Consultancy

When we take a step back and compare the last few generations to enter the workforce, there are a multitude of factors that could cause their outlooks to differ when it comes to employment. Generation Z now represent our newest pool of working talent and have been shaped by an upbringing steeped in technology, financial and environmental uncertainty and the COVID-19 pandemic.

In this article, we’ll explore what a benefits platform can add to your overall employee benefits strategy, as well as outlining some key aspects of this additional technology that can help to enhance the benefits experience of your people and encourage them to engage more with the benefits you offer.

As an employer, the cost of delivering meaningful benefits that provide value to your people can cost a very considerable amount. For the level of expenditure, you want to make sure that these benefits are being fully valued, understood and utilised by your workforce.

According to debt charity StepChange, money borrowed to finance Christmas could take years to repay.  Worries about debt led to a surge in enquiries to the charity as soon as the festive season was over.

It may seem counter-intuitive to offer your people support to plan for their exit from your business, but really, it is anything but. Offering retirement planning support can help your business recruit and retain talent, and gain an edge over your competitors.

As the cost-of-living crisis continues, I’m increasingly being asked by my clients and colleagues about the best ways to get people engaged with their benefits, to really ensure they’re getting the most value from them. And, just as crucially, how supporting people to engage with their benefits helps to improve your employee value proposition in today’s tough landscape.

When we think about what really drives a business forward, it’s not the lifeless elements. These things are important, but it’s the human aspects, the intellectual capital within an organisation, that will make the difference to how well your organisation weathers financial turbulence.

In these troubling times, it isn’t surprising that for some, workplace pension contributions are considered discretionary, and they are making the choice to opt-out.

In recent years we have seen many changes that widen the support around important employee lifecycle events, from shared parental leave to additional support around miscarriages.