Reward News
Government plans to make pension schemes ‘nudge’ members towards guidance
The Government has issued plans which would require pension providers to "nudge" savers to seek guidance from Pension Wise. According to new Government plans, pension providers will be required to "nudge" savers towards Pension Wise, a free and impartial guidance...
Just over half of employers believe employees understand all their benefits
Research shows that just over half of employers think that their workforce are aware of and understand all the benefits on offer to them. A new survey by GRiD, an industry body for group risk, shows that only 57 per cent of employers think that their employees are...
Salary expectations gap between men and women has doubled
New research shows that men expect annual salaries of £41,615, on average, whilst women's expectations of annual salaries were much lower at £31,066. The difference between salary expectations of men and women has doubled since 2018. According to new research by...
Employee benefits to be reviewed in three out of four companies
Employee benefits have been pushed to the forefront of attention due to the COVID-19 pandemic with almost three in four companies planning to review the employee benefits they are offering. According to new research by Howden, an employee benefits company, almost...
Four in five businesses are concerned about losing their best workers
Despite the rise in demand for jobs, around 86 per cent of businesses fear that they will be losing their best workers due to the impact of COVID-19. According to a new survey by Robert Half, a recruitment agency, a significant fear amongst businesses is that they...
Over half of UK would support a ‘maximum wage’ due to COVID-19
Statistics show that a maximum wage of £100,000 could increase the annual average median wage by £3,535. A new report by think tanks Autonomy and the High Pay Centre state that over half of the UK (54 per cent) would support the idea of a maximum wage being...
How to make rewards COVID-19 friendly
One issue the COVID-19 pandemic has brought with it is the pressure it is placing on rewards and performance management. A consultant business is advising companies to take a "balanced approach in the face of the current uncertainty and avoid making rash, short-term...
Companies send gifts to staff to combat COVID-19 pressure
Just over one-sixth of UK businesses have sent gifts to their staff, who they feel are under increasing pressure due to the lockdown brought on by COVID-19. Hamper.com, a company that delivers hampers, has found that 16 per cent of companies have sent a "goodwill...
Time off to look after puppy best reward to boost productivity
Time off to look after your new puppy is the best incentive to offer your employees to boost productivity. This is according to Flexioffices, the flexible workspace experts who found that 41.17 per cent of workers see 'pawternity', time off taken to look after your...
Should you be monitoring what your staff are eating?
With employee health becoming more and more important as time goes on, a nutrition expert and author has advised companies to start to look at what workers are eating and drinking. Jenny Tschiesche, aka The Lunchbox Doctor, said that organisations are missing a trick...
Reward Analysis
Michael Doolin: What employers need to know about remuneration packages and benefits
The evolution of remuneration and the impact of COVID-19 COVID-19 has had a wide-reaching impact, touching almost every area of the business, not to mention the labour market. With many industries such as Hospitality taking huge hits, the introduction of the furlough...
Rebekah Tapping: How businesses are responding to National Living Wage increases
As the impending rise to the National Living Wage (NLW) draws nearer, the pressures on businesses to look at their remuneration package increases. Evidence from a recent report from the National Minimum Wage Low Pay Commission1 suggests that businesses are responding...
Danni Rush: Creating a diverse employee engagement scheme for a diverse workforce, the risks and rewards
Our workplaces are becoming increasingly diverse. For example, back in the 1970s, women represented 40 per cent of the workforce but now make up almost half (48 per cent). However, according to the World Economic Forum (WEF), there is still plenty more to do. As...
Deborah Frost: Making reward and recognition personal
A successful employee benefits programme only truly works when it is meaningful to the individual. Employees want to feel valued for their contribution, not like a small cog in a large machine. Research has shown that happy and engaged employees are up to 20...
Gail Cohen: Making the most of gift cards as an employee reward
Gift cards have become an increasingly integral part of many businesses reward schemes. Indeed, our most recent State of the Nation report revealed that the B2B gift card market has grown by more than 20 per cent year-on-year. From an employee’s perspective, the...
Ken Charman: Creating a reward strategy for the digital age
Recognition is becoming a motivational necessity. According to a recent survey across the US, UK and Australia, employees are rejecting generic and annual rewards as inadequate, instead demanding to be recognised in more timely and meaningful ways. Only 20 per cent of...
Jim Barnett: The art of putting cost effective employee benefits in place
Workplace benefits need to be carefully thought out and be seen not as a simple perk, but a real investment in personnel. Innovators – Google, Apple, LinkedIn and Virgin are continually coming up with innovative benefits to entice and retain talent from encouraging...
Brett Hill: The dangers of demographic generalisation in the workplace
Demographic generalisations continue to make headlines, as another trait of a particular age group is “exposed” for readers to feast on and debate. While having groupings such as “Millennials” and “Baby Boomers” can be useful in the workplace - as a starting...
Brian Kropp: Employee behaviour influenced by Brexit disruption
While an unstable government continues to “throw the dice” on its potential next steps – with continuing delays - it is no wonder that businesses have felt forced to accelerate their Brexit planning. However, within such plans, employers are failing to predict how...
Jennifer Liston-Smith: New Benchmark for Parental Leave Policies
The biggest driver of parental leave policies is the competition for talent. So said 54 per cent of respondents to a new benchmarking survey conducted by Bright Horizons / My Family Care in partnership with HRreview. The just-launched Benchmark report provides...
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