All Financial wellbeing articles – Page 98
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ArticleEXCLUSIVE: Medway NHS Foundation Trust abolishes lowest pay grade
Employee Benefits Live 2017: Kent-based Medway NHS Foundation Trust has abolished its lowest pay grade in order to improve the financial wellbeing of its employees.Speaking in a panel discussion session titled ‘The financial wellbeing journey’ at Employee Benefits Live 2017, James Devine, executive director of HR and organisational development at ...
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ArticleEXCLUSIVE: Travis Perkins and Hays tailor financial wellbeing messages
Employee Benefits Live 2017: Building merchant organisation Travis Perkins and recruitment organisation Hays have tailored their respective financial wellbeing communications in order to engage their differing workforces.Travis Perkins has centred its financial wellbeing communications on established health and safety messages, which its employees readily engage with. A large number of ...
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ArticleEXCLUSIVE: Neyber to discuss financial wellbeing at Employee Benefits Live 2017
EXCLUSIVE: Nick Burns (pictured), chairman of the advisory board at Neyber, will discuss the cause and effect impacts of financial wellbeing issues on employees’ physical and mental health at Employee Benefits Live 2017.The session, titled ‘How are employees benefitting from financial wellbeing strategies?’, will form part of the financial wellbeing ...
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Supplier article
Employee reluctance to access pension advice not only a cost issue
In the Government's second Finance Bill 2017, a new income tax exemption to cover the first £500 worth of pensions advice provided to an employee was introduced.It will be implemented retrospectively from April 2017 and allow advice not only on pensions, but also on the general financial and tax issues ...
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Case Studies
Case study on the University of Lincoln: financial education designed for employees
Ian Hodson, Head of Reward, University of Lincoln, sits down with WEALTH at work to discuss the financial education programmes it has in place for its employees and how this has helped benefit their financial wellbeing. As well as this, Ian talks through the award winning financial education workshops designed ...
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Video
Why helping employees improve their financial wellbeing is essential
The seven-minute video above, presented by Jonathan Watts-Lay, director at Wealth at Work, covers the following areas:What is the impact of financial worries on employees?Why do businesses need to be concerned about this?What support can employers offer to employees?What is the best way to communicate this support?What support is available ...
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Supplier articleFinancial wellbeing — are we doing the right things?
Gethin Nadin, director, global partnerships, BenefexAlmost two years ago, we were told that rents were rising, mortgages were getting more expensive, consumer debt was increasing and that there was a real need for financial wellbeing in the workplace.So, what has changed? Not a lot, in my opinion. Debt continues to ...
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Article71% believe staff are distracted by personal debt at work
Just under three-quarters (71%) of employer respondents believe that employees may be distracted by personal debt problems while at work, according to research by Jelf Employee Benefits.The research, which surveyed 319 employers, also found that 43% of respondents believe employees at their organisation have been absent from work over the ...
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ArticleEXCLUSIVE: UK Power Networks to launch online financial education programme
EXCLUSIVE: Electricity supply organisation UK Power Networks to launch an online financial education programme for its 5,700 UK-based employees.The new programme, provided by Nudge, will be introduced to staff in August 2017 as part of the organisation’s wider employee wellbeing strategy. The programme will involve personalised emails or text messages ...
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ArticleLorica relaunches in the employee benefits market
Corporate wealth management organisation Lorica has re-entered the employee benefits market to offer financial wellbeing and pension support services to employers.The organisation, which sold its employee benefits business to consultancy Aon in 2014, launched its new benefits proposition on 1 June 2017. Lorica continued to operate as a wealth management ...
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AnalysisHow to help employees strike the right savings balance
Need to know:Employers recognise that a one-size-fits-all approach to financial education is not as effective as individualisation.Employees face different financial pressures at different life stages, but these change through an individual’s working life.There are a variety of workplace savings schemes that employers can provide to help employees save in the ...
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Analysis
Infographic: What workplace savings benefits do employers offer?
An infographic outlining the top five workplace savings benefits offered by employer respondents and the basis on which they are offered. (Source: Employee Benefits/Staffcare Benefits research 2017, published in May 2017.)Read more in How to help employees strike the right savings balance.!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","//e.infogram.com/js/dist/embed-loader-min.js");
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ArticleStarbucks UK enhances rental deposit loan scheme
Coffee organisation Starbucks has enhanced its rental deposit loan scheme for UK employees, enabling more staff to gain access to the benefit.The Home Sweet Loan scheme, which launched in September 2015, provides eligible employees with an interest-free loan, up to the value of a month’s salary, to cover the costs ...
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ArticleDebbie Lovewell-Tuck: The new world of financial wellness
As our inaugural Financial Wellness Week, in association with Neyber, draws to a close, it’s time to reflect on the trends and issues currently driving this area of the benefits market.The importance of financial wellness on the corporate agenda was cemented last week with the appointment of Guy Opperman as ...
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ArticleFinancial wellness in numbers
A round-up of some of the key facts and figures relating to financial wellness in the workplace:!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","//e.infogr.am/js/dist/embed-loader-min.js");
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OpinionJoanna Bean: Improving financial wellbeing at Samsung
Saving for retirement, or life after work as we call it at Samsung, is an important part of our approach to financial wellbeing and we incorporate this into everyday life and within our varied communications portfolio. It is important to talk to employees at every stage of their work-life journey ...
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OpinionMargaret May and Edward Brunsdon: Unravelling workplace financial wellbeing services
Over the past decade, increasing numbers of working-age people across the UK have found it hard to make ends meet. Economic austerity, welfare state retrenchment and depressed wages along with increased domestic and accommodation costs have contributed to an erosion of savings, rising household debt, revolving credit card use and, ...
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ArticleEXCLUSIVE: 26% run workplace financial education initiatives
EXCLUSIVE: Around a quarter (26%) of employer respondents have financial education initiatives in place, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that 32% are looking to implement financial education initiatives.While not directly comparable, 14% ...
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AnalysisHow does workforce mobility impact financial wellbeing?
Need to know:The workforce is becoming more nomadic. But any employee who changes address regularly can see their credit rating drop.Broader financial wellbeing issues can arise for employees that move jobs regularly, such as the risk of reduced pension contributions or not being able to access longer-term employee benefits.Employers can ...
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Case StudiesUK Power Networks counters employees’ financial struggles with benefits
UK Power Networks has just over 6,000 employees, including electricians and engineers who work across London and the east of England. The organisation’s employees cover affluent areas of London where even the country’s top earners struggle to get a foothold on the property ladder.It is an issue that Steve Remnant, ...