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Key Services: Talent Acquisition and Recruitment Workforce Management Solutions Payroll Services Learning and Development Outplacement Services Why It Stands Out Randstad combines technology with human insight to offer tailored HR solutions. Evaluate Technology and Innovation The use of advanced technology is crucial in modern HR management.
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.
Workplace savings fintech firm Cushon has acquired financial services business Creative’s workplace pension scheme. This is Cushon’s third workplace pension acquisition in two years, in line with regulatory goals to drive further consolidation in the market.
One effective way in which employers can help drive employee engagement with pensions is by ensuring ease of access, so they can engage more easily and more regularly. In order to minimise jargon surrounding pensions, communication strategies should be easy to understand, inspiring, engaging and informing.
Global technology organisation Siemens, which employs approximately 7,000 employes in the UK, believes it is important for its younger employees to understand that pension saving is most effective when they start early on. “We also use our internal social platform Yammer to promote pension messages within Siemens.”
Need to know: The Department for Work and Pensions announced a delay to the delivery of the pensions dashboard programme in March 2023. Pensions dashboards are coming, and will allow individuals to access all their information online and in one place. Who will oversee the dashboards? What do employers need to do?
Need to know Benefits technology can play a vital role in engaging employees and ensuring take up of benefits. Technology has become a vital part of how we operate, and this is certainly the case in the world of benefits. It is a good idea to start at the end and work backwards, says David Kirk, growth leader, technology, at Aon. “In
The number of self-employed older adults has been steadily increasing in recent years driven by factors such as longer life expectancy, changing attitudes toward work in retirement, and technology advancements that enable remote work. Other factors are a desire for flexibility and work-life balance (i.e.,
Two-fifths of older employees are unaware of how much they have saved for retirement, according to research by workplace savings and pensions fintech Cushon. However, 86% of this age group have never transferred one pension pot into another. However, 86% of this age group have never transferred one pension pot into another.
Workplace pension provider Smart Pension has acquired workplace pension services Evolve Pensions, owner of master trust the Crystal Trust. Paul Bannister, chief executive officer at Evolve Pensions, added: “At Evolve, we have always put people at the centre of everything we do.
Back-Up Income - When older adults start a business, they often have back-up income sources such as Social Security, a pension, or an annuity. Continued Growth and Learning - Entrepreneurship requires older adults to stay mentally sharp by keeping up with the latest information in their field and with technology advances.
Since 2017, nuclear security technologies organisation AWE has worked to help its more than 7,000 employees on a journey towards embedding a whole-life savings approach. Alongside this, over the past two years the organisation has embedded a specific focus on encouraging pensions’ awareness , and saving, among new hires.
Electronics business Epson UK has completed a £60 million pension buy-in for its Epson UK Pension Scheme. The deal, which was carried out with financial services firm Just Group and scheme trustee Dalriada, secures the benefits of 113 pensioners and 289 deferred members.
Technology firm Siemens and Stockton-on-Tees Borough Council are among the employers shortlisted for Best pensions strategy at the Employee Benefits Awards 2024. A Howden spokesperson said: “We worked really hard with our pensions strategy. View the shortlist For more information and to book your table.
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. The post 36% will work past state pension age to cover daily expenses appeared first on Employee Benefits.
For more than a century, Xerox has been a leader in document technology and services. Their human resources services include advisory, technology, and administration solutions to help companies manage and engage employees. (Editor’s Note: Today’s post is brought to you by our friends at Xerox HR Services. Enjoy the post!).
More than 80 offshore drillers working for Odfjell Technology have settled a pay and conditions dispute over work on TAQA installations. In total, the deal equates to a 13% increase that will be fully consolidated into pensions, overtime and future pay increases. Odfjell Technology has been contacted for comment.
Canada Pension Plan (CPP) and Employment Insurance (EI) : Employers must make contributions to CPP and EI on behalf of their employees. Integration of branding with technological advancements: If your branding campaigns highlight technology, it’s essential to evaluate whether your staff has access to the latest equipment and tools.
Insurance market support services provider PoloWorks is rolling out new benefits technology to increase employee engagement with benefits and enable them to access all options in a single location. The post PoloWorks to roll out new benefits technology appeared first on Employee Benefits.
Smith and Nephew UK Pension Fund has completed a £260 million buy-in deal. The transaction with Rothesay, which secures the benefits of 1,885 pensioners and dependants, as well as 2,315 deferred members, is the final transaction securing the fund’s objective of insuring all of its members’ benefits.
This would incorporate an employer pension contribution of 4%, and an extra 5% which could be used to purchase other benefits. The starting point was the pension plan. It also signed up to the Green Pensions Charter, which helps challenge pension providers around their wider sustainability credentials. “We
They can choose to receive their payment instantly, send it to their savings account, or put it straight into their pension pot. We look forward to working with PayCaptain and rolling out their sophisticated technology and team’s expertise across the business to continue driving our commitment to enhancing our employee experience.”
