All articles by System Administrator – Page 53
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Group risk - definitions - Group life assurance
Group life assurance, also known as death-in-service benefits, provides a lump sum for an employee's family should that employee die whilst in an organisation's service.
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Confessions of a benefits manager
Candid: Just when I thought it was safe to go back into the boardroom, the consultants are moving in again. We are complete suckers for consultants in this company. They tell us nasty stories about health and safety. They do ergonomic reviews for us. They tell us entirely pointless things ...
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Employee Benefits Summit 2007, Presentations
To view a presentation from the Employee Benefits Summit 2007, which was held in Jerez Spain from 13 to 15 June, please click on the ‘Download’ link next to the speaker name below.Photographs from the Employee Benefits Summit 2007 >Wednesday 13 June 2007Globalisation’s intangible – the global war for talentDr ...
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Flexible benefits - definition -Flexible benefits consultants
When designing and communicating a flexible benefits scheme, employers can use consultants which specialise in this type of benefits package. The cost of doing so will largely depend on the complexity of employers' ambitions.Flexible benefits consultants can also help to communicate a scheme at launch, by providing marketing expertise to ...
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Flexible benefits - definitions - Online modelling tools
The growth of online modelling tools has helped to aid employee understanding of flex. These enable employees to calculate the impact of different benefits choices in order to determine which is most suited to their needs.
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Flexible benefits - definitions - Pensions
If structured correctly, contributions to a defined contribution pension scheme can also be offered through salary sacrifice arrangements within a flexible benefits scheme in order to gain tax and NI advantages.
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Flexible benefits - definitions - Tax–efficient benefits
Flexible benefits schemes also typically include tax-efficient benefits such as childcare vouchers, bike loans, mobile phones, which are offered through salary sacrifice arrangements.A salary sacrifice occurs when an employee contracts to give up the right to receive a portion of their salary. This is used to provide a benefit, which ...
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Flexible benefits - definitions - Flexible benefits technology
The growth of flexible benefits technology means that employers which outsource the design and administration of their flex scheme to a third-party provider can either select from a low-cost off-the shelf option (which can make flex more affordable for small-to-medium organisations), or a bespoke scheme, tailored to their business’ needs.
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Communication - definitions - Benefits communication during recruitment and staff induction
In a competitive employment sector, it makes sense to let applicants know what benefits are on offer as these could help persuade them to join.†The majority of organisations now list details of their benefits package on their internet site, often under the careers section, in order to promote what is ...
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Communication - definitions - Online flexible benefits systems
Where flexible benefits are offered online, staff will be provided with a comprehensive list of what’s on offer. They will also be able to model the impact of selecting different benefits on their pay packet or benefits’ allowance.
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Communication - definitions - Telephone helplines, use of for communication benefits
Using benefits helplines or call centres is a common method used by large employers or employee benefits consultants to help employees get to grips with their reward or benefits package. A helpline may be as simple as a dedicated phone number into the HR department, or it may go to ...
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Communication - definitions - Staff magazines, use of for communicating benefits
Using your staff magazine to promote employee benefits is a powerful tool. A magazine can be used to advertise benefits, or an article can be written about a particular staff member, team or group of staff who are finding a particular benefit useful. Staff who read about their colleagues’ experiences ...
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Communication - definitions - Online benefits modelling tools
Modelling tools can be used to help communicate various benefits to staff and the impact of any decisions relating to those benefits.Modellers are now available around a number of different benefits. For example, pensions modellers can help staff work out the benefit they could receive if they were to increase ...
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Communication - definitions - intranet, use of for benefits communication
Using an organisation's intranet system to communicate benefits is a cost-effective way of providing a comprehensive benefits information service for staff. However, try to make it entertaining and interesting for employees to use, as nobody wants to read pages of text online.†Some intranets offer a chat room facility for staff ...
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Communication - definitions - Staff handbook, use of for communicating benefits
Staff handbooks have traditionally been used to set out all the benefits offered to the workforce. They can be sent out to employees at home, distributed at work or made available online.†Sometimes staff do not have time to read a booklet or are put off by having to wade through ...
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Communication - definitions -Total reward statements
Total reward statements put a value on the benefits provided to each employee in the form of an individual statement, either in a paper format or online. They essentially recognise that pay is not the only factor that helps motivate staff. They should include values for tangible benefits such as ...
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Benefits Administration - definitions - Third-party provider
A company, outside the employer, which processes, provides or advises on benefits administration on behalf of the employer. The services they provide range from sickness absence management systems to flexible benefits systems.
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Benefits Administration - definitions - Self-service administration systems
These self-service administration systems allow employees to access their personal details and update records such as a change of name or address.Depending on the sophistication of the software staff can also request holidays, report sickness absence, manage benefits or select flexible benefits. Those integrated with payroll software allow staff to ...
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Benefits Administration - definitions - Pension modellers
Pension modellers allow employees to calculate the value of their future retirement pension †based on their current pension contributions. Modellers vary in sophistication, but usually take into account age, gender, length of savings, possible investment performance and sometimes state pensions.Pension modellers are especially useful communication tools to demonstrate to employees ...