January 2015 I £6.95
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www.employeebenefits.co.uk January 2015 I £6.95 ALIGNING REWARD WITH BUSINESS STRATEGY Inspiring choices Motivation tactics for the new year Wellbeing channel Discovery Networks tunes into staff health Financial education supplement Pension changes spur need for knowledge ROLE OF MANY COLOURS Why employers want benefi ts generalists rather than reward and pension specialists EBC_0115 1 12/12/2014 15:21 EB_0115_002_Specsavers_FP.ps 2 03/12/2014 17:39 @ www.employeebenefi ts.co.uk CONTENTS IN THIS ISSUE LEADER Briefi ng 5 Tax and legislation 6 Benefi ts professionals Events 9 Interactive 10 need wider skillsets The big question 11 Stress in numbers 13 An almost constant evolution of business strategy in response to the Cover story 14 economic climate, the need to identify new revenue streams and a Why do employers want benefi ts requirement to keep up with market developments are all part and parcel generalists rather than reward of today’s business world. And with this comes the need for different employee skillsets. and pension specialists? As a result, over the past few years, many of us will have seen our jobs change, and in many Cars 21 cases expand, to support the evolution of our employer. How to boost take-up of a For some benefi ts professionals, this will have involved taking on an internationally focused role salary sacrifi ce car scheme for the fi rst time. For others, it will have meant evolving from a specialist benefi ts role, for Flexible benefi ts 22 example focusing on pensions or health and wellbeing perks, to a more generalist role covering Technology will play a vital role a much broader range of benefi ts. Our cover feature this month (Wider spectrum, page 14) in future fl ex developments delves into this trend. The numerous pension changes we have witnessed over the past Pensions 25 The sheer volume Employees face a race to get few years are just one of the drivers of this trend. The move from ready for pension reforms defi ned benefi t to defi ned contribution pension schemes has led to of work around Motivation 28 many pensions professionals taking on a broader benefi ts remit as pensions has Battle plan to motivate their pensions workload has become lighter. made it necessary employees in the new year On the other hand, the sheer volume of work around pensions for many benefi ts in recent years has made it necessary for many benefi ts Healthcare 33 professionals to expand their remit and knowledge to professionals to Supporting staff with include pensions. expand their remit musculoskeletal disorders One way that reward and benefi ts professionals are being Employer profi le 36 recommended to expand their knowledge base (although this certainly applies in other industries, Discovery Networks focuses on too) is by attending industry conferences and networking events. At the risk of straying into the workforce health and wellbeing realms of self-promotion, those of you who are looking to do so may be interested in attending Buyer’s guide 39 Employee Benefi ts Connect on 4 March in London. I Employee assistance programmes The day-long event will focus on future market trends to stimulate inspirational thinking around Confessions 42 key benefi ts areas. Roundtable discussions, meanwhile, will give delegates the opportunity to Contact directory 43 network and delve further into these ideas with their peers and our expert industry sponsors. Key service providers I hope to see you there. Debbie Lovewell-Tuck, Editor Follow on Twitter: @DebbieLovewell Editor Debbie Lovewell-Tuck [email protected] Associate editor Clare Social media Bettelley [email protected] Reporters Robert Crawford robert.crawford@centaur. co.uk, Marianne Calnan [email protected] Art editor Mark Richardson, [email protected] Sub editor Bob Wells Contributors Sam Barrett, Alison Coleman, Andrea Finney, Howard Gannaway, Nick Martindale Commercial manager David D’Souza david. Follow us on Twitter.com for SUPPLEMENT [email protected] Business development manager Barry Davidson barry.davidson@ breaking news: January 2015 Account manager Media sales twitter.com/employeebenefi t FINANCIAL centaur.co.uk Luke Roberts [email protected] EDUCATION executive Adrian St John [email protected] Event director Juliette Losardo juliette. 