All articles by Tynan Barton – Page 38
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AnalysisHow can benefits support age diversity in the workplace?
Need to knowAs the UK population ages, supporting older employees in the workplace will become a more prominent issue.A benefits strategy does not necessarily need to be age-specific, but can focus on an employee’s life stage to have a bigger impact.Benefits such as flexible working, health and wellbeing initiatives, and ...
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Case StudiesPenguin Random House keeps its total reward offering up to date and informative
Penguin Random House keeps employees informed about their total reward package through its benefits portal.The portal offers the 2100 employees at the publishing organisation access to their individual total reward statements (TRS), as well as to its flexible benefits and employee discounts schemes.The TRS show the total value of an ...
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AnalysisTotal reward for the modern workforce
Need to know:Total reward strategies must develop in line with the profile of the modern workforce, including part-time and flexible-working employees, as well as a greater generational diversity.Employers should offer benefits around career and personal development, wellbeing, and recognition to attract and motivate a wide range of employees.Employers need to ...
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AnalysisWhat do employers need to consider around expatriate PMI pre-assignment?
Need to know:Prior to assignment, an employer can tailor its private medical insurance (PMI) plan to suit budgets or local markets.Employers need to make sure that they work with a provider, or broker, that has knowledge of global markets.Employers should make sure that the provider offers expats access to a ...
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Case StudiesRBS boosts employee motivation and engagement through its CSR approach
As part of its aim to become more efficient and environmentally responsible, Royal Bank of Scotland (RBS) launched a reward scheme that engages employees with its corporate and social responsibility (CSR) goals.Mike Lynch, sustainable workplace culture manager in the workplace specialist services team at RBS, says: “The bank is aiming ...
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AnalysisHow to incorporate corporate social responsibility into a motivation strategy
Need to know:Corporate and social responsibility (CSR) activities can include a range of initiatives such as payroll giving, charitable fundraising, volunteering, and environmentally-friendly schemes.While large employers have a duty to report their corporate sustainability actions, employers can benefit from promoting CSR through the attraction and retention of key talent.Engaging employees ...
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ArticleRBS rolls out sustainability engagement scheme
RBS has rolled out a sustainability engagement programme to staff at its 1,700 locations in the UK and Ireland following a pilot scheme in 2016.The Jump programme, provided by Green Rewards, was extended to all RBS employees in the UK and Ireland, comprising more than 60,000 individuals, on 25 March ...
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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 ...