At a glance: reward and benefits headlines this week 10-14 January 2022
Ikea cuts sick pay for unvaccinated staff
Employee Benefits: Ikea has cut sick pay for unvaccinated staff in the UK who need to self-isolate as a result of being exposed to Covid-19. The decision by the business, which employs about 10,000 people across 22 stores in this country, could see unvaccinated workers who have been required to stay at home but not confirmed as having the virus receive just £96.35 a week, which is the statutory sick pay (SSP) minimum. Read more
Employers need to offer choice in benefits offerings to meet diverse workforce needs and boost employee engagement
HR News: Less than half of employees (49%) felt they received good support from their employers throughout the COVID-19 pandemic and are now looking for a better work–life balance, The latest Mercer Marsh Benefits (MMB) report, Boosting employee engagement through benefits choice, highlights how the needs and experiences of different groups vary significantly and organisations need to offer a broad range of benefits to meet these needs. Read more
People will quit if not offered a four day week
Workplace Insight: A new poll published today claims there is significant demand for a four day work week in the UK. The survey by Censuswide on behalf of ClickUp, suggests that nearly a third (31.2 percent) of Brits are actively looking for a shorter work week in 2022 or have already agreed to one with their current employer. Read more
Lockdown learnings can help maintain good mental health
Corporate Advisor: Activities and behaviours that were relied on during the pandemic’s early days such as physical exercise, being outdoors, self-care, relationships and gratitude, can be applied to maintain good mental health indefinitely says RedArc. Read more
Companies will raise salaries to keep workers in 2022
HR Review: According to the findings from the Robert Walters 2022 UK Salary Guide, professional services firms are planning to increase their budget for pay raises by 10-15 percent. It is the biggest increase seen since 2008 and almost three times the rate of inflation. Read more
Cost of living surge sees households' financial wellbeing squeezed
Sky News: UK households have experienced the biggest slump in their financial wellbeing as a surge in the cost of living takes its toll, a new survey suggests. A quarterly household finance index compiled by Scottish Widows fell to 40.1 in the final quarter of last year, down from 44.0 in the third quarter. Read more
One in 3 UK staff didn't take sick leave in 2021
HR Grapevine: According to a new survey by Instantprint, one third of UK adults did not call in sick last year at all. And the survey found that just 2.3 million Brits took time off work due to COVID in 2021. The UK’s working population is 32.5 million – so this equates to just 7% of working Brits in the UK taking COVID-related time off last year. Read more
People want employers to open up about environmental impact
Workplace Insight: Research from PLAY, a product development studio, suggests that more than three-quarters of people (77 percent) want the company they work for to be more transparent about their environmental impact. Read more
Growing Yorkshire firm hands ownership over to employee trust
Law Gazette: An expanding Yorkshire firm has become the latest legal business to become entirely owned by its employees. The three shareholders with Ison Harrison agreed to sell the business to an employee ownership trust, giving staff a share of profits made in the future. Read more
Study shows UK pension funds own just 6% of London-listed shares
The Press and Journal: A new report – Do dividends pay our pensions? – finds the proportion of UK shares directly held by Britain’s pension funds fell from nearly one in three in 1990 to less than one in 25 by 2018, a decline of more than 90%. Read more