All articles by kscott – Page 27
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Case StudiesThe Phoenix Group places wellbeing at the centre of benefits strategy
After an acquisition in September 2018 that saw life fund consolidator The Phoenix Group grow from 800 to around 4,300 employees in the UK, the organisation set out to ensure that benefits provisions are clearly aligned, and that there is a strong emphasis on employee wellbeing.Although the acquisition of Standard ...
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Case StudiesThe benefits offered by The Phoenix Group
The benefits offered by The Phoenix Group, excluding Standard Life Assurance:Pension and protectionFor auto-enrolment purposes, The Phoenix Group provides a defined contribution (DC) pension scheme, matching employee contributions up to 5%. From April 2019, employees contribute a minimum of 2% of their base salary and the organisation contributes 5%, in ...
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ArticleTotal pay has increased by 1.6% in real terms since February 2018
Total pay for employees in the UK, including bonuses, increased by 1.6% in real terms between December 2017 to February 2018 and December 2018 to February 2019, according to research by the Office for National Statistics (ONS).The Average weekly earnings in Great Britain: April 2019 report also found that regular ...
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ArticleCisco Systems and KPMG shortlisted for Best healthcare and wellbeing benefits
Technology organisation Cisco Systems, professional services business KPMG and law firm Norton Rose Fulbright are among the organisations shortlisted in the Best healthcare and wellbeing benefits, large employer category for this year's Employee Benefits Awards.The Best healthcare and wellbeing, large employer award, sponsored by healthcare insurer Simplyhealth, will celebrate the ...
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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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ArticleSeven in 10 engineers do not receive workplace perks
Seven in 10 (70%) engineers do not receive workplace perks, according to research by online job site CV Library.The survey of 1,200 UK professionals also found that, although 56% of engineers want flexible working opportunities, only 40% are currently offered them. Comparatively, 60% of employees in the engineering sector have ...
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ArticleTransport for Wales signs Time to Change pledge to support employee mental health
Train operating organisation Transport for Wales has signed the Time to Change employer pledge to support mental wellbeing among its 80 employees.The Time to Change employer pledge, which is operated by charity Mental Health at Work, enables organisations to publicly demonstrate their commitment to tackling the stigma and discrimination associated ...
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ArticleNearly 12.9 million people were covered by group risk schemes in 2018
Nearly 12.9 million individuals were covered by group risk schemes at the end of 2018, according to research by insurance provider Swiss Re.Its Group watch 2019 report, which is based on data collected from 13 product providers in the group risk market in the UK and 20 employee benefits consultants, ...
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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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OpinionNichola Hawden: How will auto-enrolment increases impact reward?
When auto-enrolment was first introduced in October 2012, the minimum total contribution rate for a workplace pension was a modest 2%, with employers contributing a minimum 1%. From 6 April 2018, the total minimum contribution rate increased to 5%, with 2% contributed by the employer, and from 6 April 2019, ...
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ArticleThree in 10 believe that only those in permanent roles are entitled to minimum wage
Three in 10 (30%) respondents believe that only those who are employed in permanent job roles are entitled to the national minimum wage, according to research by the Department for Business, Energy and Industrial Strategy (BEIS).Its survey of 2,001 employees aged between 16 and 64 also found that 32% of ...
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ArticleBank of America to increase minimum wage to $20 an hour
Financial services organisation Bank of America is to increase its minimum wage to $20 (£15.27) an hour for 205,000 US-based employees.The pay increase will be delivered over a two-year period, starting on 1 May 2019 when the bank’s minimum hourly wage will increase to $17 (£12.98). This will continue to ...
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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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ArticleNestle rolls out pets at work scheme to York-based employees
Food and drink organisation Nestle has rolled out a Pets at Work (Paw) scheme to employees based at its York office, enabling dog owners to bring their pets to work with them.The scheme was introduced for employees based at Nestle House in York on Thursday 4 April, making it the ...
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ArticleSandwell Council signs domestic abuse charter
Local authority Sandwell Council has signed the Work to Stop Domestic Violence Charter, to support and aid employees who experience domestic abuse.The council, which employs 4,000 staff, formally signed the Charter at a full council meeting on Tuesday 9 April 2019.The Work to Stop Domestic Violence Charter was launched in ...
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ArticleGoodman Masson and Sky shortlisted for Best employee engagement strategy
Financial recruitment organisation Goodman Masson and telecommunications business Sky have been shortlisted in the Best employee engagement strategy category at the Employee Benefits Awards 2019.This award recognises and celebrates an employer that has used benefits within its wider reward strategy to engage employees with the organisation, boosting productivity, satisfaction and ...
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ArticleThe top 10 most read stories: 4 April-10 April 2019
The top 10 most read stories on www.employeebenefits.co.uk between 4 April and 10 April 2019 were: Staff at three West Midlands colleges strike in dispute over payDiageo introduces 26 weeks of paid parental leave for UK staffStarbucks extends education benefit to 5,000 UK employeesVibrant Vegan Company seeks director of tasteThe ...