Shortlisted for Corporate Adviser awards

corporate adviser awards

In its 11th year, the eagerly awaited Corporate Adviser Awards celebrate those advisers and providers that have brought real innovations and delivered outstanding service in the field of workplace financial services.

Being shortlisted recognises the excellent work undertaken and delivered for our corporate clients as well as our dedication to innovation.  In 2020 we added a bespoke benefits portal to our offering. This benefits portal has been specifically designed to reduce the administration burden many companies struggle with, it also empowers our clients to improve governance, increase data security, improve the audit trail and most importantly, deliver useful benefits information and communications to employees via one secure online hub. This level of investment in service and technology ensures we are efficient and competitively priced.

We have also added additional services such as financial heath checks for employees of our corporate clients, improved review delivery and quarterly performance review on pension scheme default funds.

Andrew Waller, Managing Director for Generation Employee Benefits, said: “Providing outstanding financial advice that clients can rely on is our overarching objective. We are pleased to have been recognised as among the top firms in the UK. Covid-19 has challenged individuals and businesses in so many ways and we have worked tirelessly to support our clients, to have this recognised is extremely rewarding.”

The winners in each category will be revealed at the Corporate Adviser annual awards ceremony in November. Speak to one of our experts today and learn how working with Generation Employee Benefits Services can help your business excel.

If your business finds itself investing both time and money in training new staff, but they leave before you can reap the reward of that investment, it is time to make a change. In this blog our experts suggest five ways to motivate – and retain – staff.

Flexibility

The last 12 months have seen the work environment change rapidly, with employees being told to work from home if they can. This Government request poses different challenges for different individuals. Some may lack technical equipment, some may struggle to create a suitable workspace and then there is the family dynamic, made trickier by the closure of schools and the move to home learning for students. Ultimately, all employees are different, and have various personal and professional circumstances and needs. Some employees may have dependent children or external commitments and responsibilities which conflict with standard working hours. However, flexible working can be difficult to implement, with many considerations which must be discussed beforehand.

Things to consider could include introducing more flexible working time based around core working hours. The correct procedure will differ between companies, depending on day to day processes and client requirements.

Don’t forget to consider providing a comfortable home working environment, such as providing comfortable chairs, or adjustable computer stands.

Help your employees stay healthy

Ensure your staff stay physically fit and healthy. Exercise releases endorphins – the happy hormone –and research into happiness and productivity has found that workers are 13% more productive when happy*. There are options to include all of the below and many more into your employee benefits programme.

  • Advertising popular exercise videos from qualified instructors
  • Access to an online GP services
  • Discounts on fitness apparel
  • Discounted gym membership and online classes

Confidential emotional support

Physical health is nothing without mental health. There is lots of talk in the media about Covid-19 causing a mental health crisis. It is worth putting processes in place now to ensure your employees are cared for. You can support your employees by giving them access to a 24/7 employee assistance programme that provides them with:

  • Unlimited access to a free 24/7 confidential helpline
  • Access to an online hub with a library of helpful resources
  • Free access to a qualified therapist, face-to-face, over the phone or online

Staff engagement

With no physical offices it can be hard to engage staff and develop a team mindset. We believe that even outside of the office, there are numerous ways to ensure employees feel valued and trusted in their roles, these could include:

  • Including your staff in business decisions
  • Putting a focus on communication and feedback
  • Arranging staff Teams or Zoom calls for team meetings and socialising bonding
  • Creating a staff acknowledgement scheme – employee of the month for example
  • Allowing staff to nominate their peers for rewards

By involving your team in any issues or company changes you will increase the feeling of involvement and inclusion, which ultimately leads to motivated staff.

Access to hundreds of discounts

Employee benefits programmes commonly contain a discount or perks section. Once you know what motivates your staff you can choose the most suitable options. Covid-19 has hit many families hard and additional discounts are always appreciated.
In conclusion, to help employees flourish it is important to create a comfortable working environment – be that in or outside of the office. Providing a selection of suitable staff benefits can form a key part in helping you to achieve this, resulting not only in a motivated workforce but also in improved staff loyalty.

Speak to one of our experts today and learn how evaluating your employee benefits package can help your business achieve its goals.

*https://www.ox.ac.uk/news/2019-10-24-happy-workers-are-13-more-productive

In this blog our experts look at those factors that can truly help employers retain talent. It is a given that a competitive salary and a desirable benefits package factor in an employee’s decision to join – or stay at – a company, however there are numerous other elements which can be more important than salary.

Retaining talent – getting to know your staff

To get the most from your employees they must feel that you – their employer – respect them and value them, not only as employees but also as individuals. Asking after their families and circumstances outside of the office can mean a lot.

When employees feel valued and appreciated for their contribution, studies1 show they are up to 87% less likely to leave their job.

Motivating talent – how to get the best from your staff

Research by Oxford University’s Saïd Business School found a conclusive link between happiness and productivity. The study found that workers are 13% more productive when happy.

