All Financial wellbeing articles – Page 78
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ArticleChipotle enhances mental and financial wellbeing package for 80,000 employees
American fast food restaurant chain Chipotle Mexican Grill is launching an improved suite of mental and financial wellbeing benefits for 80,000 employees in the US and Canada from 2020.Working in association with healthcare solutions provider Health Advocate, Chipotle will be providing employees with a range of benefits, including an employee ...
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ArticleCaring responsibilities lead to 47% reduction in women's pension savings
Being unable to work due to maternity leave and taking time off to raise a family results in a 47% reduction in women's pensions compared to men's; this is considerably higher than the 28% reduction in pension pots caused by the gender pay gap, according to research by Now: Pensions.The ...
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Supplier articleWhich cities are the most financially stressed in the UK?
The Employer’s Guide to Financial Wellbeing 2019-20 has revealed the UK’s most financially stressed cities and exactly what their money worries are - ranging from people not wanting to talk about money, to high-levels of credit card debt and little or no savings. The results paint a bleak picture of ...
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AnalysisHow to align pensions provisions with a wider benefits strategy
Need to know:Pensions should be positioned as a vital part of an overarching benefits package, rather than a separate and often distant concern.Employers should package pensions within a wider financial planning provision, promoting it alongside a range of other benefits that can help employees with short- and long-term stability.Focusing on ...
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Case StudiesRicoh uses chatbot to engage remote staff with financial wellness communications
Multinational document services, consulting, software and hardware provider Ricoh has 2,400 employees spread across the UK, including a large base in both Northampton and London.Toni Smith, reward and insights manager at Ricoh, says: "Reaching [office-based] employees with communications is quite easy. The challenge that we have with anything we roll ...
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ArticleHSBC India introduces enhanced childcare allowance benefit for 4,000 employees
Financial organisation HSBC India has introduced enhanced childcare benefits for employees returning to work after having a baby, as a part of its approach to supporting and improving staff work-life balance.The organisation, which employs more than 4,000 staff in India, introduced the policy in September 2019. The new initiative will ...
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Supplier articleHow can employers help with both mental & financial wellbeing?
Our latest research into the state of financial wellbeing of UK employees has re-highlighted the strong link between mental health & financial wellbeing. The statistics are shocking: 36% of UK employees are regularly worrying about money. Perhaps surprisingly, people are worrying more about money (73%) than areas including their ...
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AnalysisHow to create an employer brand fit for the modern workforce
Need to know:As both competition and transparency increase, employers would do well to look at their brand values and how these fit with the expectations of the modern workforce.Flexbility, sustainability and opportunities to learn and grow are all increasingly important, particularly as employees continue to blend work and life.The positioning ...
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Case StudiesCharles Tyrwhitt refreshed benefits to embed new organisational values
Two years ago, global menswear retailer Charles Tyrwhitt began a largescale project to update its organisational values, purpose and behaviours. Alongside this, it refreshed its reward package to better reflect its new cultural approach.Sarah Mortimer, talent acquisition and employer communications manager at Charles Tyrwhitt, says: “We had a set of ...
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Case StudiesThe benefits offered by Charles Tyrwhitt
The benefits offered by Charles Tyrwhitt:Pension and protection benefitsDefined contribution (DC) workplace pension scheme for all employees, offering enhanced matching employer contributions of 6% for managers and above.Group income protection offered to all staff on an employer-paid basis.Health and wellbeingPrivate medical insurance (PMI) provided on an employer-paid basis; this includes ...
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ArticleChipotle launches employer-paid degree programme for US staff
Mexican restaurant chain Chipotle Mexican Grill has launched a new employer-funded degree programme for its 80,000 US-based employees, offering to pay 100% of the tuition fees for 75 different business and technology degrees provided through Guild Education.The new programme, introduced on 15 October 2019, enables all eligible employees with at ...
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AnalysisEquipping staff: Financial education in numbers
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ArticleDebbie Lovewell-Tuck: Optimising financial education
As our Financial Education Week draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.How financially savvy are the employees in your workforce? How many have adequate plans in place to save enough for their retirement, ...
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AnalysisHow should retirement information change for employees at different life stages?
Need to know:Employees of all ages need help saving for a financially stable later life, but the format and delivery will need to vary across different demographics.To engage younger staff, employers could consider repackaging concepts such as pension payments and retirement planning to feel more relevant.Throughout the 15 years leading ...
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Case StudiesACCA engages employees with retirement planning using tailored roadshow
Global professional accountancy body The Association of Chartered Certified Accountants (ACCA) has engaged its employees with retirement planning through a pensions roadshow that addressed their changing needs as they approach retirement.The roadshow, which was offered to all 850 ACCA UK employees, took place across its offices in September 2019, and ...
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OpinionDr Aideen Young: Employers are well-placed to help staff prepare for later life
Auto-enrolment has led to huge gains in pension participation: according to May 2018 figures from the Office for National Statistics (ONS), around 73% of UK employees had an active workplace pension in 2017, up from less than 47% in 2012.While this is good news, pension contributions have remained at the ...
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ArticleEXCLUSIVE: Only 9% of younger employees prioritise retirement savings
EXCLUSIVE: Less than one in 10 (9%) of employees aged between 18 and 35 rank retirement savings as their number one priority, despite 66% of employers believing that pension schemes are a priority for all staff, according to research by Smarterly.The survey of 1,248 employees and 508 HR professionals in ...
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AnalysisIs online education an effective means of supporting financial wellbeing?
Need to know:Financial education is a key tool in supporting the overall wellbeing of employees, but it must be delivered in a method that is engaging and relevant.While face-to-face presentations and seminars are still highly popular, online initiatives can reach a widely dispersed workforce with personalised information.Online methods help avoid ...
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Case StudiesTravis Perkins uses online financial education to support employee wellbeing
In 2017, UK-based builders' merchant Travis Perkins implemented a financial education campaign, in recognition of the impact money worries can have on both the physical and mental wellbeing of employees.Paul Nelson, reward and HR analytics director at Travis Perkins, says: “We have a three-pronged approach to wellbeing: physical, mental and ...
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OpinionMartin Upton: The benefits of using online financial education to reach staff
Providing financial education in the workplace is clearly a matter of good citizenship, but it also makes good business sense. Financial competence reduces the risk of getting into money problems and is conducive to greater productivity by reducing stress levels. Providing financial education is also perceived as a benefit by ...