Policy News Journal - 2016-17

The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal

However, employers may not be aware that a lot of help is available via Group Risk protection policies (employer- sponsored life assurance, income protection and critical illness). The added-value services that come along with these policies can offer a huge amount of support tailored to the needs of all generations, from vocational rehabilitation services to help people stay in work, help with modifications, right through to help with managing chronic conditions.

Katharine Moxham, spokesperson for GRiD says,

“Group Risk isn’t just there to offer financial support – although that can be a great benefit for many – it can actually offer numerous areas of practical support which are valuable across the board. Different generations can have different needs, and the services offered alongside Group Risk policies are flexible and invaluable for employers looking to create an inclusive and supportive work environment.” Some employers are clearly embracing the needs of their older workforce. 24% have introduced flexible working initiatives – the most popular step, 11% have introduced job sharing and 10% have modified roles and procedures to accommodate older workers’ needs. So while some employers have been proactive at looking at areas related to the actual job, such as modifying working patterns and training, they have been slower to focus on health & wellbeing initiatives. Katharine Moxham goes on to say, “Employers are legally obliged to make certain employee benefits available, such as pensions. Other benefits may never be accessed, but Group Risk really is the unsung hero of the employee benefits canon. Employers that are looking to extend their benefits to this demographic would do well to look closely at them and embrace what they can offer.”

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Jobseekers over £1,000 worse off in real-terms 31 August 2016

According to the latest UK Job Market Report from Adzuna , rising inflation is starting to eat into wages and employers are holding off on hiring more expensive staff.

Key findings from the report:

 Advertised salaries fall to £32,688 in July, down 2.4% annually, from £33,505 a year ago as employers delay investment  Wages down 3.0% p.a. in real terms, equalling an average earnings loss of £1,011 to workers’ pay packets, as inflation starts creeping upwards  Salary split emerges as advertised salaries fall in half of UK cities with the Midlands bearing the brunt as Nottingham, Leicester and Birmingham all see monthly salary falls  Graduate salaries slip to £23,609, dropping 4.3% year-on-year, as new graduates face a harder start to their career  New university starters looking to boost their income with a part-time job could suffer, as part-time vacancies fall 58% year-on-year to 11,036 in July  Overall vacancies growing as number of advertised positions increases to 1,154,993, up 2.4% year-on- year from 1,128,112 in July 2015  Job competition falls to 0.49 in July (two jobseekers to each vacancy), with double the number of advertised posts to jobseekers.

Read the full press release for further details.

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Rise in maternity discrimination prompts Committee action 5 September 2016


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