So, how do employers keep their employees happy? Recognition, feedback and communication are seen as the three lynchpins needed to make employees feel valued.

Superior talent is more productive

The effect that a high calibre of staff has cannot be denied. Studies show time and again that high-performers are more productive than average performers. For example, the best transplant surgeon at Cleveland Clinic has a patient survival rate at least six times longer than that of the average transplant surgeon, and the top developer at Apple writes nine times more usable code than the average software developer in Silicon Valley.

It doesn’t matter what industry you investigate, A-level talent is exponentially more productive. This follows through into a business context; it is therefore not surprising that there is a competition to secure – and to retain – talented employees.

The importance of the employee benefits package

Offering a benefits package to your employees is important, it illustrates to them that their employer is invested not only in their overall health, but in their future.

A favourable employee benefits package can help with both attracting and retaining talent. The company’s benefits package helps to differentiate your business from competitors.

In some cases employee benefits can even improve your company’s bottom line.  Engaging employees in wellbeing programs can equate to healthier employees, a healthier workforce take less sick days, visit the doctor less often and are less stressed, making for a happier working environment.

Employee Benefits – what is appropriate for your business?

Providing meaningful employee benefits to employees whilst being mindful of the financial implications to the business is a delicate balance.

Whether the decision makers sit at HR, payroll, or board level, it’s crucial not to let judgement be clouded by personal preferences. It is dangerous to assume that the benefits one person wants are what everyone wants; it needs to be a carefully considered decision.

Where people live and how they get into the office can have a significant impact on their benefits preferences; particularly when it comes to benefits surrounding commuting.

Making sure that all employees have access to benefits that suit their family and financial situation is another big consideration. A badly thought through benefits package can be a contributing factor in an employee’s decision to leave your business and look elsewhere.

Our expert team can help you complete a benchmarking exercise, designed to gather the information needed to accurately plan a suitable employee benefits package. To speak to a member of our helpful team get in touch today.

  1. Recruit Loop’s retention statistics

 

It has been a difficult transition for HR leaders, many of whom have had to completely rethink workforce and employee planning, management, performance and experience strategies. In this blog our experts concentrate on the effects the pandemic has had on employee benefits.

While a number of traditional employee benefits – gym memberships for example – have been suspended due to social distancing measures, there are others which have found new favour with employees. The following article will analyse the changes to the employee benefits landscape, providing valuable insight into the ongoing impact of Covid-19.

The rise in health awareness

As the country was encouraged to work from home, the daily commute became a thing of the past. Time previously spent on a train, bus or in the car, became free time. One unforeseen beneficiary of this extra free time has been the cycle-to-work-scheme. The scheme has experienced an unprecedented 66% increase in orders received – with a value increase of 74%, when compared to the equivalent period last year.

With gyms closed and travel by car discouraged, bicycles became not only a crucial mode of transport, but also one of few ways to safely enjoy exercising. They also opened up countless opportunities to explore the world on our doorstep.

What does this mean for my employee benefits offering?

Covid-19 has caused people to revaluate what is important. For many, lockdown has shown the importance of time spent with family. The gym provision previous valued by your workforce may well have less appeal in the coming months. However by listening to your staff and introducing the option to join the cycle-to-work scheme you could not only help create a healthier workforce but also a more engaged one.

Protection is now a key benefit

One industry seeing an upsurge is that of protection and group risk benefits. A benefit sometimes previously seen as a fairly tedious necessity is now an area of vital importance. Even younger employees who have ordinarily been indifferent to the additional levels of cover available are asking more questions and taking an active interest.

How will this affect the industry?

The group risk industry insures in excess of 13 million people. After enjoying a fairly static market in recent years, we are now seeing a marked increase in protection enquiries. Figures show a 40% increase in demand for partner life insurance, and 70% more enquiries for will writing benefits. This is an area of vulnerability that Covid-19 has forced the industry to address.

Seeing employees as individuals

The Covid-19 pandemic has acted as a driving force to invest in the wellbeing of employees.

The growth in mindfulness and the move towards inclusivity and addressing inequalities – especially surrounding remote and on-site employees – has seen a growth in demand for wellness programmes.

How will the expanded employer role affect me?

The Covid-19 pandemic has focussed minds on how to play an expanded role in employees’ financial, physical and mental wellbeing. Options include enhanced sick leave, financial assistance, financial eduction, adjusted hours of operation and heightened child care provisions.

Zoom and Teams meetings give a valuable insight into life outside the office and pushed the bounds of how employers view the employee experience. Speaking to employees on a personal level and offering tailored support packages can be an effective way to improve the emotional wellbeing of employees.

Due to Covid19 we are introducing new products and services, so whether you already have an employee benefits plan in place which you would like to review, or if you’d like advice on starting a plan from scratch, please get in touch today to discover how the Generation Employee Benefits team can help you.