All Financial wellbeing articles – Page 82
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OpinionSian Evans: Why financial wellbeing should be part of an employer's duty of care for staff
Employers have many duties towards staff, but there is one that is rarely mentioned: a duty of care towards employees' financial wellbeing.Why is financial wellbeing potentially awkward to discuss? Perhaps employers feel that offering financial assistance represents too much involvement in an individual's life. Or maybe employees feel that if ...
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Supplier articleIncreasing numbers of workplaces now offer access to financial advice for employees
Latest research[1] has found that increasing numbers of employers are now offering financial advice as part of their workplace benefits. The survey of employers found that 35% currently offer their employees access to financial advice, compared to 12% last year.Jonathan Watts-Lay, Director, WEALTH at work, comments;“It’s great to see that ...
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Supplier articlePoll results: 90% of employers believe that a financial wellbeing strategy is increasingly important in the workplace
iQoncept, ShutterstockA recent poll* of employers by WEALTH at work has found that 90% of respondents believe that it’s becoming increasingly important to have a financial wellbeing strategy in the workplace.Jonathan Watts-Lay, Director, WEALTH at work, comments;“It’s great to see that so many employers are recognising the increasing importance of ...
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ArticleHalf believe benefits are not meeting the needs of multigenerational workforce
Half (50%) of employers do not think their benefits offering is meeting the needs of all generations within their workforce, with 89% believing that they will need to change their package to suit future generations entering the workforce, according to research by Aon.The Benefits and trends survey 2019, which polled ...
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ArticleRicher Sounds and SSE support new campaign to tackle low pay
Retail organisation Richer Sounds, energy business SSE and investment firm Standard Life Aberdeen have been accredited as living hours employers as part of a new initiative by the Living Wage Foundation.The Living Hours campaign, which launched this week, has been designed to tackle insecurity around employee pay and hours, and ...
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ArticleEXCLUSIVE: ActionAid employees save £22,841 through benefits platform
EXCLUSIVE: Employees at international charity ActionAid have saved approximately £22,841 since March 2018 by using the organisation’s benefits platform to access retail discounts and free products.ActionAid, which employs around 200 staff in the UK, launched the platform in March 2018, in partnership with provider Perkbox. The platform, which is designed ...
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ArticleEXCLUSIVE: A quarter provide shares or share options to staff
EXCLUSIVE: Since 2018, there has been little change when it comes to the proportion of respondents that offer shares or share options to staff, according to research by Employee Benefits.The Benefits research 2019, which canvassed the views of 290 HR professionals and was published in May 2019, found that 25% ...
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ArticleEXCLUSIVE: Almost nine in 10 employers feel responsibility to provide financial wellbeing
EXCLUSIVE: Almost nine in 10 (88%) HR and benefit professionals have stated that it is their responsibility to provide support to employees on financial wellbeing, according to research by Smarterly.Realigning the workplace savings offering to meet the needs of millennials, which surveyed 1,248 employees and 508 HR professionals in the ...
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Supplier articleEmployee recognition: why the first step starts with YOU
By Toni Whitehouse, Head of Sales Development at Reward GatewayThroughout my professional career, I've had the opportunity to work in a variety of roles – including Recruitment, Sales and Management – selling into a number of different industries. Not only has this given me a unique perspective for the different ...
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Case StudiesInspired Villages develops benefits programme in line with organisational values
Inspired Villages, which develops and operates luxury retirement villages, recently launched a reward and recognition programme for its 210 employees nationwide, to boost engagement and align staff to brand new organisational values.The programme, provided by Reward Gateway, went live on 23 April 2019 and combines both top-down and peer-to-peer recognition, ...
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Case StudiesThe benefits offered by Inspired Villages
The benefits offered by Inspired Villages:Pension, protection and payA defined contribution (DC) pension scheme is available for all staff through auto-enrolment; contributions are set at the statutory minimum of a monthly 5% from employees and 3% from the employer.Life insurance, at three times an employee’s base salary, is available on ...
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ArticleEXCLUSIVE: Hays re-vamps benefits platform and aligns reward with new wellbeing structure
EXCLUSIVE: Recruitment organisation Hays has updated its benefits platform, introduced a new wellbeing structure to align with available benefits and launched an online employee engagement survey in order to reinvigorate and modernise its approach to benefits and reward.The business sought to update its benefits offering to reflect how the workplace ...
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Supplier articleFinancial education is fundamental to improving pension engagement
Monkey Business Images, ShutterstockThe Pensions Policy Institute (PPI) has released its latest research findings ‘Engagement pathways in workplace pensions: an overview of pension decision-making’[1]. The report outlines that there may be 12 million individuals who are under-saving for their retirement and highlights the need for a better understanding around how ...
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ArticleDefra pilots financial education platform for 23,800 civil service employees
The Department for Environment, Food and Rural Affairs (Defra) is piloting a new financial education platform across its 23,800 civil service employees.The new platform, called the Hub and provided by Neyber, will undergo a 12-month pilot period across Defra’s group employees; this started on 20 May 2019.The Hub offers employees ...
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ArticleGoodman Masson and London City Airport shortlisted for Best financial wellbeing strategy
Finance and technology employment agency Goodman Masson and Newham-based London City Airport are among the organisations shortlisted for the Best financial wellbeing strategy, small employer category at the Employee Benefits Awards 2019.This accolade, sponsored by financial education and guidance provider Wealth at Work, recognises an employer that adopts a proactive ...
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ArticleFour in 10 mothers would work longer hours if childcare costs were lower
Almost four in 10 (38%) women with children would choose to work longer hours if childcare was cheaper, according to research by The People's Pension.Gender pensions gap: Tackling the motherhood penalty, published in May 2019, found that after having children, more than two-fifths of women (44%) reduced their hours, more ...
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OpinionCharles Cotton: Maximising value when investing in employee benefits
The cost of some benefits is rising, driven in part by legislative changes. For instance, the minimum employer contribution to a workplace pension increased from 1% to 2% in April 2018, and to 3% a year later. While 3% may not seem much, for some employers, this rise, coupled ...
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AnalysisHow could pensions dashboards influence engagement with employee contributions?
Need to know: The pensions dashboard, due to be launched in 2019, will facilitate better engagement, but will be most effective as part of a broader communications strategy that includes face-to-face methods.In the earlier stages, the biggest attraction of the dashboard will be for consumers to track down lost pensions ...
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Supplier article5 ways to help employees facing retirement
By Jonathan Watts-Lay, Director at WEALTH at workIn the new world of freedom and choice in pensions, one of the most fundamental elements of employee financial wellbeing is retirement preparation. As many employees will turn to their workplace for support at this stage of their life, we have listed 5 ...
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Supplier articleUnderstanding financial wellbeing and creating a benchmark
Our financial wellbeing research found that money worries are affecting employee mental health, productivity, retention and absenteeism.Those with money worries are:8 times more likely to be prone to anxiety and panic attacks6 times more likely to not finish daily tasks2 times more likely to be looking for another jobTaking 1.5 ...