All Employee Benefits articles in Web Issue – Page 412
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Article
Pensions auto-enrolment: Addressing the crisis
If you read nothing else, read this... Employees may regard auto-enrolment as just another tax on pay Firms that introduce auto-enrolment early could increase the pension value†Auto-enrolment is meant to spur on some of the seven million British workers who were not saving enough for their retirement, but employers are ...
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Article
Countrywide adds perks to voluntary benefits
Countrywide has introduced a health cash plan, bikes for work, payroll giving, and online discount scheme for its 9,500 staff.The health cash plans, offered on a voluntary basis, are aimed at making Countrywide’s range of health benefits more flexible. Marie Jay, head of strategic HR, said: “If staff had private ...
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Article
Benfield Motor Group adds eyecare discounts to voluntary benefits
Benfield Motor Group has added an eyecare discount option to its voluntary benefits scheme and is re-communicating the scheme using face-to-face sessions with staff.The communications sessions, by provider Personal Group, will take place throughout May at the motor group's 26 different sites around the UK.The scheme also includes a bikes-for-work ...
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Case Studies
RBS adds interest to total reward package
Royal Bank of Scotland’s (RBS) total reward strategy includes pay and employee benefits, but also focuses on learning and development for its 93,000 UK staff.RBS’s Your Choice programme includes healthcare benefits, cars, flexible working and payroll giving. It also offers is also a Your Development-branded strand, which is broken down ...
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Analysis
Dental benefits have many advantages
If you read nothing else, read this... Dental benefits can be used as an engagement and motivation tool. Good dental health can help to reduce sickness absence. Dental perks can help employees to ease the worry that may stem from lengthy NHS waits. Dental cover can also be extended to ...
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Analysis
Pensions governance: Which adviser are you going to call?
If you read nothing else, read this... To select the right adviser, an employer must thoroughly understand its own needs. Consultants offer a range of pensions services, from communication to investment advice and complex funding options. Independent financial advisers also offer advice to staff with less complex needs. The retail ...
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Article
Alec Towers joins Arcadia
Arcadia Group has appointed Alec Towers reward adviser.Towers’ previous roles include benefits analyst at Nomura International, compensation and benefits analyst at Legg Mason, and HR administrator at Aspen Re.Read more about jobs
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Case Studies
Case study: Allstate Northern Ireland staff sign up to save with corporate Isa
Technology and business services firm Allstate Northern Ireland has launched a corporate Isa with payroll deductions for its 1,900 employees.The WorkSave Isa, provided by Legal and General, was introduced at the end of November 2010 to tie in with Allstate’s annual bonus scheme in December. Managing director Bro McFerran thought ...
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Article
Asda Business Rewards launches dual shopping card
Asda Business Rewards will launch a new dual shopping card this summer.The cards, which are designed to be included in an employer's flexible benefits scheme, can be activated remotely.Two cards are provided to each employee who takes up the perk so that one can be given to their partner, spouse ...
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Article
Pensions auto-enrolment: No mixed messages
If you read nothing else, read this... Be clear on the workforce demographic and tailor communications accordingly. Websites, intranets, email and podcasts can all be effective channels . In some industry sectors face-to-face communication and workshops can be a better option. Overloading staff with information can lead to apathy. Be ...
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Article
Pensions auto-enrolment: Robust processes
If you read nothing else, read this... Employers need to be aware of administrative challenges, such as auto-enrolling staff every three years. Organisations need to develop robust administrative processes, which are regularly reviewed.†Organisations need to develop robust, regularly-reviewed administrative processes in order to keep on top of requirements such as ...
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Article
Pensions auto-enrolment: Factoring in costs
If you read nothing else, read this... Measures, such as salary sacrifice, can help employers reduce costs. Creating a two-tier pension system might be perceived as unfair.†Auto-enrolment could collectively cost employers over £3 billion a year, so employers need to get a look at all options to keep a cap ...
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Analysis
Pensions governance: Technology can handle auto-enrolment
If you read nothing else, read this… Administration systems will identify eligible staff, calculate contributions, handle legislative changes and relay information to payroll and providers. Employers should ensure the system handles data carefully to avoid mistakes such as taking an employee’s pension contribution twice. Employers must decide how ...
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Analysis
Striking a balance with international healthcare
If you read nothing else, read this... Expatriate healthcare policies typically differ from local policies in the level of cover they provide and the inclusion of repatriation services. A third category, the locally hired foreigner coverage, is now emerging in China. To manage the differences between categories, employers should ensure ...
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Analysis
Debbie Lovewell, deputy editor of Employee Benefits: Battle goes on to get the best value from benefits
Although the country has been out of recession for a couple of years now, employers are still facing a number of challenges posed by the economic climate. In particular, budgeting for benefits in a stagnant economy can cause headaches for benefits professionals as they try to strike a balance between ...
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Article
Confessions of a benefits manager: A demanding job
The potential new European legal director is pestering Candid about her reward offer, but negotiations seem a little one-sidedIf you were to ask me what our reward philosophy is, I would have to say the phrase is an oxymoron in this place. ‘Philosophy’ means higher thought or wisdom, and there ...
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Article
DHL extends voluntary benefits communications
DHL has extended voluntary benefits communications to all 47,000 staff in its eight divisions.Provider Personal Group began face-to-face meetings with employees in DHL’s supply chain division in December 2010. In March this year, DHL began to communicate the discounts across all divisions, using meetings, roadshows, emails and a helpline, plus ...
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Article
The Savoy sees large take up of voluntary benefits scheme
Since The Savoy launched a voluntary benefits plan for its staff at the end of 2010, the majority of the hotel’s 540 employees have signed up.The MySavoy scheme, provided by Asperity Employee Benefits, consists of childcare vouchers, a bikes-for-work scheme and employee discounts.The hotel’s workforce is predominantly offline, so the ...
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Analysis
The big squeeze on benefits
If you read nothing else, read this… Rising inflation can pose challenges for reward and benefits professionals because it pushes up costs. Average earnings growth stood at 2.2% in February this year. Rising inflation will affect pensions, with final salary schemes being the hardest hit. Employers can take a number ...
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Article
Health Shield research: Fitness is one of fastest growing healthcare benefits
Fitness options are one of the fastest-growing and most popular healthcare benefits, according to research by cash plan provider Health Shield.A survey of more than 20,000 cash plan members, found that in 2010 65% of 18 to 24-year-olds said they valued having the fitness benefit as part of their health ...