Employee Benefits

APRIL 15, 2024

Two in five (40%) UK employees admitted they would choose a job with a lower salary but generous employee benefits , according to research from MetLife UK. Competitive salaries are important, but businesses need to realise that it’s not the only thing candidates think about when assessing job opportunities.

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Employee Benefits

MARCH 7, 2022

New research has revealed that 82% of young employees aged between 18 and 22 believe that individuals in employment should start saving for their pensions and retirement before the current default age of 22. The post 82% of young staff want to save for pensions before turning 22 appeared first on Employee Benefits.

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Employee Benefits

SEPTEMBER 20, 2023

Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Therefore a business with a team of 100 could pocket savings of up to £65,000 annually with a strategic pension plan. By presenting a more enticing pension proposal, firms can foster greater employee loyalty.

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Employee Benefits

JULY 26, 2023

Considering a shift in your workplace pension provider? The pension plan you offer should mirror your company’s brand. The heartening truth is that transitioning your pension provider is far less complicated than it appears. This article will guide you on how to switch workplace pension providers, one step at a time.

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Employee Benefits

MAY 9, 2024

Bristow Helicopters pilots and crew believe that following below-inflation pay settlements and freezes for the past few years while the employer experienced financial difficulties, their pay levels should now be comparable to other helicopter organisations. It will continue for the rest of the week.

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Global People Strategist

DECEMBER 12, 2023

Understanding local employment laws is crucial for those considering employment opportunities in this South American nation. Navigating the intricacies of Peru’s employment landscape involves grasping key aspects such as general labor laws, tax regulations, and employee benefits.

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Employee Benefits

FEBRUARY 16, 2022

Women need to be aware of the impact of career breaks and part-time working on their pensions, and how they may be able to mitigate the impact. Here are some practical tips for employers on how they can reduce the gender pensions gap. Find the root causes of the gap. Address contribution levels.

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Employee Benefits

JUNE 28, 2023

Insurance firm Allianz has introduced an electric car salary sacrifice scheme for its more than 8,000 UK employees. The scheme, which is provided by ElectriX, part of LV= General Insurance and CBVC Vehicle Management, is available to all employees.

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Employee Benefits

JANUARY 10, 2022

In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. But there are many ongoing requirements to be mindful of, and changes within the pensions environment that could lead to future impacts. There will be a need to be maintaining ongoing AE duties.

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Employee Benefits

AUGUST 9, 2023

Anyone involved with pension schemes which contracted out on a salary-related basis after 1997 will want to be aware of a recent High Court ruling which could impact their scheme. Regulations required a certificate for all amendments to rights built up by members for post-April 1997 contracted out employment, known as s9(2B) rights.

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Employee Benefits

JULY 31, 2023

But your organisation might be doing just that because the set-up of your workplace pension scheme has kept you blissfully unaware. Pension contributions by employers are great in principle, fostering stability and long-term economic wellbeing for employees. Consider salary sacrifice, for instance.

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Employee Benefits

DECEMBER 11, 2023

Most of us spend the majority of our working life saving into our pension. However, all this hard work saving can quickly unravel for those who aren’t aware of common pension mistakes. WEALTH at work outlines below the top 10 pension mistakes individuals could make, to highlight what employees facing retirement may need support with.

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Employee Benefits

APRIL 22, 2024

Employers should ask employees about their financial pressures to understand how to support them. A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag. In order to combat this, how can employers help manage employees’ financial pressures ?

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Employee Benefits

JULY 6, 2023

You’ve got a company pension scheme in place, so what would prompt you to change it? Additionally, shifting to a modern digital pension provider is surprisingly straightforward. Additionally, shifting to a modern digital pension provider is surprisingly straightforward. Is your existing pension provider maximizing your savings?

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Employee Benefits

JANUARY 4, 2024

Go back a few years and everyone was saying they were a pay-for-performance employer and everything from shares to pay rises was linked to a rating. That made budgeting difficult, so we had to have forced rating distributions and hold calibration meetings lest managers got carried away and made everyone a superstar with associated rewards.

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Employee Benefits

DECEMBER 13, 2021

Many of the organisation’s employees are in final salary and local government schemes, but the majority, about 4,000, or 40% of the workforce, are in the organisation’s defined contribution (DC) scheme. The auto-enrolment scheme offers 5% employer contribution alongside 3% from the employee. That’s real value for money.”

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Employee Benefits

APRIL 26, 2023

Here are five top tips to help employers do just that. But the REBA research shows that while over half (52%) of employers offer financial wellbeing benefits/services, they are not joined up in a strategy. Further, just 20% of larger businesses have a mature or well-developed financial wellbeing strategy.

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Vantage Circle

SEPTEMBER 23, 2023

Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” These benefits are given to employees over their salaries and wages. As a manager, do you believe that or pay lip service? Employee benefits are not just a cost for employers but an investment in the organization's success.

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Global People Strategist

DECEMBER 25, 2023

Ghana, known for its vibrant culture and burgeoning economy, offers a unique landscape for employment. Navigating the workforce in this West African nation requires a comprehensive understanding of the employment laws that govern employer-employee relationships. These contributions fund pension schemes and other social benefits.

