At a glance: reward and benefits headlines this week 22-28 June 2018
The headlines you might have missed between 22-28 June.
56% think working carers should have distinct employment rights
Employee Benefits: More than half (56%) of respondents think that working carers should have distinct employment rights in addition to employees’ statutory employment rights. Read story
85% of members from small employers are staying in their pension
Employee Benefits: Consistent with other populations, automatic enrolment opt-out rates among employees of small and micro employers are low, with 85% of members remaining in their pensions, according to a report by the Department for Work and Pensions (DWP). Read story
Leeds Building Society doubles paid volunteering time for staff
Employee Benefits: Employees of Leeds Building Society can now take up to 14 hours of paid leave per year to volunteer for good causes, effective immediately, as part of an expansion of the organisation’s volunteering programme. Read story
Amazon UK launches transgender toolkit to support employees
Employee Benefits: Amazon UK’s 27,000 full-time employees are now able to access a range of transgender resources, offering best practice guidance aiming to boost diversity, inclusion and support within the organisation. Read story
Government response to Work and Pensions Committee report published
Employee Benefits: The government notes that there is a need to empower pension savers to make sensible decisions at retirement, and will look to work with the Financial Conduct Authority (FCA) to develop stronger nudges to encourage people to seek out personalised guidance. Read story
Smart Pension trustees fined for failing to report unpaid contributions following TPR probe
Professional Pensions: Smart Pension failed to report the fact it had not collected or invested nearly £900,000 of pension contributions on behalf of its members, an investigation by The Pensions Regulator (TPR) has found. Read story
Employees unaware of death in service benefits
HR Magazine: Misconceptions around death in service benefits could be leaving employees in a vulnerable financial position, according to research from Direct Line Group. Read story
From Uber to Deliveroo via Pimlico: The search for clarity on the gig economy
Personnel Today: The law is being challenged by the gig economy business model to define and classify the terms “self employed” and “worker”. How far have the courts got in achieving this amid a welter of recent cases, asks Richard Isham, employment partner at Wedlake Bell LLP? Read story
Working out-of-office hours harms mental wellbeing - Lockton
Cover: Almost a third of financial services workers are badly affected mentally by 'working around the clock', a study by Lockton has found. Read story
32% of UK SMEs have implemented benefits packages above statutory minimum
Employee Benefits: Just under a third (32%) of UK employer respondents working in small and medium-sized enterprises (SMEs) have implemented benefits packages above statutory minimum levels, for example additional days of paid leave, in order to improve productivity, according to research by NatWest. Read story
EC2 Master fined £15,000 for not collecting or investing nearly £900,000 of pension contributions
Employee Benefits: The Pensions Regulator (TPR) has fined master trust pension scheme trustee EC2 Master, which holds assets for the Autoenrolment.co.uk master trust, £15,000 for failing to collect and invest £888,651.94 worth of pension contributions from 2,115 members. Read story
Have schemes become unintentionally locked into RPI?
Professional Pensions: Research suggests the industry believes schemes have been unintentionally locked into using the higher inflation measure but many remain unsure about an override. Victoria Ticha takes a closer look. Read story
Hermes drivers ruled as workers, not self-employed
Personnel Today: An employment tribunal has ruled that a group of Hermes couriers are workers, rather than self-employed. Read story
9 ways to reward staff without giving them a pay rise
HR Grapevine: With news that the majority of UK employees will not be getting a pay rise this year, according to research from recruitment specialist Robert Half UK, it’s important employers look for other ways to boost morale. Read story
Number of parents taking shared parental leave ‘remarkably low’ for third year
People Management: Experts say employers have a ‘crucial’ role in increasing awareness and uptake of policy. Read story
'Change is coming': DWP launches consultation on TPR powers
Professional Pensions: A consultation has been launched on granting stronger powers to The Pensions Regulator (TPR) as the government seeks to address "misuse" of flexibilities in the defined benefit (DB) funding system. Read story
Capgemini UK to launch online financial education programme
Employee Benefits: Consulting and technology organisation Capgemini UK is going to launch an online financial education programme for its 9,000 employees based across 14 operating sites in the UK. Read story
Auto-enrolment: How are small and micro employers faring?
