Monthly Archives June 2017

More than a fifth of small business owners offer no employees benefits

Small businesses are suffering a staff brain drain with nearly one in five workers quitting each year for new jobs blaming poor employee benefits, according to research from Pure Benefits. The study by the company found 18% of staff – around 450,000 a year – have switched in the past five years saying a lack of benefits was a major reason. Small businesses with fewer than 50 staff employ more than 12.4m across the UK and have total annual turnover of more than £1.2 trillion but struggle to source employee benefits such as life insurance, income protection and private medical
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Categories: News.

Half a million employers meet workplace pension duties

More than half a million employers have now completed their duties under the Government’s landmark workplace pension savings drive. The Pensions Regulator said by 31st March 2017, 503,178 employers had completed their duties under automatic enrolment, with more than 7.6 million workers now saving for their retirement after being put into a workplace pension. Automatic enrolment started in 2012 with the biggest employers that tend to have the most experience of pensions. It is now being rolled out to smaller employers, some employing just one or two people. The Pensions Regulator said in the first three months of this year
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Categories: News.

Pension Fear for SMEs

As reported on this news page in December last year (http://petaurumsolutions.co.uk/2016/12/14/50-accountants-unable-answer-auto-enrolment-queries/) according to a report by employee benefits adviser Helm Godfrey, things haven’t got much better, with small and medium-sized businesses continuing to be at risk of choosing unsuitable pension schemes because of a lack of auto enrolment knowledge among accountants. The report has revealed that while 70% of small firms with 4 or fewer employees would turn to their accountant for auto enrolment advice, 43% of accountants believe they do not know enough about auto enrolment to give accurate and up-to-date advice. More than half (56%) of accountants admitted
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Categories: News.

Financial problems for over half of employees are affecting their work performance

One of the biggest concerns cited by many of those being polled on their views during the General Election campaign has been the high cost of living compared to wages. Now a new report claims that over half (55%) of employees are experiencing financial problems, which are affecting their behaviour, relationships and ability to perform at work. Although the nationwide study of the financial wellbeing of UK workers The DNA of Financial Wellbeing 2017 report, claims that nearly a third (32%) cite finance as their biggest concern; 66% of HR directors, think that financial worries are not of concern to their employees.
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Categories: News.