Opinion – Page 35
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OpinionHarriet Calver: Prioritising employee wellbeing in the workplace
Work-related stress and anxiety are at a record high, and this is one of the top causes of long-term absence in the workplace, yet few organisations are taking steps to properly address the issue.The top priority for most employers is maximising profit; to achieve this, employers need their staff performing ...
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OpinionJames Parker: What are the implications of Zurich's longevity swap transaction?
On 17 December, insurance organisation Zurich announced that it had entered into an 'enhanced pass through' longevity swap transaction, covering around £800 million of pensioner liabilities for a FTSE 100-sponsored pension scheme. Hymans Robertson and CMS acted as lead advisers to the pension scheme.The transaction was described as 'unique' by ...
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OpinionEmma Mamo: Recognition must be one part of a comprehensive wellbeing approach
In 2018, Mind surveyed more than 44,000 employees across upwards of 100 employers for our annual Workplace wellbeing index. We found that the key drivers for mental health were not just things like pace of work, workload and the physical environment, but motivation and relationships with managers. Employees need to ...
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OpinionEugene Farrell: Tackling stress head on - a business priority for 2020
We are at a critical moment in the nation’s mental health. Statistics published by the Health and Safety Executive (HSE) in October 2019 revealed that in Great Britain, work-related stress, depression or anxiety accounted for 44% of work-related ill health and 54% of working days lost in 2018 and 2019.It ...
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OpinionMichael Whitmore: Organisational practices can support mental wellbeing
Much of the mental health support provided by employers focuses on individual staff members, but it is equally important to consider how an organisation itself may need to change to effectively support employees.Evidence, found in Management of psychosocial risks at work: An analysis of the findings of the European Survey ...
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OpinionAnna Rogers: Bauer judgment means more grief for the Pension Protection Fund
Last month, the European Court of Justice (CJEU) ruled in Bauer that the current 50% minimum level of protection is too low if it means that the pension member is living below the 'at risk of poverty' measure in the member state concerned.The court did not agree with the Advocate-General ...
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OpinionTim Pike: Are we wedded to a gender pensions gap?
Women approaching retirement have typically accrued £51,000 in pension wealth, compared to £157,000 for men; this is a gender pensions gap of more than £100,000, according to a report published by the Pensions Policy Institute and Now: Pensions, in July 2019, Understanding the gender pensions gap.This is generally a result ...
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OpinionLucy Bennett: 2020 will see new regulatory requirements for pension scheme trustees
By 1 October 2019, trustees of occupational pension schemes, with a few specific exceptions, had to update their scheme’s statement of investment principles (Sip) to cover, among other things, the trustees’ policies on environmental and other sustainable investment issues.Further changes are coming in 2020. If an employer sponsors a scheme ...
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OpinionLovewell's logic: The NHS's move to greater flexibility
Last month, NHS England and Improvement appointed Jane Galloway to the position of head of flexible working.Often reported as a highly stressful and pressurised place to work for many, the NHS’ steps to create a culture of flexibility is a positive move. In its interim people plan, published in June ...
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OpinionKaren Thomson: Fostering diversity and inclusion in the year ahead
Moving into the new year is a fantastic opportunity for organisations to continue building on the progress they have made in 2019, but also start new initiatives, and come up with new solutions.For employers to get on the right path to deliver tangible results in diversity and inclusion, they should ...
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OpinionCarol Shaw: A change to recording daily working time?
Earlier this year, the European Court of Justice (ECJ) found that employers must record workers’ daily working time to ensure compliance with the Working Time Directive, EU legislation guaranteeing certain rights for workers and setting out requirements relating to working hours, rest breaks and annual leave.The WTD is implemented in ...
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OpinionClare Fletcher: The new year brings new thinking around pay and benefits
In the run-up to one of the most unpredictable elections on record, what can be said about 2020 in terms of pay and benefits?The Conservative manifesto repeats the party's commitment to "making sure work always pays". It promises no rises to income tax or national insurance contributions (NICs), and reaffirms ...
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OpinionLovewell's logic: The most wonderful time of the year...?
It’s the most wonderful time of the year… or is it? While many of us, myself included, are now fully embracing the festive season, decorating our homes, shopping for gifts and making plans to spend time with family and friends, for others, this can be a time of year to ...
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OpinionTim Middleton: Do pensions still have a role in attracting talented employees?
Decades ago, a pension scheme would have played a vital role in helping employers recruit and retain talented individuals.Today, however, things are significantly different. For one, employers are far less likelyto want to recruit employees who will stay with them to retirement. Moreover, as it is now a statutory requirement ...
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OpinionRebecca Thornley-Gibson: Asda’s own Supermarket Sweep
Organisations need to be agile in the way they react to change in their sector and the wider economy. However, changes inevitably have a people impact, and the current Asda employee relations dispute regarding changes to staff terms reflects the challenges in place for employers that need to maintain market ...
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OpinionLovewell's logic: Should employers publicly disclose parental leave policies?
Last week, parenting network Mumsnet called on FTSE 250 employers to publish their parental leave policies, after identifying that only 15 currently do so, despite the majority publicising details of other benefits they offer to staff.Why an organisation would choose not to publish details of its parental leave policies is ...
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OpinionPam Whelan: Addressing the problem of work-related stress
Stress affects us all. In the simplest way, it is the body’s response to pressure from situations or our surroundings. In many cases, stress can be helpful; for example, in public speaking, where the stress is short-lived and we can quickly reset to normal. Sometimes, though, stress becomes problematic, and ...
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OpinionCharlotte Gibb: Financial wellbeing benefits that work for everyone
Work has historically been positioned as the route out of poverty; however, with increased job insecurity and the gig economy, employment no longer comes with the guarantee of financial security.Mental health at work 2019: Time to take ownership, published in October 2019 by Business in the Community (BITC) in partnership ...
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OpinionJeremy Harris: Universities must review their pension strategies
With rampant news about the eight day industrial action by staff at 60 universities across the UK this week, it is hard to make sense of the history and reasoning behind the current strike, and, more importantly, why now is the time for universities to review their pension strategy.Back in ...
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OpinionTim Reay: A global benefits strategy can complement state provisions
What is taken for granted in one country may not be provided by the state in another, and one important role employers play is to support staff by filling in the gaps in the local state employee benefit provisions.The most well-known example, and one of the most costly ones for ...