All Financial wellbeing articles – Page 89
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ArticleEXCLUSIVE: Seven in 10 multinationals have effective global benefits strategies
EXCLUSIVE: Seven in 10 (70%) employers have effective global benefits strategies and structures, according to research by professional services firm Aon.Its Global benefits governance and operations study 2018-2019, which surveyed more than 200 multinational organisations with workforces of between 10,000 and 100,000, also found that 60% want to create a ...
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ArticleNew Zealand launches consultation to support older staff
The New Zealand government has launched a consultation on its draft strategy to better support older individuals, including encouraging the employment of those aged over 50.The Better later life: 2019 to 2034 consultation opened on 12 April 2019 and will run until 3 June 2019. Following this, the government will ...
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Case StudiesSiemens changes pension structure ahead of 2019’s auto-enrolment increases
Ahead of the auto-enrolment minimum contribution changes in April 2019, global technology organisation Siemens amended its defined contribution (DC) structure with a view to creating behavioural change.Siemens, which employs 15,000 staff in the UK overall, 11,000 of whom are enrolled in the pension scheme, now offers enhanced matching contributions based ...
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AnalysisAddressing increases to auto-enrolment contributions to maximise financial wellbeing
Need to know:As auto-enrolment minimum contributions increase in April 2019, some employees may opt out of their pension in order to address present financial concerns.A communications approach that puts the changes into monetary values, and considers finance holistically, can bolster employee understanding.Using a salary sacrifice pension arrangement can mitigate rising ...
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ArticleSky and Virgin Active shortlisted for Best financial wellbeing strategy, large employer
Utilities organisation Anglian Water, telecommunications business Sky and health club chain Virgin Active are among the organisations shortlisted for the Best financial wellbeing strategy, large employer category at the Employee Benefits Awards 2019.The award, sponsored by financial education and guidance provider Wealth at Work, recognises an employer that uses a ...
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ArticleMore than three-fifths of UK staff want more financial support from organisations
Almost three-fifths (57%) of employees believe organisations should do more to financially support their staff, according to research by workplace short-term finance provider GettaSub.Its survey of 2,000 UK employees also found that 44% think they are not getting enough support from their employer for financial advice, while 37% believe their ...
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ArticleAsda proposes new contract for hourly-paid retail staff
Supermarket retailer Asda has proposed a new contract for its hourly-paid retail employees in England, Scotland and Wales, offering to increase pay to £9 an hour but cut paid breaks.Asda has proposed the new employment contract in order to provide a standardised offering across all its retail employees in the ...
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ArticleStarbucks extends education benefit to 5,000 UK employees
US-based coffee organisation Starbucks has extended its education benefit, offering to pay the tuition fees for online university degrees for its 5,000 UK employees.The Starbucks Degree Achievement Plan (SDAP) will enable UK-based staff to undertake a university degree programme with Arizona State University (ASU) via an online portal, with Starbucks ...
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AnalysisHow can employers stay on top of the changing pensions landscape?
Need to know:Staying informed about regulatory changes around pensions ensures employers can respond quickly and in an educated fashion.The multitude of regulatory changes in recent years mean that employers and trustees may be focusing more on keeping pace than developing effective long-term strategies.Organisations can engage their employees in managing pensions ...
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OpinionLesley Alexander: The pensions employee experience
At The Pensions and Lifetime Savings Association’s (PLSA) conference this year, the key theme centred on engaging employees with their workplace pensions.Outside of the interested few, this can undoubtedly be an uphill struggle. However, if we do not address the under-saving culture in the UK, we will be faced with ...
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ArticleEXCLUSIVE: Arup launches digital financial wellbeing tool for 5,700 UK staff
EXCLUSIVE: Multinational engineering and design organisation Arup has launched a digital financial wellness tool for its 5,700 UK employees.The online tool, which was launched on 22 March 2019, will be provided to UK-based staff, who are spread across 16 offices, for one year. Following this period, Arup plans to assess ...
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Case StudiesAdmiral Group supports employees financially to lower stress and boost performance
Insurer Admiral Group has approximately 7,500 employees, predominantly based in Cardiff and working in roles ranging from customer service through to technical support. It has a relatively young workforce, with an average age in the early 30s, roughly equally split between men and women.The organisation bases its benefits strategy around ...
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Supplier articleIs poor financial wellbeing crippling employees?
Financial worries have plagued employees and employers alike for decades. However, in such an uncertain economic climate, the discrepancy between how employers feel monetary concerns affect employees and how it is often underestimated. According to Dr Cary Cooper, leading expert in workplace wellbeing at the University of Manchester, there is ...
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AnalysisHow to support employees through uncertainty and change
Need to know: Whether political instability, economic downturn or organisational change, employers need to ensure that they soften the negative effects of uncertainty on employees.Positive behaviours, such as financial stability and psychological resilience need to be embedded in advance to be fully effective.Clear, deliberate and open communications will help ensure ...
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Supplier articleSalary Finance researches how saving impacts financial wellbeing
In The Employer’s Guide to Savings we explore:The link between running out of money and financial worries.The real savings situation for UK employees and how their low financial resilience is impacting financial wellbeing.Why people aren’t saving, and how we can make it easier for them to start and continue a ...
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ArticleRoadchef launches flexible income benefit for 600 staff
Motorway and trunk road service operator Roadchef, which employs more than 3,300 staff in the UK across 30 locations, has launched a new flexible income benefit for the 600 employees based at its Chester, Clacket Lane and Northampton operating sites.The Get Paid As You Go platform, provided by Wagestream, was ...
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ArticleEXCLUSIVE: SSE extends online financial education for Ireland-based staff
EXCLUSIVE: Energy organisation SSE has extended its online financial education programme to 1,000 employees working in Ireland.SSE originally launched its financial education programme, provided by Nudge, in January 2018 for 20,000 employees working across its 150 UK operating sites.The extended provision was launched in Ireland on 1 March 2019, featuring ...
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ArticleConfessions of a benefits manager: Candid seeks financial support at work
I’ve decided to do something about financial support at work and financial wellbeing in general. Not just my own; you only have to look around the office to see how stressed out and worried everyone is. It’s hard to know if they are lying awake at night over their mortgage, ...
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Supplier articleHow do you support your employees’ financial wellbeing?
A decade ago, financial wellbeing was a ‘nice to have’ in HR’s repertoire of resources. Then the 2008 financial crash happened, real wage growth declined and UK household debt reached a new average high of £15,385.Today, financial wellbeing is a major part of the HR toolkit as organisations are increasingly ...
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Supplier articleHow behavioural insights help HR with employee financial wellbeing
Financial wellbeing initiatives give staff more than a better bank balance. Help your employees to gain control of their finances and your organisation will benefit from fresher employees who are enjoying a better lifestyle and less stress.In an earlier article, we discussed the different ways HR can support employees in ...