All articles by Nic Paton – Page 6
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Case StudiesPCA Predict engages staff through a tailored approach to benefits
Employee engagement is an important focus for Worcester-based technology firm PCA Predict, and one way it is looking to achieve this is through the use and delivery of employee benefits.The organisation, which provides address e-commerce validation technology for customers such as Tesco, Dow Jones and Disney, employs more than 55 ...
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Case StudiesAKQA engages employees with retirement planning through one-to-one support
With a predominantly younger workforce, generating interest in, and engagement with, pensions and retirement income can be a challenge for digital agency AKQA.The agency, which employs 400 people in the UK but has 17 offices globally, offers a contract-based defined contribution (DC) group personal pension scheme, into which employees are ...
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ArticleHow to help employees overcome the disconnect between their expected retirement savings and reality
Need to knowAuto-enrolment has improved take-up and membership of pensions but there is still a disconnect between the retirement income people aspire to and what they will actually achieve through saving.Online financial education tools have a part to play but on their own are not the answer; one-to-one and face-to-face ...
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Case StudiesUniversity of Reading sees momentum grow around salary sacrifice car scheme
The University of Reading launched a salary sacrifice-based car leasing scheme called Mycar through Leasedrive (now combined with Zenith) back in June 2014.The scheme has been something of a slow burn in terms of growth, with currently around 20 to 25 members, but is nevertheless seen as an important part ...
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AnalysisWhat would a future without salary sacrifice car schemes look like?
Need to knowThe government has said it is considering limiting the range of benefits available through a salary sacrifice arrangement.While providers are confident car schemes will not end up in the firing line, it is possible alternative models may need to be looked at.These could include affinity, employee car ownership ...
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AnalysisFive key messages to communicate around pensions re-auto-enrolment
Need to knowPensions re-enrolment happens at an employer’s three-year staging date anniversary.Explain the change early, highlight what those employees are outside of the scheme have been missing out on but make it clear they can stay opted out, although they must actively say so.Keep messages bite-sized, accessible and relevant.Given the ...
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Case StudiesSAS offers benefits to reflect lifestyle, not generation
With some 700 employees in the UK, software organisation SAS already has a five-generation workforce.Chris Carter, head of reward, says: “The multi-generational issue is really coming to life now. It is becoming more and more relevant as we talk about how we look at, design and use benefits.“SAS is quite ...
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AnalysisHow to create a benefits strategy for an 'ageless' workforce
Need to know:Workplaces are becoming increasingly multi-generational.But this does not necessarily mean employee benefits should also become increasingly segmented and generation-specific.The answer is likely to lie more in segmentation and targeting of benefits communications than employee benefits themselves.Many workplaces are becoming ever more age-diverse as the working population ages, and ...
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Case StudiesScottish Power introduces tool to help staff understand retirement outcomes
Energy firm Scottish Power has two defined benefit pension schemes, with some 4,000 members but, since 2006, has required all new employees to join a defined contribution (DC) stakeholder pension, provided by Fidelity. This currently has around 2,500 members.In February, the organisation introduced a new tool, called Guided Outcomes, provided ...
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AnalysisHow can employers help staff maximise their options under the pension freedoms?
Need to know:Some employers have adjusted their pension schemes in response to the pension freedoms, and others are investing more time and effort in offering financial education.While some, often wealthier and more financial savvy, employees have taken advantage of the new freedoms, many others are struggling to navigate the new ...
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Case StudiesUniversity of Lincoln offers tailored financial education to staff
The combination of pensions freedoms, reforms to the Universities’ Superannuation Scheme (USS) and The Teachers’ Pension, relatively low pay awards in recent years and the fact more academic staff now work on a sessional or contract basis means there is a huge education piece to be had around finance and ...
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AnalysisWhat are the key areas of focus for financial education?
Need to know:Demand for financial education is growing, with the changing pensions landscape a key driver.Investing in this area can help employees to engage with flexible benefits packages and potentially reduce anxiety and stress around money.Training is most effective when it is personalised and tailored to the specific employee demographic, ...
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AnalysisWhat impact will the insurance premium tax rise have on healthcare benefits?
Need to know:Insurance premium tax (IPT) increased from 6% to 9.5% from 1 November 2015, although there is a transitionary period until the end of February 2016.This will affect private medical insurance (PMI) premiums in particular, but there will also be a knock-on effect on national insurance (NI) contributions and ...
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ArticleBuyer's guide to car salary sacrifice schemes 2015
Despite worries over the future of salary sacrifice arrangements after the Government announced it intended to monitor such arrangements in its July 2015 Budget, car salary sacrifice schemes remain a popular choice with businesses and their employees.A report from consultancy firm OC&C in 2014 predicted car salary sacrifice could account ...
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Case StudiesAge UK sets example for benefits for the over-40s
In May, the charity Age UK launched a programme to help its 2,800 employees, two-thirds of whom are aged over 40, better plan their working lives and prepare for retirement.Its Extending Working Life and Planning for Retirement programme includes midlife career reviews, health assessments , and financial and retirement-planning advice ...
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AnalysisThe cost impact of an ageing workforce
If you read nothing else, read this…As the workforce ages, employers will need to rethink the design and provision of healthcare and group risk benefit offerings.Limited-term or flexible group income protection (GIP) provision is likely to become more commonplace, as employers try to retain some form of provision for older ...
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Analysis
29, Exploring the myths behind company car schemes
If you read nothing else, read this…Common fears among employers include the perceived administrative burden or exposure to corporate risk through duty-of-care requirements.Employers can work closely with providers to understand the risks and costs involved in providing a scheme.Employers have a range of options of how to provide company cars.The ...
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Case StudiesAker Solutions benchmarks benefits globally
The company benchmarks its benefits package on a global basis in order to better understand what the market norms are in each of the countries in which it operates.Philip Hutchinson, head of reward at Aker Solutions, says it is all about combining a global philosophy with local principles; combining a ...
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AnalysisHow to align international benefits with business objectives
If you read nothing else read this…Aligning an international benefits strategy with global business objectives can improve efficiency, administration and bring economies of scale.Carrying out regular country-by-country audits is a good idea, but many employers fail to do so.It may be helpful to bring in a consultancy with international experience.International ...
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Case StudiesBritish Sugar revamped benefits to suit modern workforce
“When I look at the discussions going on, I do think there is one thing the industry often misses,” he says. “When thinking about total reward, it must not just be about pay or benefits, but also about things such as learning and development, the working environment, leadership and the ...