Need to know: Trustees of large pension schemes and master trusts now have an additional obligation to publish a forward-looking measure of their scheme’s alignment with the Paris Agreement. Trustees and employers should ensure the pension investment strategy aligns with the business’s own corporate social responsibility strategy.
Yet there will always be a need for human involvement, particularly around financial benefits, says Alexis Parrish, head of benefits technology at pensions advisory firm Isio. “We Developments in 2023 are likely to be modest, as technology teams seek to develop best practices and agree common standards. Individual experiences.
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.
Rapidly growing finance technology provider Cushon has appointed experienced HR practitioner Jo Bean as chief people officer. If Cushon’s acquisition of the Creative Pension Trust is approved by the regulator, it will increase the fintech’s customer base to over 400,000 and the value of the assets under its management to £1.7
Benefits on offer at Fox Agency: Pension Salary sacrifice pension arrangement; employees are automatically enrolled after three months’ service. Opportunity to travel to technology events. Employee contribution 5% and employer contribution 3%. Healthcare and wellbeing £25 monthly wellbeing allowance.
Travel-related benefits, pensions and carbon-offsetting schemes can all help employees make a difference to their carbon footprint, and that of their employer. Green investments Pensions are another area where employers can have a significant impact. Refurbished options Other measures can also have an impact.
The Work and Pensions Committee is calling for trials of automatic appointments with the Pension Wise service as part of its new ‘Stronger Nudge’ interventions. This can be delivered face-to-face or online and utilises digital nudge technology to encourage employee engagement and participation.
Need to know: *Trustees of large pension schemes and master trusts now have an additional obligation to publish a forward-looking measure of their scheme’s alignment with the Paris Agreement. Trustees and employers should ensure the pension investment strategy aligns with the business’s own corporate social responsibility strategy. .
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. After all, your workplace pension is your most costly perk.
Credit: William Barton / Shutterstock.com Banking organisation NatWest Group has acquired 85% shareholding in workplace savings and pensions fintech Cushon, with the remaining 15% retained by Cushon management. Users can save into pensions, ISAs and other products direct from their pay. The business has £1.8
The current surge in the gig economy has been influenced by rise of digital technology and the use of on-demand platforms. There’s more to the gig economy than work being mediated via technology. According to estimates, five million workers are at risk of not having enough pension.
The employee benefits technology platform’s findings highlight growing challenges in the UK around access to healthcare, as more people explore private provision as opposed to solely relying on public healthcare, due to growing waiting lists.
The charity partnered with global financial education benefit provider Nudge, which has made sure that its technology now complies with the web content accessibility guidelines. Sight loss charity Royal National Institute of Blind People (RNIB) has provided access to financial education to its employees and others with sight loss.
” The announcements today include new second headquarters for the Department of Business and Trade in Darlington, and the Department for Science, Innovation and Technology in Greater Manchester.
They will also be eligible for compassionate and parental leave that includes providing a lump sum to cover time off if they welcome a new family member or lose a loved one, and discounts on food and groceries, fuel, technology and utilities at well-known retailers.
The global financial technology firm that provides merchants with card readers and payment solutions has more than 3,000 employees globally. Its benefits offering for UK-based employees includes the SumUp corporate pension scheme, private medical insurance and life insurance cover, which it primarily markets towards its older staff.
The Wealth at Work group – a leading financial wellbeing and retirement specialist has acquired Death by Design Limited (DBD Digital), a technology firm based in Alderley Edge, Cheshire who have worked with the group for over a decade, purposefully designing a range of bespoke technology systems and delivering marketing services.
Over recent years, the rise of technology and automation has impacted organisations and people in many ways. Employees can be auto enrolled for pensions, substantially reducing the amount of time you need to spend on pensions administration. million people in Britain are at risk of losing their jobs to automation.
Some may communicate how their group risk schemes can help with long-term health issues via face-to-face meetings or paper notifications, whereas others will use online technology, such as webinars, to get the message to remote employees. Often, employees will be told what they can access on their first day of employment and then never again.
Technology has transformed the way employees interact with their benefits, enabling much greater engagement. Several different types of benefit technology are available. Benefits professionals should also look to HR technology, bringing in data from employee surveys, payroll and offboarding for deeper insight.”
Need to know: Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professional services firms that support them. Glenn Cameron, investment consultant at actuarial and pension specialists Cartwright, believes one of the currencies, Bitcoin, will become mainstream.
In one story from 1923, Heineken became one of the first Dutch companies to establish a non-contributory pension fund for its employees. All the fancy tools and technologies are great, but so often they aren’t people centric. Technology, tools, platforms—whatever you want to call them—are enablers.
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