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Employee Benefits

MARCH 19, 2024

The benefits on offer at Egress: Pensions Defined contribution pension scheme, with 5% employee contributions and 4% employer contributions. Group risk Life assurance at four-times salary. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer paid for all employees following probation.

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HR Digest

SEPTEMBER 14, 2023

Amidst all the revenue numbers and share valuations that companies wear as a badge of honor, the concept of employee relationship management has emerged as another undeniable sign of a successful organization. He asserted that the rules that were derived from these interactions governed employment relationships.

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Employee Benefits

JULY 11, 2023

Employee retention poses a complex challenge that goes beyond merely offering a competitive salary. Flexible Work Arrangements A healthy work-life balance is crucial for both employers and employees. The cost for employers to enable remote work is usually a provision of up to £30 per employee.

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Employee Benefits

JANUARY 25, 2023

The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Matching contribution levels: 3% employee contribution, 6% employer; 4% employee 8% employer; 5% employee and 10% employer. Annual employer-funded health screening for the leadership team. 26 weeks deferred period.

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Employee Benefits

JANUARY 16, 2023

Record high inflation in the UK is resulting in some employers increasing pay levels in an attempt to keep up. Alongside one-off payments and pay rises, employers may want to consider investing in a long-term strategy to ensure the financial wellbeing of their employees. Pay strategy changes.

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Employee Benefits

DECEMBER 21, 2021

The headline employee benefit in signing up for a salary sacrifice scheme is the potential for tax and national insurance savings, if you have the option of sacrificing a portion of your salary in return for pension contributions, ultra-low-emission vehicles, cycle-to-work schemes or employer-supported childcare.

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Employee Benefits

JANUARY 26, 2024

between 19 – 25 January 2024 were: Lidl GB gives pay rise to 26,000 hourly-paid employees FCA manager loses full-time work from home claim Mitie, The Perfume Shop and NFU Mutual UK certified as UK top employers Lloyds Banking Group reports 5.7% The top 10 most-read articles on employeebenefits.co.uk

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Employee Benefits

JANUARY 18, 2022

The financial difficulties caused by these lifestyle events are similar and can be managed within a general financial wellness programme. Then, when they’re ready, they want to understand how to turn their pension savings into an income for life. Many employers realise how important it is to prepare employees for life after work.

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Employee Benefits

JANUARY 31, 2024

To support employees with their financial wellbeing, employers should review the benefits they already offer and check whether staff know how they can help. Financial wellbeing support can be tailored to match an employer’s budget and employees’ needs.

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Employee Benefits

APRIL 3, 2023

Pension and group risk Trust-based defined contribution pension with 12% employer, 3% employee minimum contributions. Life assurance at 10-times salary. Health screening for all employees, employer-paid. Denplan through salary sacrifice. Additional voluntary contributions. Occupational health. Free fruit.

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Employee Benefits

AUGUST 9, 2023

It offers pre-retirement seminars focusing on a holistic approach to pensions , tax implications, the psychological impact of leaving work, wills and estate planning, that are primarily aimed at older workers but do get interest from younger staff as well.

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Qandle

APRIL 7, 2022

Calculating your employees’ salary, issuing payments, preserving payroll records, and collecting tax forms are all part of payroll management. Some businesses use payroll professionals such as employers of record (EORs) or professional employer groups to handle their payroll (PEOs).

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cipHR

NOVEMBER 15, 2021

As head of payroll bureau services at CIPHR’s sister company PBS , a payroll software and service provider, Jon and his team process payroll and BACS salary payments for 94,000 employees, across 500 organisations every month. Some employers also top these payments up. CIPHR asked payroll expert Jon Lee for some pointers.

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Employee Benefits

FEBRUARY 27, 2023

Employers are under renewed pressure to rethink their workplace financial support packages in light of research [1] that reveals that two thirds (66%) of organisations rate their workplace debt management support as poor, despite government claims that Britons are living through the worst cost of living crisis in a generation.

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cipHR

APRIL 22, 2022

Inflation doesn’t just mean rising costs for workers and their employers; UK organisations could soon be faced with workforces that are unengaged, distracted and unhappy because of the state of their finances. Pay: real living wage, and salary increases. Pensions contributions. Salary sacrifice. Pensions contributions.

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Employee Benefits

JULY 6, 2023

As an employer, you’re obliged to provide your staff with a workplace pension – a mandate made compulsory by the UK government in 2012. The required minimum contribution is set at 8%, typically comprising of a 3% contribution by the employer and a 5% contribution by the employee.

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Employee Benefits

AUGUST 9, 2023

It offers financial wellbeing support , provided by Salary Finance, such as lower interest and higher acceptance rate loans, and a help-to-save scheme that deducts savings from salaries each month, and has launched a dedicated intranet site for its cost-of-living support.

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Employee Benefits

FEBRUARY 14, 2023

Greg Guilford, CEO of HR Solutions, part of WorkNest, said: “It’s positive to see that employers are minimising the impact of the cost of living crisis on employees; however, there is still a gap between the rising costs and employees’ salaries.

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