All Financial wellbeing articles – Page 82
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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
!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async");Read more...New year’s resolutions: How to ensure a strong start to 2020Karen Thomson: Fostering diversity and inclusion in the year ahead
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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 ...
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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 ...