3 [email protected] Account manager Richard York [email protected] Centaur NUMBERS GAME Education plans HR portfolio director Beth Pedersen [email protected] PA to directors Alice 4facts and fi gures Like us on Facebook: Look for our HELPING HAND Gerard-Pearse [email protected] Group marketing manager Rochelle Guidance eases 6pressure on staff Jayawardena Group production manager Wendy Goodbun [email protected] ‘Employee Benefi ts’ page WINNING WAYS What goes into an 11eff ective strategy? Cover photo Jacko UP TO SPEED What HR staff 14need to know TOP TIPS How to get the Employee Benefi ts Subscriptions 020 7292 3719 message across Sponsored by Wells Point, 79 Wells Street, London W1T 3QN Editorial queries/press releases email Join our Linkedin group by Tel 020 7970 4000 [email protected] searching EmployeeBenefi ts Supplement: Fax 020 7943 8094 Web www.employeebenefi ts.co.uk Financial education www.employeebenefi ts.co.uk I January 2015 I 3 EB_0115 03 12/12/2014 16:53 Join our affinity scheme to reward your staff and customers the easy way AA Breakdown Cover discounts of up to 34%* off our Why join? online prices • It's completely free to set up • Discounts are claimed using a dedicated reference number • Monthly reporting on calls and sales is available • As well as AA Breakdown Cover, discounts are also available on AA Home Membership and AA Driving Lessons For more information on AA Affinity Schemes please call Emily John on 01256 493 469 or email [email protected] *Applies to Family Roadside & Relay cover in first year only. Other levels of cover are available and varying discounts apply. Enrolment offer available to new Members for their first 12 months of Membership only. Offer not available in conjunction with any other offer/discount or on any other AA product/service. Details correct at time of issue. Automobile Association Insurance Services Limited is an insurance intermediary authorised and regulated by the Financial Conduct Authority. Registered office: Fanum House, Basing View, Basingstoke RG21 4EA. Registered in England & Wales, number 2414212. Affinity Scheme EB_1214_002_TheAA_FP.ps 2 17/11/2014 16:09 BRIEFING SUPPLIERS TOP 15 MOST VISITED Benefi ts market consolidates STORIES ON THE WEB Robert Crawford has become a product provider.” Consolidation of the benefi ts In December, Aviva and Friends Life market is seen as good news for Government to simplify fi nalised the terms and conditions benefi ts professionals. 1 auto-enrolment of a proposed £5.6 billion merger. Hugh Nolan, chief actuary at JLT legislation bit.ly/1yc4W2C The deal will create the UK’s Employee Benefi ts, part of the JLT Lloyds Banking Group largest insurance and savings Group, which acquired Alexander 2 staff to receive back pay business, serving more than 16 Forbes Consultants and Actuaries in bit.ly/1p5uJv4 million customers. October 2012, said: “While Government to go ahead According to Aviva chairman John consolidation obviously reduces the 3 with OTS benefi ts McFarlane, the deal will consolidate Employee Benefi ts in June and overall number of players in the simplifi cation reforms the organisation’s market-leading Arthur J Gallagher taking over market, whether employee benefi ts bit.ly/1w29dL0 position in the UK and allow a much The Oval Group. or insurance, both markets still have Deloitte, PWC and Shell to stronger dividend fl ow and balance There are number of reasons plenty of competition and choice.” 4 offer enhanced paternity sheet position than would have behind such deals, including Integrated product and service packages bit.ly/1xP0OYP been possible otherwise. improvements in the economy offerings may also provide better Also in December, Sodexo helping to create the right climate value for money, as well as fewer Is benefi ts benchmarking 5 still relevant? acquired incentive and recognition for consolidation. competing products for bit.ly/1vTxDDl provider Motivcom, which owns Jon Bryant, London area director organisations to choose from. brands including P&MM Employee at Aon Employee Benefi ts, Meanwhile, for providers, the Higher-rate tax threshold Benefi ts, AYMTM, Allsave, Filmology attributed the consolidation to obvious business benefi ts arising 6 to rise bit.ly/1s42oav and The Voucher Shop. regulatory changes, such as from mergers are greater brand Jaguar Land Rover strikes The deal means Sodexo will now pensions auto-enrolment and the recognition and better economies 7 pay deal with staff be able to offer a wider range of Retail Distribution Review (RDR). of scale, which are reasons why bit.ly/1FNA3aN programmes, including recognition, “The market is also changing,” he consolidation is likely to continue. Employers should act employee benefi ts, sales said. “Post auto-enrolment and JLT’s Nolan added: “With credit 8 now to manage holiday promotions and incentives. post-RDR, there has been a blurring likely to remain cheap for some pay bit.ly/1yDqS9D Some consolidation also of the lines in some areas. For time and confi dence in the took place in the intermediary example, Aviva and Friends Life economy steadily increasing, 9 Fujitsu to pilot emotional market during 2014, with Aon are becoming broadly like consolidation deals may continue to resilience programme bit.ly/1vvuR8y completing its acquisition of Lorica intermediaries and Aon, post-Lorica, emerge over the coming months.” Autumn Statement’s BETTELLEY’S BROODING Follow Clare Bettelley on Twitter: @ClareBenefi ts 10 impact on benefi ts bit.ly/1vqVM5w Consolidationtion and Sodexo’s £41 million wellbeing space, so how A reduction in the B&Q keeps reward simple in the takeover of incentive do employers choose number of market 11 bit.ly/1tYjb8T benefi ts and recognition between A and B? It’s players may also make market is a Becton Dickinson provider Motivcom.