The government has introduced a new law designed to help people save more for their retirement. It requires all employers to enrol eligible workers into a workplace pension scheme if they are not already in one.
Workplace Pension and Auto Enrolment
Our in-house Auto Enrolment and Employee Benefits team have a wealth of experience in advising companies and professional services firms. A great endorsement that we have the ability to combine both leading edge benefits consultancy with an individually focussed employee advisory service.
Employee Benefits
More Choice… Your Choice…
If the words ’employee benefit’ are taken literally, you’d be forgiven for thinking that all the benefit sits with the employee. But with 66% of staff saying they would be more likely to stay with an employer that offered good benefits, it’s clear that employers also stand to gain. It seems that fewer people are inclined to do any more than the bare minimum needed to do their day-to-day duties.
But is this something companies really need to worry about?
After all, aren’t there plenty of people out there desperate for a job if you lose a disgruntled employee?
Well, putting aside the fact (and it’s a very big fact) that it can cost £30,614 to replace an employee earning £25,000, unhappy and disengaged employees are less effective at their job, less motivated and more likely to go off sick from work.
For employees, a benefit package can help plan for old age and unexpected events (like becoming ill or injured), and can save them a bit of money on day-to-day expenses too.
For employers, a strong, relevant and well-communicated benefits package not only helps employers make sure they get the pick of employees at recruitment, but can also help them retain happy, committed workers.
We can assist you in how you can best put together an appropriate, flexible employee benefits solution that will help to improve your business, and create an employee engagement strategy to help communicate your benefits solution.
You can find out how Chiltern Select Essentials can work for you in Our Services section, at www.chilternselect.com or simply contact us on 01494 451441 or email enquiries@chilternselect.com
UK News
The Government is boxed in from this week's events - and lacks the Houdini skills to escape, says the BBC's Faisal Islam
Canada had been hoping to secure a trade deal with the US next month to avoid steep tariffs.
The BBC understands the car maker is considering the move amid the introduction of US tariffs.
The changes could cost up to £3bn which will have to come from higher taxes or cuts elsewhere, given the chancellor's self-imposed borrowing rules.
Plans to help those affected by benefits cuts into work are not "properly considered", officials tell the BBC.