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59% of British workers feel unhappy with their benefits packages

Employee Benefits

Almost six in 10 (59%) British workers feel unhappy, dissatisfied, highly dissatisfied or neutral with their benefits packages , according to new research. They should take steps to keep people engaged, supported and happy; offering benefits that are meaningful to the individual’s specific situation will help here.

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Top tips for boosting employees’ pensions knowledge 

Employee Benefits

Need to know: Employers can tailor content and communication channels to different employee groups to help with their pensions knowledge. Losing the jargon will make the language of pensions easier to understand and more relevant to staff. They could invest in financial coaching for a more personal approach to pensions education.

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Do total reward statements still engage employees with their benefits packages?

Employee Benefits

A personalised benefits package can help to engage employees with their benefits because it is specifically relevant to them. As total reward statements (TRS) have long been favoured to communicate what employees’ reward packages are worth, they can be useful to engage them with what is on offer.

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The top 10 most-read articles between 4 – 10 November 2022

Employee Benefits

between 4 and 10 November 2022 were: Lloyds Bank offers employees minimum £2,000 pay rise. Laura Trott appointed minister for pensions. EXCLUSIVE: Gen Z staff 20% more likely to engage with benefits package. The post The top 10 most-read articles between 4 – 10 November 2022 appeared first on Employee Benefits.

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How is the cost-of-living crisis affecting what employees want from their benefits packages?

Employee Benefits

Many providers of existing benefits, such as pensions , will have education modules to increase awareness of the financial provisions on offer. He explains: “Our research [published in October 2022] shows that 81% of employees say they’re going to reduce spending on routine healthcare, such as dentists and opticians.

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Coastline Housing receives living pension accreditation

Employee Benefits

Cornish charitable housing association Coastline Housing has received living pension accreditation from the Living Wage Foundation. Launched last month , the living pension is a voluntary savings target for employers who want to help workers build up a pension that will provide enough income for everyday needs in retirement.

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36% will work past state pension age to cover daily expenses

Employee Benefits

More than a third (36%) of British employees will continue working past state pension age because they do not think their pension will cover their day-to-day expenses , according to research by Canada Life. Of those workers, the average individual expects to work until they are 72, up from an estimated 70 years old in 2022.

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