All Employee Benefits articles in Web Issue – Page 806
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AnalysisWhat to consider when setting up a crisis management strategy
If you read nothing else, read this….Think location when drawing up emergency response plans. Getting an employee out of a war-torn African republic will require a very different approach to bringing them home from Europe.Ensure an employee assistance programme (EAP) has global capabilities. A UK EAP may be able to ...
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ArticleBuyer's guide to group income protection 2015
The factsWhat is group income protection?Group income protection (GIP) provides an income to an employee when they are unable to work as a result of an illness or injury. Payment normally starts after a waiting period, typically six months, and can continue until the employee returns to work or, if ...
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AnalysisHow much do staff say they know about the share plan they participate in?
Source: The human and organisational impact of employee share ownership, by Dr David McConville, Alison Smith and John Arnold, (Sept 2012).
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AnalysisKey questions employers need to ask ahead of April's pension changes
If you read nothing else, read this… It is not too late for employers to prepare for the new pension reforms. Employers must decide if and how they plan to support employees approaching retirement. Preparation is likely to involve tweaking existing strategies, rather than spending additional budget, for many employers.1. ...
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Case StudiesAnglian Water evolves financial wellbeing strategy to support employees
The utilities organisation has integrated financial wellbeing into its approach to employees’ health and wellbeing since 2007.Sally Purbrick, head of reward at Anglian Water, says: “We have seen a correlation and it all integrates into the area of health and wellbeing. It is not done in isolation. All the areas ...
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Article
Pension legislation announcements in February
Draft regulations to cap defined-contribution (DC) pension scheme charges at 0.75% were put before Parliament in February, alongside additional governance requirements.From April, scheme charges will be capped at 0.75% unless employees have specifically chosen a more expensive option.In its response to a consultation on the introduction of a 0.75% cap ...
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ArticleMichelle Tudor: How could the general election impact employee benefits?
We can expect to see the national minimum wage continue to increase. The Conservative Party’s sights are set on reaching a minimum wage of £7 per hour, while the Labour Party has pledged to increase the minimum wage to £8 per hour by 2020.A Labour government would also increase the ...
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ArticleDave Roberts: How could the general election impact employee benefits?
I don’t think any new government will back track on the new flexibilities offered following the 2014 Budget. Not only would it be a huge amount of work to unravel, but the changes are proving popular and bring in much needed additional tax revenue for the UK. But I suspect ...
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AnalysisHow employers are using data to inform flexible benefits schemes
If you read nothing else, read this…Employers can use flexible benefits scheme data to assess how well their scheme supports their organisation’s business objectives.But they need to ascertain from their flex providers and benefits consultants the range of data that is available on their scheme, plus the format in which ...
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Case StudiesThe University of Birmingham revamps car scheme to engage staff
Through the scheme, which is provided by SGFleet, staff can take up a fully maintained and insured car, and make savings through tax and national insurance (NI) efficiencies.The scheme enables the university to compare CO2 emissions of employees’ new cars to the cars they are replacing. CO2 emissions for cars ...
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AnalysisHow to breathe new life into car salary sacrifice schemes
If you read nothing else, read this…Refreshing a scheme will first require reassessing the initial principles for offering it.Car salary sacrifice schemes offer staff an all-inclusive package with a brand-new car, servicing and maintenance, road tax and insurance.Advantages, such as the ability to reduce their carbon footprint, need to be ...
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AnalysisWhat does the future hold for health cash plans?
If you read nothing else, read this…The health cash plan market will continue to grow off the back of the NHS’s ongoing struggle to cope with the demands placed on its services.Wellbeing services will be a particular focus for cash plan providers in 2015.Online services to help speed up claims ...
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OpinionKelly Mitchell: Prepare for childcare changes
Some parents could potentially be worse off under the new tax-free childcare scheme, due to different conditions for eligibility and lower savings for some.Once the tax-free scheme is introduced, employer-provided childcare voucher schemes will no longer be open to new applicants. However, employees already receiving childcare vouchers can continue to ...
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Case StudiesJP Morgan introduces elder healthcare and dental cover
Employees can select health screening and dental cover for their parents at the current corporate rates that they and their partners receive.The new section of the organisation’s flexible benefits portal, Elements, provides employees with the opportunity to cover themselves, their partner and both their parents and parents-in-law for homecare assistance ...
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AnalysisHow to create an integrated financial wellbeing strategy
If you read nothing else read this…46% of employees worry about their finances.An effective financial wellbeing strategy needs to understand the needs of employees.Workplace savings and education can encourage saving and boost wellbeing.An integrated strategy must link to business needs. Barclays Corporate and Employer Solutions’ (C&ES’s) Financial wellbeing: the last ...
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ArticleDebbie Lovewell-Tuck: Employers primed for financial wellbeing
This question came to the fore again last month when the government rolled out a new interest-free loan scheme across the UK.The scheme, which was previously piloted in London, works in the same way as a season ticket loan, enabling employees to take out a loan for a house rental ...
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AnalysisWhat can employers do to meet the demand for eldercare?
If you read nothing else, read this…Employers and employees appear to be becoming more aware of the importance of eldercare.A number of benefits can help to support staff, such as emergency eldercare.Employers should provide emotional support, flexible working, practical advice and hotlines.This is set to become more of an issue ...
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Case StudiesScapa Group questions employees’ financial nous
She was particularly keen to understand the level of financial awareness among employees at the global bonding product and adhesive components manufacturer.“[I wanted to know] how much they really knew about pensions and how much of that is in the context of a wider financial savviness,” she says.Patten found that ...
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ArticleGreet Brosens: What can employers do to address the pay gap?
The Autumn Statement 2014 announced that the gender pay gap is at its lowest in history and this is fantastic news. However, until the pay gap is completely closed, employers will continue to experience challenges in the workplace.This disparity in pay can be damaging. It can undermine a hard-won reputation, ...