5 Things The Employee Benefits World Taught Us This Week – May 22nd
Here we sum up this week’s five biggest employee benefits stories so that HR managers can access all the reward strategy info they need in the one place.
1. 31% Of Employees Receive No Workplace Employee Benefits
Research from Canada Life has shown that nearly a third of employees do not receive workplace benefits, which is up from the previous year’s report which claimed just 26% received employee benefits. Rather than embracing the need for a solid reward strategy, it appears businesses are moving in the opposite direction – a move which will surely eventually come back to haunt those businesses when staff begin to leave.
2. Part-Time Work Could Be The Secret To Employee Happiness
Research by The Economist magazine has found that the work structure in Holland might explain why the flat country is consistently ranked among the happiest in the world. Holland has an exceptionally high level of part-time workers which goes well above the EU average. 28.8% of Dutch men work part-time (above EU average of 8.7%) while 76.6% of Dutch women work part-time (above EU average of 32.2%).
Besides Holland, half of the countries in the top 10 for happiness are also in the top 10 for part-time work.
3. Maternity Leave Provision Is Depended On Level Within Companies
It has been found that a mother’s level within an organisation influences how much maternity leave she will receive. Only 21% of women in senior roles were given the bare minimum legally required, whereas for the rest of the workforce 59% were only offered the minimum maternity leave.
4. The Number Of Auto Enrolment Fines Issued Has Escalated
An escalating number of fines for Auto-Enrolment compliance lateness have been issued by The Pensions Regulator. A relatively high 198 fines were issued in the first quarter of 2015 and rising daily penalty notices have been used as well for the first time.
5. A Black Market For Nannies Could Develop
It has emerged this week that a black market for nannies could develop in order to avoid Auto-Enrolment and the requirement to pay into their nannie’s pension pot. It would cost around £500 per years according to estimates per parent to pay into their nannie’s pension pot.
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