Reward news
Reward news
MHR’s survey ACCORDING TO a YouGov survey commissioned by leading human resources and payroll supplier MHR to coincide with National Work Life Week (1 – 5 October), a third of UK workers believe they are not given the flexibility and support they need to do their job properly, with 32% not receiving the option to work flexibly. Those who felt they lacked support in their roles continually blamed rigid hours, a lack of flexible working, micro-management and poor leadership. In contrast, 63% said they were given the flexibility and support to do their job, with many citing as reasons for their satisfaction: flexible hours and the freedom to manage their own working time, supported by good training, regular meetings and having ‘understanding’ managers. Asimina Stamatiou, employee engagement expert at MHR says: “At a time when the UK has a serious productivity problem, many organisations are failing to give their company culture the attention it deserves and implement the working practices that support the wellbeing and expectations of their employees. “The research shows that the key to a happy workforce is trusting employees and giving them the flexibility to take ownership of their work but supporting them when they need it. “Empowering employees to manage themselves and fit their work around their commitments at home, while investing the time to regularly engage with them personally, results in a happy, loyal and productive workforce who are less likely to leave the organisation.” The daily commute A STUDY by global payroll and human resources (HR) services provider SD Worx investigated the correlation between distance and time spent commuting, and the option for employees to work flexibly and from home. UK findings from the survey include: ● of those who travel for thirty minutes or more each day, 39% are likely to be actively looking for another employer, compared to just 12% of those whose commute is less than half an hour ● 24.4% work from home several days a week, more than other European countries, yet 19% rarely or never make use of the option to work from home ● 30.6% have the option of working from home with 53.3% feeling positive about it ● 21.8% travel further than forty kilometres or even more each day, while 50.5% travel fewer than ten kilometres. On average, UK workers spend over an hour and a half each day commuting and are more likely to work from home several days a week compared to other European countries as a result. The commuting times may vary greatly depending on location, availability of public transport, and means of transport. The research highlights that commuting can put a significant strain on personal lives as UK workers who travel over thirty minutes each day are more likely to be actively looking for a new job.
Employees and businesses suffer A STUDY of 10,000 employees and 580 employers conducted by Neyber (see The DNA of Financial Wellbeing 2018 – https://bit. ly/2zDruH1) sets out the impact of employees’ financial stress: ● 26% of employees have lost sleep over money worries, 10% couldn’t focus on work, and 6% have taken time off work ● associated lost productivity and increased absence and employee turnover costs UK companies in the region of £120.7 billion every year The report says that since 2017 there has been a significant increase in employees affected by financial worries – up from 58% to 63% – as well as those with less than one month’s savings – up from 24% to 32%. Fourteen percent say they have zero savings. Businesses failing to tackle financial stress face poor work performance, lack of engagement, and mental health issues among staff and absenteeism. Some 72% of chief executive officers (CEOs), 51% of company owners and 74% of senior managers, understand the impacts of financial stress on employees and the business. Heidi Allan, head of employee wellbeing at Neyber, said: “it’s clear that employers have a vested interest in helping employees manage their money, so each can feel more educated.” Jonathan Hollow, financial capability, strategy and innovation at Money Advice Service, commented that: “A growing body of evidence shows that anxiety about finances leads to poorer mental, physical and social wellbeing, and that this affects attendance and performance at work. When your workforce suffers, your business can suffer Profession map AN UPDATED profession map has been launched by the Chartered Institute of Personnel and Development, setting out the knowledge, behaviours and values underpinning today’s people profession in the modern world of work. The map (https://bit.ly/2zlmp4h) – reflecting changes in the world of work and the priorities and role of people professionals – focuses on values- based decision-making rather than generic practice or processes, to prepare all people professionals for steering judgement even where no obvious solutions, rules or precedents exist.
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| Professional in Payroll, Pensions and Reward |
Issue 46 | December 2018 / January 2019
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