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Tag: workplace

  • Auto-Enrolment: What employers need to know

    Auto-Enrolment: What employers need to know

    This is a huge increase in numbers compared with the first 14 months of inception, when around 3,000 of the UK’s largest employers reached their staging date.

    A survey of IFAs carried out by financial research organisation Defaqto, on behalf of Now: Pensions, at the start of this year hinted at the problems that could lie ahead.

    It found that 55 per cent of the 264 consultants and advisers surveyed had concerns about their ability to service organisations that were due to stage between April and June 2014. In fact 17 per cent said they had no intentions of advising on auto-enrolment, of which 27 per cent considered the administrative burden too onerous.

    However, the volume of employers hitting their staging date at the same time is only part of the issue. The fact that many are thought to have left their auto-enrolment planning till late will only serve to compound the problem.

    Many also lack the knowledge they need to make informed decisions about choosing the best auto enrolment solution for their employees, according to 89 per cent of the IFAs surveyed by Defaqto.

    It is with this in mind that Financial Advisers have got a very strong role to play. Becoming ‘workplace pension friendly’ is not really about the selection of the end pension scheme. It’s all about the compliance and fulfilling your duties.

    Employers want to comply with the regulations and make the installation and communication processes as simple as possible.

    The choice of the end scheme is secondary, it’s important but it’s secondary. For an employer, this is about compliance.

    Therefore what are the things that an employer needs to bear in mind.

    Up until February 2018, employers will need to automatically enroll all of their “jobholders” in a workplace pension scheme. Minimum employer contribution levels will also apply. Jobholders may choose to opt out of the scheme, though.

    1. Employers should identify the date when they must start auto-enrolment. The largest employers started from 1 October 2012, with smaller and new businesses phased in over the next four years.

    2. Employers should check in advance whether their existing pension scheme meets the minimum requirements for auto-enrolment. This includes minimum contribution levels (for defined contribution schemes) or benefit levels (for defined benefit schemes). Also, the jobholder must not be required to provide any information or to express a choice (for example, about the investment of contributions) in order to become an active member.

    3. Employers should identify their jobholders and establish which of them are not already enrolled in a compliant scheme. Jobholders include employees, temporary workers, directors employed under a service contract and agency workers (who are considered to be employed by whoever is responsible for paying them). They must have a minimum level of earnings (set at the income tax threshold) to qualify. Jobholders aged between 22 and state pension age who are not already members of a compliant scheme will need to be automatically enrolled in one.

    4. If any jobholders are not already enrolled in a compliant scheme, employers should consider what scheme to use to meet the auto-enrolment requirements.

    5. Employers will need to check that they are satisfying the requirements in respect of minimum contribution levels for their employees. For auto-enrolment purposes, contributions are based on a definition of earnings which includes salary, wages, commission, bonuses and overtime. Contributions are only paid in respect of earnings in a defined band (currently £5,668 to £41,475). Contributions to an existing scheme may be based on a different definition of earnings, so company payroll systems may need to be updated.

    6. There will be an optional waiting period of up to three months before an employee needs to be automatically enrolled into a workplace pension. Workers can, however, opt in during the waiting period.

    7. Employers should also put processes in place to identify auto-enrolment triggers for existing employees and new joiners (eg when they turn 22 or reach the minimum level of earnings).

    8. Individuals can opt out of scheme membership, within one month of becoming a scheme member or receiving enrolment information. If they do so, all contributions must be refunded. Someone who has opted out can apply to re-enroll, but only once in a 12-month period. Automatic re-enrolment will apply every three years, although employers will have some flexibility about when re-enrolment should take place.

    9. Employers will need to communicate with staff about auto-enrolment and explain that they have the right to opt out if they wish. Employers must also report to the Pensions Regulator to confirm that they have complied with their auto-enrolment obligations.

