The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. 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 his Autumn Statement last November, Chancellor Jeremy Hunt extended the freeze on national insurance (NI) and income tax rate thresholds until April 2028. This can contribute to fiscal drag, which occurs when taxpayers are ‘dragged’ into paying tax, or a higher tax ..read more

Half (51%) of employees want to see their employer invest more in sustainability, rising to 61% among younger workers aged 18-34, according to research by employee benefits technology provider Zest. Its survey of 2,000 employees and 500 HR decision makers also found that more than half (53%) of respondents would like to see their employer investing in more sustainable benefits such as electric vehicles and sustainable pensions, rising to 66% among 18–34 year olds. Although half (50%) of younger workers said sustainable benefits are the most important perks to them, 33% of this age group do not ..read more

Recruitment firm Hays has rolled out wellbeing support for more than 2,700 employees across 79 sites in the UK and Ireland employees in order to improve its health and wellbeing strategy. Employees can now access 24/7 immediate integrated medical, mental health and personal safety support from a team of professionals via an early intervention app, provided by Sonder.. This can provide help to employees and their immediate family members via chat messaging or phone calls, for example, by securing a GP appointment. Previously, Hays offered three separate resources to provide health and wellbeing ..read more

The FCA announced that more over 55s are accessing their pensions, and over half are cashing out their pension pots completely. In 2022/23, the number of pension plans accessed for the first time was up almost 5% compared to the previous year, to almost 740,000 (739,535), and 56% were cashed out in full, most of them worth £10,000 or less. Jonathan Watts-Lay, Director, WEALTH at work – a leading financial wellbeing and retirement specialist comments; “It’s concerning that so many pensions are being cashed out in full. Many people have spent most of their working life saving into their pension ..read more

Digital and technology recruiter Futureheads provides employees with a range of benefits and guidance to help them through any financial pressures. Prior to the cost-of-living crisis, the London-based living wage employer already offered its 30 employees financial-related benefits such as a health cash plan, a season ticket travel loan, a technology scheme to help spread the cost of larger purchases, a bikes-for-work scheme, lunch or vouchers on employees’ work anniversaries, an individual quarterly wellbeing budget, the option to buy or sell annual leave and enhanced parental leave policies ..read more

According to new research* from WEALTH at work of over 2,000 working adults with a defined contribution workplace pension, nearly half (49%) said they were unaware of what their pension is invested in. There seems to be a general lack of pension understanding with 29% unaware that their pension is even invested, and 38% saying they were unaware that their pension had a choice of investment funds to choose from, which increases to 44% for those age 55+. Coupled with this, 30% said that they were unaware that if they didn’t choose what their pension is invested in, it would automatically be don ..read more

The Singapore government has announced that it will roll out flexible work arrangement (FWA) guidelines for employees as of 1 December. The mandatory guidelines, which were devised by the Tripartite Workgroup, will set out how employees should request for FWAs and use them, and how employers and supervisors should handle requests. The aim is to make it easier for employees to request FWAs, while acknowledging that employers continue to have the prerogative to decide on work arrangements. The Tripartite Workgroup first convened in September 2023 to develop the guidelines and establish how forma ..read more

Two-fifths (40%) of women believe their professional career development has been negatively impacted due to a lack of women’s health support in the workplace, according to new research. Healthcare provider Benenden Health surveyed 5,000 female employees and 1,000 business owners for its latest report. When asked how their health challenges had negatively impacted their careers, respondents cited missing important meetings, experiencing negative comments about their work, and being overlooked for promotions and pay rises. Four in 10 (41%) female workers called for pregnancy loss leave to be int ..read more

Private equity firm Quilvest Capital Partners has appointed Richard Berke as its new global head of human resources, based in London. In his new role, Berke will be responsible for the firm’s HR department, steering all facets of HR strategy and operations to not only support its growth but also to facilitate the development of its portfolio businesses. This is part of the firm’s commitment to attracting top-tier talent to drive innovation across core functions. Berke has more than two decades of leadership in HR and recruitment. Most recently, he held the position of principal — global human ..read more

Scottish Environment Protection Agency and FTI Consulting have been shortlisted for Best financial wellbeing strategy – small employer at the Employee Benefits Awards 2024. The financial wellbeing category recognises the work of employers that have taken a proactive approach to their employees’ financial needs and support their staff to make positive financial, retirement or investment-related benefits decisions. It celebrates employers that improved and assisted their employees’ financial wellbeing during 2023. Last year, the large and small employer categories were combined and the award was ..read more