At a glance: reward and benefits headlines this week 22-28th January 2021
The headlines you might have missed between 22–28 January 2021.
Corporates increasingly concerned about reputation
The Actuary: Global organisations are increasingly concerned about reputational risk, with eight in 10 believing that the issue will grow in importance over the next five years, a recent survey has found. Read Story.
Over half of households worse off financially due to Covid
Cover magazine: January is a tough month for many families in the UK every year, but the far-reaching financial implications of the Covid-19 pandemic are making it even more challenging than usual for more than a few, a new study has suggested. Read Story.
‘Groundhog’ hell for hundreds of thousands as Covid cancer nightmare continues
Healthcare and Protection: Cancer patients across the country are more worried than ever about their chances of survival as the pandemic causes more delays and cancellations to diagnostic tests, surgery and other procedures, a charity has warned. Read Story.
Low paid workers have borne the brunt of the pandemic
Workplace Insight: New analysis by the Institute for Employment Studies has found that low paid workers are more than twice as likely to have lost their jobs during the pandemic and are at far greater risk of being temporarily laid off or having their hours cut. Read Story.
Just 5% of workers will receive their January bonus this year
Employee Benefits: White-collar professionals have never been so pessimistic about receiving their January bonus payment, according to new data published yesterday by Robert Walters. Not since the recruiters’ annual Salary Survey first began 20 years ago have workers been so downcast, with the research finding just 5% of those polled expect to get their bonus this year. Read Story.
Health Assured reveal UK employee mental health and wellbeing 2020 research
FE News: The UK's leading health and wellbeing provider, Health Assured has analysed data from the over 13 million lives they support via their EAP (employee assistance programme) helpline and found some compelling results. These insights can help employers prepare for the year ahead and provide some much-needed support to their employees as the pandemic continues. Read Story.
Home working linked to rise in musculoskeletal disorders
Personnel Today: More than a third (37.7%) of musculoskeletal disorder (MSD) cases were connected to work in 2020, compared with just 1.4% in 2019. According to analysis of data compiled by THOR-gP by health and safety consultants Arinite, keyboard work was the third biggest cause of MSDs, responsible for 11.3% of cases, behind heavy lifting (27.8%) and materials manipulation (19.4%). Read Story.
HR leaders fear impact of work from home
HR Grapevine: As coronavirus continues to weigh on the HR agenda, a new study claims that, whilst 46% of HR directors see improving employee productivity and engagement as their main focus for the year, just 33% foresee such an improvement occurring. Read Story.
HR – Here are the 5 new concerns employees have about redundancy in 2021, according to expert
Employer News: According to an expert on supporting employees through redundancy, HR needs to be aware that employee concerns about finding a new role have shifted significantly because of COVID-19. Read Story.
Perception of the value of HR improved during the pandemic
Personnel Today: Almost three-quarters of HR professionals say the pandemic has increased their value in the eyes of the business, according to research by software company Sage People. Seventy-two percent of HR leaders said others’ understanding of the role had increased in the past 11 months, and 59% said they now played a more influential role in the company. Read Story.
The future of work is hybrid with a firm focus on employees
Workplace Insight: Companies are searching for ways to reinvent the office and give employees reasons to return to their workplace and a new report by JLL says the focus must be on the workforce. The report, Reimagine: the new future of work to shape a better world predicts that the future of work will involve companies prioritising the health, wellness and mental well-being of employees. Read Story.
Mental health fears not being met with action
Employee Benefits: New data from employee experience agency Home has found high employer levels of worry about staff mental health, but less actual help in dealing with it. According to the poll, 80% of organisations said employee mental health was being negatively impacted by the Covid-19 (Coronavirus) pandemic. But despite this level of worry, the research also found that fewer than two-thirds (61%) were actually doing anything more than usual to support employee mental health. Read Story.
Poll: Four-fifths of employers are giving working parents more flexibility to cope
Employee Benefits: An overwhelming majority of organisations say they are providing staff with greater flexibility to help working parents cope during the current lockdown. This week’s straw poll of www.employeebenefits.co.uk readers has found more than four-fifths (82%) cite offering flexibility as the main way in which they are supporting employees with childcare responsibilities. Read Story.
Call for ‘living pension’ to boost contribution levels
FT Adviser: A living pension standard is needed to encourage employers to raise contribution rates and help workers enjoy a decent standard of living in retirement, a think-tank has suggested. Read Story.
Remote work continues to impact physical and mental health of workers
Workplace Insight: New research from Fellowes Brands claims to reveal the ‘alarming’ impact enforced remote work is having on the mental wellbeing and physical health of the nation. Over a third (35 percent) of UK workers admit feeling stressed or anxious, lonely and isolated (32 percent) and tired or lacking in energy (38 percent), while working from home during lockdown. Read Story.
Lack of pension support from employers a ‘major concern’
Pensions Age: The volume of people seeking further support regarding their pension saving, and employer support often falling short of expectations when provided, has lead to “major concerns”, according to Guiide. Read Story.