    Employers cannot encourage jobholders to opt out of auto-enrolment nor can they encourage candidates to do so during the recruitment process – penalties will apply. Employers should bear this in mind when communicating with their workforce about the new requirements.

    Don’t stick your head in the sand hoping that this is going to go away because it is here to stay. Help is available with many advisers, providers and payroll companies offering guidance through the workplace pension maze so don’t be afraid of picking the phone up and asking for help.

  • From Startup to Scale-up: 6 Essential Questions Every Growing Business Leader Must Answer

    From Startup to Scale-up: 6 Essential Questions Every Growing Business Leader Must Answer

    Getting a business off the ground brings with it many challenges. And, when it then comes to scaling up, leaders will have to contend with a whole other set of matters. But the hard work is worth it and rewards plentiful.

    Scaling Up: The UK’s Secret Sauce of 1%

    Imagine a tiny brewing kettle on a bustling street—only one out of every hundred SMEs in the UK is a scale‑up, but these dynamic little potions churn out a staggering £500 billion. That’s a full 22 percent of all SME turnover, a hefty punch from a minuscule slice of the market.

    What Exactly Is a Scale‑Up?

    • Growth threshold: 20 %+ rise in staff or sales over the last three years.
    • Today’s scene: roughly 29,000 scale‑ups already bursting onto the stage.
    • More than that—an extra 13,000 businesses are in the “so‑soon‑we’ll-be‑here” queue, ready to disrupt.
    • Each one is a seed of innovation, poised to shake up markets with fresh ideas.

    From Start‑Up Chaos to Scale‑Up Magic: Six Essentials

    1. Mindset Shift: Start‑ups thrive on hustle, scale‑ups thrive on strategy. Imagine swapping a sprinting marathon for a strategic road trip.
    2. Systematization: Automate the repetitive, and you’ll free up brainpower for the big questions. Think of it as building a self‑sustaining ecosystem, not a tornado of chaos.
    3. Talent Tactics: Hiring was once about “can you survive in a cramped office?” Now, it’s about “can you scale with us?” Bring in folks who grow with the business.
    4. Funding Wisdom: Scale‑ups need capital, but not just any capital. Look for investors who understand your goals, not just the numbers.
    5. Customer Focus: Scale‑ups must maintain the personal touch that made them a hit while ramping up offerings. Imagine being a friend‑in‑the‑community while expanding a national franchise.
    6. Adaptable Leadership: The captain of a scale‑up needs to chart multiple courses simultaneously: product, culture, and growth. It’s a balancing act that only the brave can master.

    If you’re steering a start‑up ship and eyeing the horizon where scale‑ups roam, keep these anchors in mind. The road is wild but walking it with a bit of humour, grit, and a clear vision can transform your dream into a four‑letter economic headline.

    What’s the purpose of your business?

    Why Your Biz Exists: It’s Not Just About the Dough

    Hey there, business owners and dream‑chasers! Let’s cut to the chase: you’re probably wired to think that money is the sole reason behind your venture. But the truth is, that’s only half the story.

    Money vs. Happiness: The Real Deal

    A recent study from the University of Bath had a nice chin‑wrestle with the classic “more cash, more joy?” question. Here’s the kicker:

    • Up to a certain income threshold, a bit of green can indeed add a sparkle to life.
    • Beyond that sweet spot, the link between fat stacks and smiles becomes fuzzy—think of it like a blurry selfie.
    • Other ingredients—purpose, community, fun—often outshine the paycheck.

    The North Star: Purpose

    Picture this: a crew that’s all on the same page, driving toward a shared mission. That’s the secret sauce. It binds the team, gives the business a roadmap, and fuels everyday hustle.

    • Teams with a clear purpose report higher “happiness” levels.
    • They’re also supercharged—they get more done and hit those growth targets faster.

    Workplace Mojo: Happy Workers = More Pay

    Statistics have spoken loudly: happy employees are 12 % more productive than their gloomy counterparts. If that didn’t tickle your brain a bit, here’s another bonus:

    • Companies that keep their folks engaged see a whopping 21 % boost in profitability compared to the disengaged stuff.

