All articles by Tynan Barton – Page 28
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ArticleGovernment to introduce neonatal pay and leave entitlements for working parents
Budget 2020: The government has announced today (11 March 2020) that it will create a new neonatal leave and pay entitlement for working parents.The benefit will be applicable to employees whose babies spend an extended period of time in neonatal care. It will provide up to 12 weeks paid leave ...
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ArticleTapered annual allowance threshold for pension tax relief to increase by £90,000
Budget 2020: Chancellor Rishi Sunak announced today (11 March 2020) that that the tapered annual allowance threshold for pensions tax relief will be increased by £90,000.This means that from 2020/2021, the threshold income will be £200,000; those employees that earn below this level will not be affected by the tapered ...
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Case StudiesThe benefits offered by Barratt Developments
The benefits offered by Barratt Developments:Pensions and protectionA trust-based defined contribution (DC) pension for all employees. Employees contribute 5% for a 10% employer contribution.Employer-funded group income protection for management-level employees.Life insurance for all employees, provided on an employer-funded basis.Employer-funded personal accident insurance for all employees.Pay and share schemesAn annual bonus ...
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Case StudiesBarratt Developments uses benefits package to attract and retain talent
One of the most significant challenges for housebuilding organisation Barratt Developments is attracting and retaining talented people against the backdrop of a major skills crisis in the construction industry.Influenced by the government’s commitment to build 300,000 new homes every year, an ageing workforce, and a lack of younger skilled employees ...
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ArticlePay gap sees the average female employee work for free for two months per year
The average female employee works for free for the equivalent of two months per year due to the UK's gender pay gap, according to analysis from the Trades Union Congress (TUC).The research, released on Women's Pay Day today (4 March 2020), the date on which female employees start getting paid ...
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ArticleA third of UK employees feel appreciated by managers at work
More than a third (36%) of UK employees say they feel appreciated by their managers at work on an ongoing basis. This places the UK above several European countries, according to research by SD Worx.The research looked into the satisfaction, motivation, involvement and engagement of 4,500 employees across Germany, France, ...
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ArticleEXCLUSIVE: Bespoke benefits packages are key to attracting workforce of the future
Employee Benefits Connect 2020: To meet the needs of future workforces, employers must provide a benefits package with bespoke options for employees, says Jo Monk, HR director at ALD Automotive.Addressing delegates at Employee Benefits Connect 2020 on Wednesday 26 February 2020, Monk discussed some of the difficulties employers face in ...
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AnalysisWhat are the key employee engagement challenges for the next decade?
Need to know:Strong levels of employee engagement will be needed to help build resilient organisations in competitive and evolving markets.Work is becoming more employee-led, and employers will need to focus on being agile, flexible and catering for the individual.A holistic approach, which encompasses all elements of wellbeing, the employee experience, ...
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Case StudiesOpen Data Institute focuses on individual engagement through regular communication
At the Open Data Institute (ODI), engagement among its 50 employees is achieved via regular, all-company communications and meet-ups, and providing a sense of purpose at work.As a small employer, the ODI uses the nature of its work, which is to advocate for the use of open data to support ...
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OpinionStephen Perkins: Benefits management involves knowing employees' needs
A single cash award may seem the simplest method of reward, and one which allows employees to control what they do to benefit from their earnings, but benefits have become part of an expected package.How does an employer offer benefits that employees want and value, compared with cash? How can ...
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OpinionSimon Richardson: Employers must convey the value of benefits to staff
In these days of internet and telephone banking, most of us check our balance each day, perhaps even more just before payday. However, we do not check the value of our pension statement, which is especially important if we are in a defined contribution (DC) plan subject to the vagaries ...
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Case StudiesThe benefits offered by BW
The benefits offered by BW:Pension and protectionDefined contribution (DC) group personal pension (GPP) scheme for all employees, with a 4% contribution from both the employer and the employee.Group income protection offered to all staff on an employer-paid basis.Critical illness insurance for all employees, which pays up to 75% of salary ...
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Case StudiesBW uses benefits to attract top talent in competitive industry
There is a war for talent in construction; a lack of skilled individuals entering the industry, means organisations are fighting for the top people. For building fit-out and refurbishment organisation BW, winning this war means offering a valued and attractive employee proposition.Penny Cresswell, head of HR at BW, says: “As ...
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AnalysisHow to guide employees through a pensions consolidation process
Need to know:As individuals increasingly hold multiple jobs throughout their working lives, they may be at risk of missing out on retirement income if previous pension pots are forgotten.Consolidation can give employees a full overview of their retirement savings in one place, and may offer lower charges and better tools ...
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OpinionMichelle Cracknell: Is pensions consolidation always the right choice?
Employers have to provide a workplace pension and, with the average person having 11 jobs in their lifetime, according to the Department for Work and Pensions (DWP), this could lead to millions of dormant or lost pension pots. Keeping track of multiple pensions is hard and will continue to be ...
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Case StudiesNorth of England P&I Association engages staff with options during pensions change
When the North of England P&I Association (Nepia) moved from one group personal pension (GPP) plan to another in 2018, following an internal restructure, employees were supported with information and education on how to transfer to the new scheme and consolidate any other pensions they might have from previous jobs.The ...
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OpinionChintan Gandhi: Employers can help inform staff about pensions consolidation
The Association of Consulting Actuaries (ACA) welcomes the continued drive towards consolidating smaller occupational defined contribution (DC) schemes and members' pension pots. At a scheme level, it is widely recognised that better member outcomes can often be achieved in larger schemes with stronger governance, well-designed and diversified investment strategies, and ...
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OpinionPip Hulbert: Mental health support needs a year-long focus
Mental health is rightly becoming a priority for every kind of business, yet conversations around the topic are still too often shrouded in stigma.That has got to stop. Talented people are the beating heart of business, and we want everyone to feel that it is okay to raise their hand ...
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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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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 ...