All articles by kscott – Page 41
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AnalysisDo group risk benefits need a makeover?
Need to know:Employers and providers might want to consider re-branding group risk benefits to help clarify the purpose of each product.A multi-media communications approach, using digital, paper and face-to-face communications, is best for ensuring engagement.Employers should strive to increase take-up and awareness of value-add services to impact employee absence, presenteeism ...
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OpinionKatharine Moxham: How can employers promote group risk to increase interest?
Employers want to provide an engaging package for their people. As part of that package, group risk benefits, such as employer-sponsored life assurance, income protection and critical illness, throw out a financial lifeline when it is most needed. However, these benefits can be wallflowers because they provide for catastrophic events, ...
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ArticleAverage salaries in the UK increased by 7.6% over 2018
Average salaries in the UK increased by 7.6% over 2018, according to research by independent job website CV Library.The website's analysis of its 2018 job market data, compared to corresponding 2017 figures, found that average salaries have increased the most in Glasgow over the course of 2018, rising by 11.3% ...
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ArticleIllegal Pete's raises minimum wage to $15 an hour for tipped, hourly paid staff
US-based Mexican restaurant chain Illegal Pete's has raised its minimum starting wage for tipped, hourly paid employees to $15 (£11.77) an hour, effective from January 2019.This equates to a $6 (£4.71) pay rise since Illegal Pete's last increased its minimum starting wage in 2015 to $9 (£7.06) an hour.The pay ...
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Article
Poll: What is the key driver for your organisation’s benefits strategy in 2019?
[polldaddy poll=10204467]
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Case StudiesDAC Beachcroft uses financial education to encourage active investment choices
DAC Beachcroft, which has 2,230 UK-based employees, held a pensions roadshow at its Bristol office in September 2018, in conjunction with Scottish Widows. This enabled employees to book one-to-one consultations and attend a presentation on fund performance and available investment plans.Sarah Young, head of reward at DAC Beachcroft, says: “People ...
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AnalysisHow to encourage active decision-making surrounding pension investments
Need to know: Employees can self-select their pension fund, rather than remaining invested in the default option; this can help staff better tailor investments to their personal circumstances.Financial education around available pension fund options can help employees make informed, active investment decisions.Communications should be clear, simple and feature a mix ...
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Case StudiesRSM encourages risk-profiling to engage employees with pension investments
Audit, tax and consulting organisation RSM created its defined contribution (DC) pension scheme in 2010 without a default investment fund, encouraging active decision-making among its 3,600 UK-based employees.RSM’s online joining process encouraged staff to utilise a risk-profiling tool, provided by Aviva. This aligned with the available investment funds, including five ...
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OpinionDianne Day: Should workplace pension members select their own investment?
Most UK employees saving into traditional defined contribution (DC) pension schemes do not make investment choices; instead, they choose to leave their money in the hands of trustees. From my experience, across the UK, around 80% to 90% of workplace pensions are in default funds, but other self-select choices are ...
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ArticlePoll: More than a third rely on unpaid leave for parents caring for sick children
Employee Benefits poll: More than a third (37%) of respondents' organisations rely on unpaid leave for employees who need to care for their sick children.A straw poll of www.employeebenefits.co.uk readers, which received 94 responses, also found that 33% of organisations offer flexible working arrangements to help working parents care for ...
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Poll: How do you support employees with their mental health in January?
[polldaddy poll=10195402]
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ArticleMidlands-based Two Sisters staff awarded 9.3% pay rise
Around 1,500 Midlands-based employees at food manufacturer Two Sisters Food Group, who are members of the trade union Unite, have been awarded a two-year pay deal.A spokesperson for Two Sisters said: "We made a commitment to work with Unite with regard to flexibility around production, and recognising and rewarding our ...
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OpinionChristopher Brooks: Should employers default staff into pensions guidance?
Pension freedoms have opened up a brave new world of financial decision-making. While this can be a positive, a typical individual accessing their pension is now expected to make decisions that balance present and future spending needs, while factoring in information about complex products of which they have no previous ...
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OpinionDaniela Silcock: Should employers default staff into pensions guidance?
In 2012, the majority of active pension savers were in defined benefit (DB) schemes and the majority of pensioner income, after state pension and benefits, was from DB pensions, according to the Department for Work and Pensions' (DWP) Pensioner’s income series statistics, last published in March 2018.Auto-enrolment has now finished ...
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OpinionMichelle Cracknell: Should employers default staff into pensions guidance?
At The Pensions Advisory Service (TPAS), we believe that automatically arranging a guidance session for employees at the point when they start to think about taking their benefits is essential in order to make seeking help with pensions the social norm.Currently, a vast majority of people are retiring with some ...
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OpinionHina Belitz: Harassment and bullying - employers are letting themselves down
In a dramatic wake-up call for the legal profession to examine its culture and working practices, the preliminary findings of a recent International Bar Association (IBA) survey, revealed in October 2018, found that bullying and sexual harassment are rife.According to more than 5,000 lawyers in 120 jurisdictions, one-third of male ...
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ArticleEXCLUSIVE: Mace hosts wellbeing week for 6,300 global staff
EXCLUSIVE: Construction and facilities management organisation Mace hosted a wellbeing week for its 6,300 worldwide employees in November 2018, to help launch its annual engagement and wellbeing survey, as well as to align with its five-year health and wellbeing plan.Mace has employees operating in over 40 countries, with more than ...
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ArticleBrighton-based Wetherspoon employees win pay rise following strike action
Employees working for popular pub chain Wetherspoon in Brighton have received a pay increase in response to strike action conducted in October 2018.The pay increase amounts to an additional 60p per hour for Brighton-based employees; this consists of 40p due to changes to employees' pay bands, as well as an ...
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ArticleMore than 1.4 million employers complete auto-enrolment duties
Around 1.4 million (1,418,680) UK employers have completed their pensions auto-enrolment duties as at November 2018, according to research by The Pensions Regulator (TPR).Its Declaration of compliance report: July 2012-end November 2018, which is based on information submitted by employers when they complete their declaration of compliance documentation, also found ...
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ArticleMonese gains living wage accreditation
Mobile banking organisation Monese has been accredited as a living wage employer by the Living Wage Foundation.The London-based organisation has committed to paying its 75 permanent employees, as well as any third-party contractors, at least the voluntary living wage rate of £10.55 an hour for staff working in the capital, ...