Are we directing employees needing help to sources of regulated financial information and guidance?.Should we change how we communicate with employees about pay and benefits?.How does our benefits package support employee financial wellbeing?.What can we do to protect people from financial scams, such as around pensions?.Are certain groups of workers, such as female, black, or disabled staff, being affected disproportionately by inflation? If so, what can we do to support them?.Should we invest in the HR technology needed to investigate whether our people are paid fairly?.Can we offer opportunities for low-waged workers to increase their skills and experience so they can take on higher-paid roles?.If we canвЂ™t increase pay for our employees by as much as the cost of living, what else can we do to reduce the impact of inflation on earnings?.Are the organisations in our supply chain paying their workers enough?.Are we paying our workers a liveable wage?.WhatвЂ™s happening to workplace financial wellbeing?.Financial distress can also lead to presenteeism, in which employees attend work but, because of health problems or other personal issues, donвЂ™t perform to their usual standards.Дuring the existing cost of living crisis, pay and benefit professionals should consider whether their organisation's reward approach is fit for purpose by exploring questions such as: Reward is an area of specialist knowledge in our Profession Map.ДЄ CIPD report shows that the business case for supporting employeesвЂ™ financial wellbeing is clear: those who experience money worries are more prone to absence from work. вЂCompensationвЂ™ for example is usually taken to mean just pay (both fixed and variable) while вЂremunerationвЂ™ might be used interchangeably with вЂrewardвЂ™ to mean the wider benefits package, such as the value of employer pension contributions. For example, some employers might treat location allowances as part of fixed pay, while others may see it as variable. It can include bonus, incentives and overtime payments. This can include location allowances and other associated guaranteed payments. It can also include wider provisions for employees, with the term вЂtotal rewardвЂ™ sometimes used to encompass non-pay benefits, such as flexible working opportunities.ДЇixed (or base) pay is a guaranteed cash wage or salary paid to employees for doing their work for a contracted time period, such as a 37-hour week. The term вЂrewardвЂ™ generally covers all financial provisions made to employees, including cash pay, and the wider benefits package (such as pensions or private medical insurance).

Ups driver pay progression 2015