All Employee Benefits articles in Web Issue – Page 507
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Article
Westfield Health launches hospital treatment insurance
Westfield Health has launched hospital treatment insurance that offers employees access to more than 1,300 surgical and medical procedures.The cover, which starts at £1.24 per employee per week, enables employees to receive treatment at any hospital in the UK where private treatment packages are available.The range of procedures covered include ...
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Article
Co-operative Employee Benefits links with Co-operative Bank to launch current account benefit
Co-operative Employee Benefits has linked with The Co-operative Bank to allow employers to offer staff access to the bank’s Current Account Plus, with a £100 cashback.To qualify for the £100 cashback, employees must open a Current Account Plus before 31 December 2012, use the dedicated switching service to transfer a ...
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Article
The Pensions Regulator publishes guidance on DB pension funding
The Pensions Regulator (TPR) has published guidance on how funding valuations should be approached in the current economic climate.It applies to approximately one-third of the UK’s 6,500 defined benefit (DB) pension schemes, and about 4 million of the 12 million DB memberships. The guidance is aimed at employers and trustees ...
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Article
BAE Systems introduces occupational health and wellbeing facility
BAE Systems has opened an occupational health and wellbeing facility at its military air and information site in Samlesbury.The facility is reflective of the defence, security and aerospace firms’ aim to adopt a holistic approach to the health and wellness of its 4,000 staff.It provides a range of services for ...
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Analysis
Top 10 reasons to introduce a bikes-for-work scheme
If you read nothing else, read thisBikes-for-work schemes can have a number of advantages for employers and staff.Through such schemes, employers can loan bikes and accessories to staff with payment made via a salary sacrifice arrangement, which results in tax savings for the employee, and national insurance savings for the ...
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Article
Benefits research 2012: Legislation
This year will finally see the introduction of legislation under the Pensions Act 2008. From October, the first tranche of employers (those with more than 120,000 staff) will be required to comply with the reforms, which will see the introduction of automatic enrolment to a qualifying pension scheme, compulsory minimum ...
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Article
Benefits research 2012: International benefits
The number of employers that operate a global benefits framework has grown in the last few years.Offering benefits on this basis can offer several advantages for employers. As well as achieving cost and efficiency savings, it can also help an organisation build a single, overarching benefits brand that is recognisable ...
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Article
Benefits research 2012: Changes to benefits provision
Keeping a benefits package fresh and relevant is the best way to ensure it continues to keep staff interested and engaged with what is on offer. In the past year, just under half (44%) of respondents said they had introduced a new benefit to the mix.Failing to hold employees' interest ...
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Article
Benefits research 2012: Flexible benefits
Despite all the attention and discussion that flexible benefits schemes have generated over the years, they have never really taken off in the same way as other mechanisms for offering benefits. Although the number of employers offering flex to at least some of their workforce has grown over the years, ...
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Article
Benefits research 2012: Salary sacrifice
Given the tax and national insurance (NI) savings that are available when offering tax-efficient benefits via a salary sacrifice arrangement, it is perhaps not surprising that the proportion of respondents offering perks in such a way has remained consistently high in recent years.Back in 2004, 69% of respondents offered benefits ...
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Article
Benefits research 2012: Voluntary benefits
Voluntary benefits schemes have a number of advantages for both employers and employees, so it is perhaps unsurprising that the percentage of respondents offering perks on this basis has risen year on year. During the ongoing economic downturn, when benefits budgets may tight or non-existent, voluntary schemes can be a ...
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Article
Benefits research 2012: Core benefits
Over the past eight years, there has been little change in the top core benefits that employers offer to all staff. As in 2004, 2010 and 2011, this year, life assurance (also known as death in service) is the most commonly offered core benefit.In third place comes counselling or employee ...
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Article
Benefits research 2012: Benefits package
TYPES OF BENEFIT ON OFFERThe evolution and complexity of employee benefits have led to myriad definitions. For the purpose of this research, we have used the following:Core packageThe traditional package of employer paid benefits in which employees can now opt out of, or switchbetween, perks.Flexible benefitsA package of employer-paid benefits ...
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Article
Benefits research 2012: Responsibility and branding
The person responsible for benefits decisions within organisations has changed little over the years. A continuing trend has been the rise in status for compensation, benefits and reward professionals, with these areas increasingly being recognised as an HR specialism. This can be seen in the responsibility given to compensation and ...
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Article
Benefits research 2012: Strategy
Over the past eight years, the benefits market has undergone much development, with many employers now offering vastly different packages from nearly a decade ago. Yet many of the issues and challenges shaping employers' benefits packages remain similar to those experienced back in 2004, when we first carried out research ...
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Article
Employee Benefits/Alexander Forbes benefits research 2012
Download a PDF of the Employee Benefits/Alexander Forbes benefits research 2012Benefits research 2012: Key findingsBenefits research 2012: StrategyBenefits research 2012: Responsibility and brandingBenefits research 2012: Benefits packageBenefits research 2012: Core benefitsBenefits research 2012: Voluntary benefitsBenefits research 2012: Salary sacrificeBenefits research 2012: Flexible benefitsBenefits research 2012: ChangeBenefits research 2012: International benefitsBenefits ...
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Article
Benefits research 2012: Key findings
The aim of this study was to identify which benefits UK employers offer to their staff and how these are delivered.We also wanted to find out the impact of these benefits strategies, along with the key issues and challenges that are shaping them, such as the continuing difficult economic climate ...
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Article
Benefits research 2012: Sponsor's comment: Employees matter most
Staff must be engaged in the design of benefits programmes, says Stephen Watson, head of delivery, defined contribution pensions and benefits at Alexander Forbes Consultants & ActuariesAs I was reading through the results of this year's research, a definite theme started to become clear: value, value and value. Across the ...
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Analysis
Group risk roundtable: Dealing with absence
If you read nothing else, read this… Line managers can be trained to identify the early warning signs of illness, but employers must ensure they do not overburden them with responsibility. Creating the right culture using wellness days and stress awareness training can help build more resilient employees and reduce ...
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Analysis
Group risk roundtable: Catering for an ageing workforce
If you read nothing else, read this… Half of over-50s have a chronic health condition and, although this might not affect their ability to work, employers will need to consider making adjustments to accommodate them in the workplace. On average, older people take less short-term sickness absence than their younger ...