Nicola D.’s Post

🧳 Autumn Budget 2024… Definitely a hot topic of conversation that’s been happening over the past week since the announcement. But what the Autumn Budget means for employers, employees and benefits? 👉While the rise in NI contributions has undoubtedly turned up the financial pressure on employers, it has also increased the untapped value of exploring salary sacrifice benefits. 👉 Earlier this year, 67% of HR managers in the UK revealed that a lack of budget was their largest roadblock and that they were expected to “do more with less”. Already feeling the squeeze, these new announcements may not do much to boost HR budgets, and with businesses now paying more NI, maximising the value and impact of your existing Recognition & Reward pot is going to be crucial going forward. Read more in our latest article below into what employers, employees and the world of benefits can expect to see. Reward Gateway #AutumnBudget2024 #EmployeeEngagement https://lnkd.in/e5VSewrb

In the evolving landscape of employee benefits and financial wellness, understanding the key differences between Earned Wage Access (EWA) and Pay Advances is crucial. 🚀 Our latest blog explores these distinctions and why they matter for both employees and employers. Learn how Spentra's Money Earned® feature is redefining financial wellness by offering a flexible, non-loan solution for immediate access to earned wages. Dive into the details and see why EWA is a game-changer in promoting financial health and autonomy. 💡🔗 #EmployeeBenefits #FinancialWellness #EarnedWageAccess #Spentra https://lnkd.in/e3DUxK2b

I’ve already had two conversations today with clients on how we can help them with salary sacrifice schemes and recognition. The link to the ebook below could be interesting for you……

The real cost of the UK Autumn Budget isn't what you think. Everyone's talking about: 1️⃣ 15% Employer NI (up from 13.8%) 2️⃣ £12.21 National Minimum Wage 3️⃣ £40bn in tax rises But here's what smart employers are focusing on instead: → Salary sacrifice opportunities → Recognition programme optimisation → Strategic benefit redesign Because when employer costs go up, you need more than just budget cuts. You need a smarter approach to employee experience. We've broken down exactly how leading companies are turning these challenges into opportunities. https://lnkd.in/eJ85Dd2V #UKBudget #HR #EmployeeBenefits

Interesting to see the variety of topics which caught the eye of each contributor. My views understandably followed the health and benefits messages and the positive impact we (the employee benefits industry) will continue to have on employee productivity and business efficiency. Personnel Today https://lnkd.in/eXZiYFiu

The National Payroll Institute has raised concerns regarding the deteriorating financial wellness of Canadian workers, based on the findings from the 16th Annual National Payroll Institute Survey of Working Canadians. https://hubs.la/Q02RnSjm0 #FinancialWellness

With the first budget being delivered since Labour came into power, People Management outline the key changes affecting employers and what HR need to know. Read more below ⬇️ https://lnkd.in/eFkCnaEW

"As EWA grows in popularity, employers are finding financial wellness benefits are becoming critical to remaining competitive in the current job market. In addition to reducing stress and possibly boosting productivity, better benefits can equal higher retention of top talent." This article on Forbes explores how earned wage access can unlock financial freedom for employees: https://bit.ly/4edYTae

https://aihr.ac/3xpyIN9 Dive into the attached article on Cost to Company (CTC) to uncover the comprehensive value of employment packages! 💰 From decoding direct and indirect benefits to simplifying the calculation of CTC, the article covers everything to ensure you make informed decisions! #HR #HumanResources #CTC #SalaryTransparency

The recent Autumn Budget 2024 brought some relief, but many HR professionals feel it missed critical areas. While SMEs will benefit from the employment allowance increase, rising wage costs and National Insurance contributions add new pressures on pay structures. With limited funding for training, employers may face widening skill gaps and may turn towards automation or offshoring. Mental health support also saw little focus, despite its vital role in retention strategies. HR leaders are calling for more: greater support for skill development, retention incentives, and mental health resources to build a resilient, empowered workforce. Read more at https://lnkd.in/e8smzrnx. #AutumnBudget2024 #SkillsForGrowth #EmployeeWellbeing #WorkforceInvestment #RetentionMatters