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Cost of Living Bonuses for Employees in the UK: What Employers Need to Know

Empuls

Yet, behind the allure of cityscapes and rolling hills, there's a pressing concern that affects both employers and employees alike: the ever-evolving cost of living. What exactly are these bonuses, and how do they play a pivotal role in the lives of UK employees? Here is why giving the cost of living bonus matters for employers.

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B&M awards bonus to 24,000 staff

Employee Benefits

The group has 693 stores across the UK under the B&M brand, as well as 310 Heron Foods and B&M Express outlets. More than 24,000 members of staff employed by discount retailer B&M will receive a sum equivalent to an extra week’s wage for their “considerable efforts” during the festive period.

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How to strike a balance between managing staff wellbeing and financial pressures

Employee Benefits

Pay strategies such as targeted pay increases, performance-related bonuses and earned wage access can help. Employers need to ensure there is a culture where people can discuss financial concerns. It is important that employers look at base pay as a starting point, says Gemma Bullivant, a freelance HR director and executive coach.

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A third of employers did not celebrate Employee Appreciation Day

Employee Benefits

had a workplace celebration, such as an office party with food and drink, and 17% simply recognised their staff verbally. The post A third of employers did not celebrate Employee Appreciation Day appeared first on Employee Benefits. One in 10 (11.3%) said they allowed their staff a day off, while 16.3% provided a bonus of some kind.

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Barton’s blog: What are the limits to employers’ cost-of-living support?

Employee Benefits

This week we have seen more employers implement policies to help staff with cost-of-living increases, but it poses the question: how far will employers go in their efforts to offer support? In recent months we have seen examples of energy bills paid for by employers, as well as pay rises and one-off bonuses.

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Financial Aspects of “Unretirement”

Money Talk

a high demand for workers (sometimes coupled with increased pay, signing bonuses, and/or remote-work flexibility) 2. Tax Withholding Adjustments - Adding income from employment to what could be multiple streams of income in later life (e.g., A new job may also provide access to valuable employer term life and disability insurance.

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Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” In the dynamic arena of modern employment, employee benefits aren’t just perks; they are essential components of a thriving organization. In this case, their deferred money goes into a 401(k) plan sponsored by their employer.