    So, next time you’re drafting a pitch or winging that launch, remember: chasing the cash is great, but chasing genuine purpose is the fastest way to a booming, joyous business.

    Are you ready to make systemic change?

    From Start‑Up to Scale‑Up: The Rough Road Ahead

    Moving a business from the lab‑equipped startup phase into the bustling world of scale‑up isn’t a tidy, smooth transition. It’s messy, unpredictable, and downright tough. And guess what? Those who lead this mission better be ready to roll with the punches.

    It Takes Grit (and a Bit of Risk)

    To skyrocket your venture you’ll have to face the hard truths about how you’re running things. Ask yourself:

    • Why am I doing it this way?
    • Are my processes on point?
    • Am I stuck in the same old habits, or am I copying another company?

    Honest self‑assessment is the first step. It’s the courage you need to spot what works and what’s dragging you down.

    The Work‑Week Shake‑up

    One of the biggest shifts in UK business right now is how we structure our working time. For decades the script has been: Monday to Friday, 9 am‑5 pm. But the four‑day workweek is rewriting that story. Tyler Grange even made the change permanent after a successful pilot. The outcome? Higher productivity. More employee joy. Fewer tired teams and lower absenteeism.

    Try not to think of this as a mandatory four‑day week. The bigger message is: Flexibility matters. Whatever work rhythm better fits your lifestyle and business model is worth exploring.

    Are You Stuck in the Old Routine?

    Workplace trends are changing at break‑neck speed. If you’re still clinging to yesterday’s practices, you’re risking relevance. The stakes? Drift into obscurity or even business failure. So, you’ve got to think hard about what standards you’re keeping and whether they need a serious makeover.

    Are you committed to ESG and social impact?

    Why ESG Is the New Buzzword in Business

    ESG isn’t just a fancy acronym that points to greener factories or kinder Mondays. It’s the secret sauce that helps companies cut costs, unlock fresh markets, and snag customers who care about the planet. And, it’s shaping the way we all live.

    Business Leaders － Your Duty to Make ESG Stick

    It’s no longer just a side note you can ignore. Think of ESG as the new politics of commerce. Employees, clients, suppliers, and even your partners are demanding that you take it seriously. If you skip the strategy, you’ll find hiring, sales, and procurement turning into a maze that’s harder than a “C” level monster.

    Build a Purpose‑Driven Plan

    Once you draft and share a solid ESG strategy, you’ll create a purpose that goes beyond the dollar sign. Picture it like a safety net that lets your business prosper, no matter whether hurricanes or tech disruptions hit.

    Key Takeaways:
    • ESG boosts efficiency and opens new revenue streams.
    • It’s a societal force—your company influences how we live.
    • Neglecting ESG can make hiring, selling, buying feel like a labyrinth.
    • Implementing a plan gives you resilience and a definitive purpose.

    Do you place equal importance on your employees’ physical and mental health?

    Why Your Team’s Well‑Being Is the Secret Sauce for Success

    Top‑tier startups that flip their mindset around employee flourishing will reap the biggest rewards. Mental health has become the headline issue for HR pros across the UK, and tackling it head‑on is the key to staying ahead.

    Stress‑Sick in Britain: A Hurt‑Fast Reality

    • Nearly one in five working adults had to take a break because of stress last year.
    • Experts warn that the UK could be on its way to becoming a “burnt‑out nation.”
    • Work‑related mental health problems have doubled, costing businesses a whopping £118 billion every year.

    It’s clear: a massive makeover is needed. We’ll have to put more effective safety nets in place for anyone in distress – and keep them at the center of retention and reward plans, not hand‑rolled by under‑seasoned HR teams.

