All articles by Tynan Barton – Page 38
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ArticleJLL engages staff with sharesave scheme through digital communications
Professional services firm JLL is moving away from paper-based means of communicating its share schemes to online methods to better reflect the ways its employees carry out the majority of their work and personal transactions.With 4,000 employees across four divisions, JLL currently has 1,000 members saving into a three-year sharesave ...
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ArticleHow to effectively communicate share schemes
Need to know:Employers need to find out what communication methods are preferred by their workforce.Digital communications continue to be popular, and augmented reality is now also being used to promote and engage employees with share schemes.More employers are supporting employees with financial education around share schemes.The communication methods used in ...
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ArticleMaster trust tax registration process to be aligned to regulator's regime
Spring Budget 2017: The tax registration process for master trust pension schemes will be amended to align with the Pensions Regulator’s (TPR) authorisation and supervision regime.The changes to the registration process were announced in the Spring Budget 2017 policy paper. The alignment aims to increase consumer protection and improve compliance.Under ...
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ArticleGovernment to monitor national insurance employment allowance
Spring Budget 2017: The government has announced that national insurance (NI) employment allowance is being actively monitored by HM Revenue and Customs (HMRC).Chancellor Philip Hammond announced the move in the Spring Budget 2017, following reports of some organisations using schemes to avoid paying the correct NI contributions.If avoidance continues, the ...
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Case StudiesThe benefits offered by Metro Bank
The workplace benefits on offer at Metro Bank include:Pension and group riskGroup personal pension plan. Contribution levels are set according to seniority, starting at 3% employee contribution and 6% employer contribution, then rising to 4% and 8%, with a maximum 5% employee and 10% employer contribution.Life assurance.Healthcare and wellbeingPrivate medical ...
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Case StudiesMetro Bank engages employees with business growth through share options
Still a fairly recent addition to the high street, Metro Bank opened its first branch in 2010 and was one of the first high-street banks to open in the UK for over 100 years.Its employee base has grown steadily year on year to reach 2,700 employees, but with rapid growth ...
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ArticleEngaged employees are critical to business growth
Employee Benefits Connect 2017: Organisations need to create a working environment that engages employees in order for the business to grow.Addressing delegates in the conference session ‘Putting people first: The importance of being human’ at Employee Benefits Connect 2017, Rachel Clacher (pictured), co-founder and director at Moneypenny, explained how the ...
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ArticleGeneration Y leaders need a compelling employee value proposition in today's workplace
EB Connect 2017: Future workplaces will be vastly different to today as generation Y employees require innovative ways of working, according to Adam Kingl (pictured), executive director of thought leadership at the London Business School.Addressing delegates in the opening keynote session at the 6th annual Employee Benefits Connect, Kingl explained ...
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ArticleWhat should employers expect from today’s pension trustee board?
Need to know:Trustees of defined contribution (DC) pension schemes have been placed under the spotlight, leading to a greater focus on governance.Trustees will be under more pressure from employers to ensure that the objectives of a pension scheme are being met.Auto-enrolment, and the increase in the number of savers into ...
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ArticleHow will the changes announced in the Autumn Statement affect group risk cover?
The Autumn Statement 2016 announced the outcome of the government’s consultation on restricting the fiscal advantages of salary sacrifice arrangements to benefits so that they are more equitable and reflect provision that the government specifically wants to encourage. As largely anticipated, the tax and employer national insurance (NI) advantages of ...
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OpinionMiranda Seath: Employees need to recognise the importance of seeking financial guidance
Chancellor Philip Hammond avoided throwing any deliberate hand grenades at pensions policy in the Autumn Statement 2016. There was no tinkering with the triple lock or pensions tax relief despite speculation from some commentators that there might be. Although the triple lock looks to be under threat after 2020, Hammond ...
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Case StudiesThe benefits offered by Hays
Pension and group riskGroup personal pension (GPP) with varying contribution and employer-matching levels depending on job grade.Life assuranceCritical illness insuranceHealthcare and wellbeingPrivate medical insuranceDental insuranceEyecare vouchersGym and fitness centre discounted membershipEmployee assistance programmeWork-life balanceChildcare vouchersHolidayOther benefitsSharesave (save as you earn (SAYE)) schemeEmployee loan schemeBikes for workTravel insuranceGadget insuranceDining ...
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Case StudiesHays highlights importance of wellbeing through benefits proposition
Global recruitment firm Hays has taken steps to ensure its benefits proposition is valued by, and appeals to, all employees.Hays operates across 33 countries around the world. In the UK and Ireland, it has over 100 offices and around 3,500 employees. For Rosemary Lemon, group head of reward, it is ...
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ArticleHow can employers incorporate the tax-free childcare scheme into their caring benefits policies?
Need to know:The government’s new tax-free childcare scheme is due to launch from early 2017 and will take the responsibility of providing access to childcare support away from the employer.The existing childcare voucher scheme will remain open to new entrants until April 2018.Employers should encourage employees to assess their own ...
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Case StudiesAdmiral Group provides tools to help staff manage financial concerns
Insurance group Admiral offers its employees financial education through its Ministry of Money programme.The Ministry of Money, represented by a green pig, is designed to be a humorous way to get more serious messages across to the workforce. Admiral also runs a Ministry of Health to focus on health and ...
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ArticleHow to encourage employees to talk about finances in the workplace
Need to know:Unsecured debt in UK households is at a record high.A financial education programme to address sensitive financial issues should incorporate all benefits, including employee assistance programmes (EAPs) and retail discounts.Employers can use a range of communication methods, but they must assure employees that they can discuss sensitive subjects ...
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ArticleThe top issues a financial education strategy should incorporate in 2017
Need to know:Giving employees guidance around effective retirement planning is a key issue that a financial education strategy should focus on in 2017.Financial wellbeing in the context of broader employee wellbeing is also set to continue to be a key trend.Employers will also need to consider educating staff about alternative ...
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Case StudiesThe benefits offered by Norton Rose Fulbright
The workplace benefits on offer at Norton Rose Fulbright include:PensionGroup personal pension for all employees, with a 1% employer and 1% employee contribution.The employer offers matching contributions up to a 5% employee contribution.The organisation auto-enrolled in 2013, and auto-re-enrolled in November 2016.Group riskGroup income protection, employer paid.Life assurance, employer paid.Healthcare ...
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Case StudiesNorton Rose Fulbright engages employees with reward and benefits platform
In 2016, Norton Rose Fulbright focused its benefits strategy towards creating a proposition that engages all employees.With 1,100 employees and 200 partners in the UK, the law firm committed to review and refresh its benefits each year to make sure they are fit for purpose and that employees are engaging ...
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Case StudiesUniversity of Reading recognises employees with gift cards and vouchers
The University of Reading awards vouchers or gift case to staff in recognition of a job well done.Its online recognition scheme, Celebrating Success, was introduced in 2012 as a means for managers to offer employees an immediate reward, as opposed to waiting for the annual pay review or payroll cycle. ...