Industry news
Employee wellbeing and business results RESEARCH CARRIED out by professional services firm, AON, suggests that there is a direct link between employee wellbeing and business results. AON’s 2021 Global Wellbeing Survey (https://aon.io/35G6VGQ) found that improvements to employee wellbeing performance within a company impacts customer satisfaction and retention. The survey also found that organisations improving employee wellbeing performance: ● by 3%, see a 1% increase in customer satisfaction and retention ● by 3.5%, see a 1% increase in employee satisfaction and customer acquisition ● by 4%, see a 1% increase in company profit and a 1% decrease in employee turnover. The survey reveals that beyond financial resources and investment, one of the biggest challenges to starting or expanding wellbeing is employee engagement and interest (according to 42% of participants). Furthermore, company culture is the prime driver in developing a business case for wellbeing, leadership can set the tone with 89% of those surveyed agreeing that the chief human resources officer is the biggest supporter of wellbeing initiatives, followed by the chief executive officer (78%). Dr Avneet Kaur, EMEA wellbeing solutions leader, Aon, said: “Cultures are the seedbeds that determine whether employee wellbeing programmes flourish or die, so companies should assess if their organisational culture is helping or hindering them in their wellbeing and resilience efforts. Leadership support and buy-in are critical factors in creating a culture and a wellbeing strategy that can positively impact workforce resilience and overall company performance.”
International partnership announced A FIVE-YEAR partnership has been announced by IRIS Software Group, one of the UK’s largest software companies, and Western Union Business Solutions, a global leader in cross-border, cross- currency money movement and payments. The partnership will serve the growing demand for world class, cross-border payroll and currency payments for organisations with a global workforce, allowing in-house teams and specialist providers to deliver payrolls in large volumes, wherever based. David Munn, director of international payroll services for IRIS Fully Managed Payroll (FMP), said, “Working with a trusted partner brings swathes of security for customers, as both parties understand the challenges of global payroll and payments in both mature and emerging international markets. This has been achieved by sharing visions and creating a strategy that supports each other’s business objectives and processes.” Frederic Simon, regional vice president Europe at Western Union Business Solutions, commented: “Globalisation, increased legislation, and the acceleration of digital technology are propelling multinational and global organisations to reimagine their payroll operations. They need to ensure they can pay international employees on time, in the right currency, with confidence, and ease has become table stakes.”
Paymaster 1836 data breach PAYMASTER 1836, the pensions part of Equiniti Group, which provides pensions services to companies, is facing compensation claims made by 474 British police officers for a breach of data protection rules. The claims, estimated to be worth in excess of £1,000,000, have been made in the High Court by specialist group action law firm Keller Lenkner UK. In August 2019, Equiniti distributed 750 annual pension benefits statements on behalf of Sussex Police force after receiving updated contact details for the force’s officers. Equiniti failed to properly update their database, resulting in pension statements being sent to the wrong addresses. The data breach exposed the names, National Insurance numbers, salary banding, dates of birth, police service details, and pensions information of police officers. Head of data breach at Keller Lenkner UK, Kingsley Hayes, commented: “The breach included highly confidential information which, placed in the wrong hands, could have significant consequences, including identity theft or other fraudulent activities resulting in significant financial losses. Equiniti had a duty to protect this information and should be held accountable for their failure to do so. They should compensate victims fairly.”
Working long hours A STUDY by the World Health Organisation shows that working 55 hours or more a week was associated with a 35% higher risk of stroke and a 17% higher risk of dying from heart disease compared with a working week of 35 to 40 hours. In 2016, 745,000 people died from stroke and heart disease due to working long hours. The study (https://bit.ly/2SOB2sU), which was conducted with the International Labour Organization, reveals that almost three quarters of those who died as a result of working long hours were middle-aged or older men, and that people living in south east Asia and the western Pacific region were the most affected. Often the deaths occurred much later in life. Analysis by the Office for National Statistics (https://bit.ly/3qf8Tyr) shows that in 2020, those who worked from home to any degree worked more hours (32.3 on average per week) than those who never worked from home (27.7). Across full-time roles, homeworkers work consistently more hours than non-homeworkers.
| Professional in Payroll, Pensions and Reward | July/August 2021 | Issue 72 34
Made with FlippingBook - Online magazine maker