Pensions Expert: When small and micro employers began auto-enrolling workers, it was unclear how they would react to the cost, administration and communication aspects of complying with the reforms. But emerging research suggests companies see value in the policy and are prepared for phased increases. Read story
Self-employed should not be auto-enrolled, says trade body
Pensions Expert: The Association of Independent Professionals and the Self-Employed has said that auto-enrolment should not be extended to the self-employed as a way of providing them with retirement income. Read story
Organisations ‘undermining their own employee experience’
Incentive and Motivation: According to a global survey of nearly 3,000 employees across eight nations conducted by The Workforce Institute at Kronos Incorporated, many organizations undermine their own employee experience with antiquated attitudes. Read story
Fit for Work ‘failed to provide practical advice to help sick employees’
People Management: Report also confirms concerns over scrapped scheme’s low participation rates. Read story
TPR to revoke some chair's statement fines; Dedicated oversight of riskiest schemes
Professional Pensions: Schemes and trustees who have been fined for failing to submit adequate chair's statements may see these penalties revoked as The Pensions Regulator (TPR) publishes updated guidance. Read story
Retirees 'risk draining' pension pots by 'ignoring' market volatility
Professional Pensions: Some 41% of people in drawdown are not adjusting their pension income levels to account for stock market volatility, analysis by Zurich has found. Read story
Ambition holds annual wellbeing week for UK staff
Employee Benefits: Global recruitment organisation Ambition held its annual wellbeing week this month, to promote wellness in the workplace for its 35 UK-based employees. Read story
Ultimate Software, Salesforce and Workday named USA’s Best workplaces for millennials 2018
Employee Benefits: US-based information technology organisations Ultimate Software, Salesforce and Workday are among the employers that have been recognised in the Best workplaces for millennials 2018 list, compiled by Great Place to Work USA. Read story
Don’t increase AE contributions Hargreaves tells Govt
Corporate Adviser: The Government should not increase pension contributions above 8 per cent because employees can be encouraged to save more through financial education and engagement says Hargreaves Lansdown. Read story
The problem with presenteeism
HR Magazine: Employers often worry about absenteeism but presenteeism could be an even bigger problem. Read story
National living wage rises will hit head office, not shop floor
Personnel Today: Rises in the national living wage will cause job losses at retail head offices, rather than in customer-facing roles, a law firm has found. Read story
34% state cost prevents employers from offering pre-retirement financial guidance
Employee Benefits: More than a third (34%) of employer respondents do not offer pre-retirement financial guidance because of the cost, according to research by independent financial and corporate advisers Chase de Vere and independent research organisation Lightbulb. Read story
FCA launches consultation on measures to protect consumers’ pension pots
Employee Benefits: Some drawdown customers could receive an estimated 37% more retirement income per year by investing in a mix of assets rather than cash, according to the final report of the Financial Conduct Authority’s (FCA) Retirement Outcomes Review. Read story
Hilton Saudi Arabia offers employer-funded support for female drivers
Employee Benefits: Hospitality organisation Hilton Saudi Arabia is offering employer-funded financial support for its 250 female employees, in recognition of the country lifting the ban that previously prevented women from driving. Read story
Average NEST member has £450 pot but opt-outs and cessations stay low
Professional Pensions: Just £450 has been set aside for retirement by the average NEST member, according to latest research. Read story
Employee ownership could boost British business
HR Magazine: Employee ownership could help to tackle the current challenges presented by the economy, a report has claimed. Read story
Five reasons working remotely benefits businesses
HR Magazine: Better work/life balance, future-proofing the organisation, and saving money are just some of the positives. Read story
Providers eye departure from defaults in workplace success stories
Pensions Expert: Providers at both ends of the workplace pension market are reporting positive behaviours among their membership, prompting some to suggest that the government should not instigate further increases in minimum contribution rates. Read story
How employee benefits can keep gig workers engaged
Personnel Today: As more organisations choose to use ‘gig’ workers, the workforce is becoming increasingly isolated. But how do employers keep them engaged? David Walker, chief commercial officer at Personal Group, explains how benefits can help. Read story