    “Mental‑Health‑First Aid” is Just a Band‑Aid

    Why settle for a quick fix? Mere apps and “first‑aid” packets won’t do the trick. Employees deserve real support—real initiatives that genuinely boost mental well‑being. And when people feel good, their physical health, motivation, morale, and output skyrocket.

    In‑House Psychologists: The Long‑Term Game Changer

    More firms are hiring in‑house psychs and counsellors, and the payoff is huge.

    • Take Tyler Grange—after bringing in an in‑house psychologist, absenteeism dropped by 70 %. That’s a headline worth losing.
    • It’s not just the big names; small and midsize teams are embracing the trend.

    When you care for people properly, you turbo‑charge your growth journey. By keeping the same workforce on board, you hit milestones faster and free up time for strategic thinking—which is the secret ingredient that keeps businesses moving forward.

    Ignore It, And You’ll See Growth Stall (Or Worse)

    Failing to address mental health can slow or even halt your business’s trajectory, often starting with the founders. That’s why qualified specialists are essential. Well‑meaning amateurs can accidentally cause more harm than good.

    Bottom line: build a culture that nurtures brains as well as wallets. Your people will thank you, and your company will thank you more.

    Is your company culture clearly defined?

    Why Company Culture Is Your Secret Weapon

    Ever feel like your company is a ship without a compass? That’s because most businesses miss one crucial ingredient: culture. It’s not just another corporate buzzword—it’s the real backbone that lets CEOs, employees, and customers vibe together.

    What’s your purpose? What do you stand for?

    If you can’t answer “Why do we exist?” and “What’s our North Star?” it’s hard to let anyone else see whether you’re a good match for them. Think of it like this: you’re a recipe. Without the right ingredients, the whole dish falls flat.

    • Customers: Want a brand that feels authentic.
    • Recruiters: Hunt for places where people love their work.
    • Suppliers: Prefer partners who’re reliable and share values.

    A Strong Culture = Easier Scaling

    Once you nail down your culture, you’re basically building a company that runs itself. Here’s the corporate version of “Good things happen when you let your people lead.”

    Peter Drucker put it best: “Culture eats strategy for breakfast.” Picture a steaming bowl of breakfast meals surrounded by a team that’s already aligned—no need to spend hours persuading them why the strategy matters. It just feels right.

    How to Get It Right

    Start small, keep questions in mind, and involve everyone:

    • Ask “What matters most to us?”
    • Make your values visible in daily actions.
    • Celebrate small wins that reinforce the vibe.

    Once you’ve got that, the rest of the business—product development, marketing, sales—just flows in sync. That’s when growth becomes a natural part, not a grind.

    Does your business plan reflect the world around you?

    Flexibility: The Secret Sauce for Modern Business

    We’re living in a world that flips, turns, and tosses the status‑quo like a frisbee—so if you think a fire‑proof plan is the ticket to success, you’re in for a surprise. A lock‑step roadmap is about as useful as a stop‑sign in a hurricane.

    Planning Is like Setting a Date in a Time Machine

    Remember the old German field marshal, Moltke the Elder, who told us “no plan survives first contact with the enemy”? In the business arena, the enemy is the market itself. The moment you put a plan on paper, it’s wearing a guardian angel’s halo until it’s tossed aside by reality.

    Why the “Fixed Plan” Mentality Is a One‑Way Ticket to Boredom

    • Launch with enthusiasm, finish with flexibility. Great ideas are launchpads, not unmoving endpoints.
    • Pivot like a champ. If your product tastes stale, throw it out, remix it, or write a brand‑new recipe.
    • Keep your eyes on the horizon. A clear direction beats a jagged, rigid path any day.

    Tyler Grange: From Email Scammers to ESG Champions

    With over a hundred team members spread across seven UK offices, Tyler Grange isn’t just about meeting deadlines and office parties. They’re a proud member of the All‑Party Parliamentary Group on ESG, the Better Business Network, and strong supporters of the Better Business Act. Their mission? A cleaner, greener, and fairer future—one business at a time.