A run down on the top HR and Payroll news stories from the last week or so, from HR software provider Carval Computing Limited.
- Payrolling of Benefits in Kind - an end to the P11D?
- TPR fined almost 200 employers for AE breaches last year
- Lack of development contributing to engineering skills shortage
- ‘Embedded learning’ increases employee engagement
- Put people before technology, says Source UK Services HR director
- Employers don’t understand Gen Y motivators
- Millions of savers locked out of pensions freedoms
- Almost five million people at risk of poor pensions decisions
- Mental health should be "critical aim" for businesses
- Graduate vacancies predicted to rise, despite skills shortages
- Talent shortages a 'major challenge' for UK companies
- Cooper: Engagement programmes have had no impact on wellbeing
- Employees planning for retirement sooner due to pensions freedoms
Payrolling of Benefits in kind - an end to the P11D?
HMRC regularly consult with payroll software developers on changes to handling payroll in the UK. Carval's Technical Director Jason Sweby was invited to attend a consultation meeting at The Treasury regarding the proposed legislation to allow companies to voluntarily payroll certain benefits in kind (BiKs). Read more.
TPR fined almost 200 employers for AE breaches last year
The total number of employers fined for failing to comply with auto-enrolment reached 169 by the end of 2014, according to figures released by The Pensions Regulator (TPR) today. Read more.
Lack of development contributing to engineering skills shortage
Engineers in the UK are not being developed to their full potential, according to a study by Towers Watson and the Institution of Mechanical Engineers (IME). Read more.
‘Embedded learning’ increases employee engagement
L&D professionals should focus on ‘embedded learning’, focused on performance, to increase employee engagement, L&D expert Charles Jennings said yesterday. Read more.
Put people before technology, says Source UK Services HR director
HR and L&D professionals must put people first when integrating new technologies, according to Source UK Services HR director Caryn Berlingieri. She said that people must come first. “Don’t grow a business, grow people,” she said. “People will grow the business.” Read more.
Employers don’t understand Gen Y motivators
There is a mismatch between what employers think Gen Y staff want from their careers and what younger employers actually want, according to research conducted by Penna. Penna surveyed 1,000 senior managers and 1,000 Gen Y employees (aged between 18 and 34). According to the results, employers rate leading a team and experiencing lots of different jobs and sectors as the most important motivators for Gen Y. However, Gen Y employees themselves rate achieving a work-life balance and ‘being totally fulfilled and happy in my work’ as the most important drivers, alongside earning a good salary. Read more.
Millions of savers locked out of pensions freedoms
Millions of people may not have access to the new pensions freedoms coming into effect in April, according to analysis of the pensions market by pensions consultancy Xafinity. Read more.
Almost five million people at risk of poor pensions decisions
Research by The National Association of Pension Funds (NAPF) has found that 4.8 million people are at risk of making poor decisions after the government's pension reforms become into effect. Read more.
Mental health should be "critical aim" for businesses
Maximising the mental health of staff should be the “critical aim of businesses,” Stephen Bevan, director of the Centre for Workforce Effectiveness at the Work Foundation, has said. Read more.
Graduate vacancies predicted to rise, despite skills shortages
Employers predict an 11.9% rise in graduate vacancies in the coming year, according to the Association of Graduate Recruiters (AGR). This is an increase of 4.3% compared with the same time last year. The AGR’s annual survey, which this year is based on the responses of 201 of its members, also found that 44.8% of employers had unfilled vacancies in 2013/14. Read more.
Talent shortages a 'major challenge' for UK companies
Over a third (34%) of UK companies will be affected by major talent shortages over the next year, while 40% say recruiting and retaining staff is a major challenge, according to research by benefits provider MetLife International. Read more.
Cooper: Engagement programmes have had no impact on wellbeing
Most employee engagement programmes have had no impact on staff health and wellbeing, according to Cary Cooper, professor of organisational psychology and health at Lancaster University Management School. Read more.
Employees planning for retirement sooner due to pensions freedoms
Over a third (34%) of employees will think about planning for retirement sooner as a result of new freedoms, according to research by NEST. This rises to 40% among people aged 22 to 30. New pension rules allow people over 55 to withdraw money from their pension pot when they choose, and 25% of what they withdraw will be tax-free. Read more.