INDUSTRY NEWS
Personalised employee benefits ACCORDING TO research from MetLife UK, a global provider of life insurance, annuities, employee benefits and asset management, one in two workers (50%) admit they would be willing to sacrifice more of their salary to get personalised employee benefits. The research also reveals that of the employees surveyed: ● seven in ten (69%) admit they’ll work harder for an employer that provides employee benefits which support their individual needs ● two in three (65%) now care more about financial protection over ‘softer’ perks such as gym membership ● three in five (62%) want to be involved with shaping benefit packages, with employers facing employee calls to extend benefit packages to cover children or spouses. Although salary remains the most important factor, opportunities for personal development are most valued by females aged 18–29 (48%). Flexible working proves to be a universally important perk, but slightly more so for women than men. Also, since the start of the pandemic, 63% of employers have seen an increase in employees’ queries about benefits, and 61% said they had noticed an increase in the need for mental wellbeing. Adrian Matthews, EB director at MetLife UK, comments: “Ensuring that the benefit packages employers offer suits all members of the team is crucial to protect productivity and encourage loyalty for the long term. “Employers must recognise how the needs of their employees will have changed in the past twelve months and work with them to find practical solutions that can be introduced quickly.”
Strategic partnership announced A STRATEGIC partnership has been formed by activpayroll, a leading global payroll and employee mobility specialist, and Cornerstone OnDemand Inc, a premier people development solutions company. The partnership will bring to the market a comprehensive suite of technology-led HR services which includes recruiting, personalised learning, development-driven performance management and holistic HR planning, delivered in parallel with a scalable and compliant global payroll solution. It will provide customers with a number of benefits. Andy Martin, director of business development, activpayroll, commented: “This partnership brings real value-add opportunities to offer our customers a scalable global payroll solution that will help businesses to recruit, develop and engage their people whilst using technology to seamlessly connect.” David Wood, group vice president, Global Alliances, Cornerstone added: “We believe the alliance will deliver the best possible talent management, HR and payroll architecture and service, providing customers with an effective path to accelerate their people strategy with a rapid implementation and return on investment”. Cyber security training OVER THE course of the past two financial years, the Student Loans Company (SLC) and the Financial Conduct Authority (FCA) have sent staff on cyber and information security courses. The SLC has spent over £76,800 on the training for its 3,300 or so staff, with most attending a course on anti-money laundering. The FCA sent over 4,430 members of staff on courses, to help combat the growing threat of financial crime, such as money laundering and fraud. All staff are required to complete the ‘Cyber and Information Security’ eLearning course.
Workers’ views ALTHOUGH OPTIMISM among UK workers has been shaken by the pandemic, ADP Research Institute’s People at Work 2021: A Global Workforce View report reveals that two-thirds still have a positive outlook on the world of work for the next five years, mirroring the sentiment of people across the world. The survey of more than 32,000 workers in seventeen countries explored whether the effects of the pandemic have impacted employees’ attitudes towards the current world of work and what they expect and hope for from the workplace of the future. When asked specifically about the impact of the pandemic over the next three years, workers were more inclined to expect a positive rather than negative impact on flexibility (34%) and the way they work (28%). However, nearly half expect the pandemic to negatively impact their financial security (43%) and ability to find a new job (46%). Interestingly, a significant number predict that there will be no impact on work. Two-fifths of workers (38%) are extremely or very confident that if they were to lose their job, they could find another offering the same or better level of job satisfaction – and a further 36% are somewhat confident if placed in that situation. Over a third are similarly optimistic about finding a job with the same or better pay (36%), or flexibility (36%). Jeff Phipps, managing director of ADP in UK and Ireland, comments: “Covid-19 dramatically and suddenly changed the way we operate our businesses. Yet it now seems even more challenging to figure out how our teams should work as the pandemic begins to subside. “There is an opportunity, for example, to permanently assign management clock-watching to the bin, and in its place forge true meritocracies that judge people and teams on outputs rather than where and when they work. I hope we seize this chance for experimentation and empowerment, as it could yield a new era of innovation and engagement. It is clear from our report that, in the minds of workers, the jury is still out on whether leaders will revert back to old ways or take a bold stride forward.”
35
| Professional in Payroll, Pensions and Reward |
Issue 72 | July/August 2021
Made with FlippingBook - Online magazine maker