PMI expands mentorship programme
Corporate Adviser: The Pensions Management Institute (PMI) is expanding its mentoring and development programme, which will pair 50 mentors up with those working in the pensions industry in 2021. This programme builds on an smaller pilot, and will be delivered in conjunction with the Institute of Leadership and Management and sponsored by The People’s Pension. Read Story.
Firms prioritise staff health due to Covid crisis
Corporate Adviser: Three in five businesses in the UK now feel more responsible for employees’ health as a result of the Covid pandemic. The survey, by international health insurer Aetna, fund 63 per cent of business leaders now believe their firms have a responsibility to look after both the physical and mental health of those in the workplace. Read Story.
Over 45s need more HR support to navigate reskilling
HR Magazine: The coronavirus pandemic has sparked a wave of career switching among workers over 45 year-olds in the UK, according to new research by Microsoft. Difficulties in the job market however mean that this demographic in need of greater HR support to explore possible re-skilling and advice on how to combat age bias. Read Story.
Employees’ emotional response to home working varies across industry
Employer News: Working from home has become the norm for a significant proportion of the global workforce over the past year and it’s likely this trend is here to stay. But new research from employee engagement experts, Inpulse has identified an industry divide in emotional responses towards home working. Read Story.
Pay and working hours rise as employment falls
Employee Benefits: According to the ONS figures, the number of payrolled employees has fallen by 828,000 since February 2020, with the estimated employment rate now at 75.2%. This is 1.1 percentage points down on the same period the previous year and 0.4 percentage points down compared with the previous quarter (June to August 2020). Read Story.
One in four businesses to make Covid-19 vaccine mandatory
HR Wire: One in four businesses plan to make the Covid-19 vaccinations mandatory for employees, according to new research from HR Locker. A new survey of 750 business leaders across the UK and Ireland has suggested thousands of employees may be required to get the Covid-19 vaccination if they wish to return to the workplace. Read Story.
Minimum job placements lifted for Kickstart Scheme
Reward Strategy: The Department for Work and Pensions (DWP) has updated its guidance so that, from February 3 2021, employers no longer need a minimum of 30 job placements to apply directly to the scheme. Read Story.
Majority of employees looking for a new role, research suggests
People Management: Nine in 10 workers are looking or thinking about looking for a new job this year, a survey has found – many of whom are worried about their job security. A survey of 5,000 UK workers, carried out by Totaljobs, found that almost nine in 10 (89 per cent) were thinking about changing jobs this year, with more than three-quarters (77 per cent) already actively searching. Read Story.
Pension advice allowance 'too low' for effective outcomes – Opperman
Pensions Age: Pensions Minister, Guy Opperman, has warned that the current pensions advice allowance is “too low” and potentially too late in the retirement journey to effectively support members, confirming that an evaluation by HM Treasury is underway. Read Story.
Half of employees ‘just going through the motions’ as redundancies hit morale
Workplace Insight: Mass redundancies across the UK are having a huge impact on the discretionary effort employees are willing to undertake on behalf of their employer, according to research from career transition firm Randstad Risesmart UK. Read Story.
Two-fifths of firms re-evaluating EVP in light of Covid, poll finds
People Management: Businesses report focusing more on supporting wellbeing, but experts warn this should be a ‘continual process’ and not just a reactive exercise during crises. More than two-fifths of employers are re-evaluating their employer value proposition (EVP) following the coronavirus pandemic, a survey has found, with many businesses putting more emphasis on wellbeing and assistance programmes. Read Story.
HR and benefits heads left out of key decision-making
Employee Benefits: HR and benefits heads are being excluded from key decision-making processes that aim to create better, and more cohesive, employee experiences. This is the surprise finding of new research conducted among 750 chief information officers (CIOs) and 752 HR/internal communications (IC) professionals by pollster OpinionMatters. Read Story.
Majority of young couples face income shock
Cover magazine: Figures published in LV='s new Fuel for Life online report for protection advisers have revealed the probability of income shocks for young couples due to serious illness or death. According to its Risk Reality Calculator, couples in their mid-20s have almost two in three chance (63%) of being unable to work for two months or longer before they retire. Read Story.
Government U-turns over workers’ rights review
Fresh Business Thinking: A controversial review of EU employment rights will no longer go ahead, the business secretary has revealed just a week after confirming it will go ahead. Last week, Kwasi Kwarteng confirmed that the government was considering scrapping some of the EU’s workers’ rights laws in the wake of Brexit, just days after insisting the government had no ‘no plans’ to cut workers’ rights. Read Story.
Homeworkers “at risk” unless employers recognise duty of care
Workplace Insight: A new generation of long-term homeworkers created by COVID-19 is at risk physically and mentally through inadequate employer support, claims research by EIZO. Employees are already feeling the negative effects of a home environment, often ill-equipped for the working day and EIZO warns there may be a rise in ‘Homeworking LOSERS’, or ‘Laptops On Sofas and Employment Rights Shelved’. Read Story.