no longer comes with the guarantee of financial security.Mental health at work 2019: Time to take ownership, published in October 2019 by Business in the Community (BITC) in partnership ...
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Supplier articleAbsenteeism and financial wellbeing
Those who have money worries are taking, on average, at least one sick day a year to deal with their money worries. Research published in The Employer’s Guide to Financial Wellbeing 2019-20 shows that 36% of UK employees are worried about money. That means that 360 people out of every ...
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Supplier articleWhy budgeting is not a problem for UK employees
People who have low financial wellbeing do know how to budget. Research published in The Employer’s Guide to Financial Wellbeing 2019-20 shows that only 5% of people with low financial wellbeing don’t know how to budget and less than 5% don’t think about budgeting. So if budgeting is not a ...
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Supplier articleImproving finanical wellbeing in the workplace - our latest ebook
Forward-thinking employers recognise the importance of financial wellbeing as part of well-rounded wellbeing strategy. As an employer, you are in a unique position to influence and intervene when it comes to the financial wellness of your workforce.Whether you’re looking to build on an existing plan, or start your financial wellbeing ...