All Financial wellbeing articles – Page 96
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Supplier article
How to convey the value of workplace pensions
This month has marked the final auto-enrolment staging date for small employers. With concerns that the current contribution level is not enough to produce an adequate level of income in retirement, Jonathan Watts-Lay, Director, WEALTH at work comments on what employers can do next.Jonathan Watts-Lay, Director, WEALTH at work, a ...
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AnalysisFinancial wellbeing in numbers
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OpinionJulia Hanna: Financial fitness is a win-win for employers and employees
There is increasing evidence that financial anxiety impacts mental, physical and social wellbeing. This, in turn, impacts attendance and performance at work.With stagnant wages, increased life expectancy, and an uncertain economy and job prospects, according to PWC’s Employee financial wellness survey, published in April 2015, about a third of us ...
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AnalysisWhy support financial wellbeing for different types of workers?
Need to know:Employers should consider offering financial education to all employees and workers regardless of the length of their contract or employment status.They should communicate clearly what financial wellbeing benefits are on offer.Productivity can increase if employees are not worried about their financial health.The workforce dynamic is evolving, with a ...
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Case StudiesSSE provides contractors with same financial wellbeing benefits as permanent staff
Energy provider SSE believes that all employees, whether they are employed permanently, on a fixed-term contract, or as part of its trainee programme, should have the same access to the organisation's financial wellbeing benefits package.Its 200,000 employees, which includes 500 trainees and a large number of contractors, have access to ...
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OpinionJonathan Watts-Lay: Helping employees to focus on their finances
It is not uncommon for employees to face financial worries at various stages of their life, whether that is dealing with debt, concerns over retirement savings or making their monthly budget work.The link between debt, money worries and stress, lower productivity and absenteeism are increasingly recognised by employers and many ...
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OpinionBen Willmott: Improving the modern world of employment with the Taylor report
The increase in self-employment over the last few years plus the rise of the ‘gig economy’ has seen an increasing debate about the pros and the cons of these so-called atypical working arrangements. A key issue has been employment status and rights because many people are not clear on what ...
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ArticleEXCLUSIVE: Learn to embrace a savings culture at Employee Benefits Connect 2018
EXCLUSIVE: Delegates at Employee Benefits Connect 2018 will be able to learn about the importance of creating a savings culture in order to support employees with their financial wellbeing and monetary goals.Jeanette Makings (pictured), head of financial education services at Close Brothers Asset Management, and Simon Williams, senior financial planner ...
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AnalysisWhat role do workplace loans play in a financial wellbeing strategy?
Need to know:A workplace loan scheme enables employees to access a loan through their employer’s benefits package, which they then repay through salary deductions from net pay.Workplace loans can be a useful tool to help employees develop savings habits, as once the loan is repaid, the salary deduction model can ...
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Case StudiesMitie used workplace loans to launch financial wellbeing strategy
Outsourced facilities management organisation Mitie introduced workplace loans for its 53,000 UK employees in order to kickstart its financial wellbeing strategy.Its workplace loan scheme, which was introduced in December 2017 and is provided by SalaryFinance, is aimed at helping Mitie to facilitate access to a practical financial benefit that enables ...
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OpinionCatherine Rickard: Student loan repayment help recognises employees' wider financial situations
Major changes associated with expanding higher education provision have increased the levels of debt held by millennials as they enter the labour market, as well as the number of people affected by such immediate debt.Projections have shown that graduates will be paying off student debt well into their 40s and ...
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ArticleEXCLUSIVE: Hear the future of financial wellbeing at Employee Benefits Connect 2018
EXCLUSIVE: Delegates at Employee Benefits Connect 2018 will be able to gain an insight into the future of financial wellbeing strategies.Monica Kalia (pictured), co-founder and director at Neyber, will present a session titled ‘The employer view on what the future of financial wellbeing looks like’ as part of the wellbeing ...
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ArticleDebbie Lovewell-Tuck: Maximising the effectiveness of financial wellbeing
As our Financial Wellbeing Week, in association with Wealth at Work, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.Over the past few years, we have seen employers’ approaches to supporting their employees almost go ...
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Case StudiesGVA uses online financial education as basis for financial wellbeing strategy
Commercial property organisation GVA began to create a non-invasive financial wellbeing strategy with the launch of an online financial education programme for its 1,500 UK employees based across its 11 national operating sites.It implemented its financial education programme, provided by Nudge, in November 2017 following the launch of its physical ...
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AnalysisHow can employers construct a non-invasive approach to support employees’ financial priorities?
Need to know:Employers should consider personalising the delivery and content of financial education to enable employees to take control of their own learning either at home or in the workplace.Technology, such as platforms that provide individuals with a full financial overview or financial education via WhatsApp, can empower employees to ...
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OpinionHelen Undy: How can employers help employees improve their financial resilience?
While employees might try their best to leave their problems at the door when coming to work, we all know it is not realistic. Employees are human beings; when under financial pressure, behind on bills or being contacted by creditors, they underperform at work and their mental health can be ...
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Case StudiesUK Power Networks uses benefits to switch on employee engagement
For those that work or live in the south east of England, a UK Power Network van and engineer is a familiar sight. With 6,000 employees that help power homes and businesses across East Anglia, London and the south east of England, the electrical network operator distributes around 27% of ...
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Supplier article
The Autumn Budget 2017 Client Briefing
The Autumn Budget laid out on 22 November 2017 by the Chancellor, Phillip Hammond, was positioned as supporting Britain’s need to prepare ‘to meet the challenges ahead’, driving for ‘a dynamic and innovative economy’. Within the context of the Office for Budget Responsibility’s downgrades in productivity assumptions and cuts to ...
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ArticleEXCLUSIVE: SSE launches online financial education programme
EXCLUSIVE: Energy organisation SSE has launched an online financial education programme for 20,000 employees based across 150 UK operating sites.The financial education programme, which launched on 23 January 2018, forms part of the organisation’s wider focus on wellness. This approach aims to help employees’ improve their overall health and wellbeing.The ...
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Article28% provide financial education to ensure employees understand their workplace benefits
More than a quarter (28%) of employer respondents provide a financial education programme to ensure employees understand and make the most of their workplace benefits, according to research by Close Brothers and the Pension and Lifetime Savings Association (PLSA).Its Lifetime savings challenge report, which surveyed 1,000 employers with 200 or ...