Jelf Employee Benefits

UK Small Businesses Are Stressed Out – And They Don’t Know How To Deal With It

UK Small Businesses Are Stressed Out – And They Don’t Know How To Deal With It

73% of UK small businesses say that stress has been an issue for them in the past three years, according to a survey by Jelf Employee Benefits. The survey, of 124 UK companies, revealed that despite the fact 85% of respondents believe stress is only increasing in risk to their firm, 75% don’t actually have a policy to help. Among those businesses who have some form of relief available, just 5% believe their line managers and employees are actually aware such help exists. According to the Office of National Statistics’ Labour Force Survey, 45 million days were ‘lost’ to stress, anxiety and depression last year, costing the UK economy £2.4bn. Jelf Employee Benefits suggest that employers and employees suffering from stress should avail of cognitive behavioral therapy (CBT), provi... »

Small Businesses Advised to Take Action to Comply with New National Living Wage

Small Businesses Advised to Take Action to Comply with New National Living Wage

Small business owners are being urged to take action to ensure they comply with the new National Living Wage (NLW) in a report by Jelf Employee Benefits. The new NLW requirement sets a higher minimum income level for employees aged over 25, rising to £7.20 an hour from April 2016. While this element is generally understood, the interaction with the use of Salary Sacrifice in employee benefits provision appears to be an unknown problem for many businesses and the report has suggested that employers may inadvertently breach the new minimum income level when it comes into effect. The survey found that only 9% of employers have reviewed Salary Sacrifice usage against new NLW requirements with almost four in 10 employers (39%) unaware of there even being an issue. While 19% were aware of the po... »