There I was wondering what to Blog about this week, when the post delivered a letter from The Pension Regulator informing us that our Staging Date for Auto-enrolment is 1st Sept 2017. Even for a company such as ours working in financial services, we still have to make sure we meet our obligations and of course communicate the benefits to our employees. But what should we do?
While younger employees might prefer the extra cash, the older ones probably appreciate the pension contributions more. This got me thinking about the responsibilities of employers to do the right thing which may not be popular among employees in the short term. Will the employers ever get the appreciation from the employees to justify the additional costs of providing a ‘good’ pension? Or should the warm feeling that comes with knowing that you have done the right thing be sufficient? Alternatively we could do the bare minimum and put the savings towards the next employee celebration.
Whatever we decide to do, I can be certain that we will be communicating the benefits to our employees. I want to make sure that they understand the benefits of the company pension, their options and I will also take the trouble to explain why the company came to its decision.
A benefits communication platform like BORIS can’t make the decisions for you, but for £1 per employee per month it will help you to make sure your employees are kept informed and know the value of all the benefits you provide!