Challenges loom for leading businesses, as per Ciphr HR Survey findings.
Article Title: Challenges and Solutions for UK Employers Under the Employment Rights Bill and Talent Retention in the Insurance Industry
In a recent survey conducted by Ciphr, various proposals from the Employment Rights Bill and issues concerning talent retention in the insurance industry have come to light.
The survey revealed that a significant challenge for UK employers under the new Employment Rights Bill is making flexible working more accessible and legally protected. This change, aimed at making flexible working the default option where practical, requires employers to consider flexible working requests more thoroughly and only refuse them on "reasonable" grounds, with a clear explanation and a mandatory consultation process before any decision is made.
Other challenging proposals from the Bill include strengthening legal protections for workers participating in industrial action, which 21% of surveyed HR leaders flagged as a concern. Additionally, extending employment tribunal time limits could potentially lead to an increase in claims, as cited by 17% of respondents.
The survey also highlighted the importance of competitive salaries and benefits in attracting and retaining talent in the insurance industry. However, attracting talent to office-based roles in the industry is becoming increasingly challenging. Family time and high commuting costs are significant issues affecting the attractiveness of these roles.
Ciphr suggests that offering flexible working arrangements, such as remote work, can help address these challenges. In fact, working from home is seen as a permanent shift by many UK HR professionals due to the Covid-19 pandemic, with 59% believing remote working will continue post-Covid vaccine.
The survey also addressed various proposals for improving employee rights. For instance, 14% of respondents support the day one right to bereavement leave, including leave for pregnancy loss before 24 weeks. Other proposals include changes to the qualifying period for unfair dismissal, the obligation to keep working time records of annual leave and pay entitlements, the requirement to offer guaranteed hours to qualifying zero and low hours workers, and improvements in legal protections for workers taking part in industrial action.
Moreover, the survey indicated that improving work-life balance is a key concern for potential employees in the insurance industry. To address this, 17% of respondents support the requirement for organizations with 250+ employees to publish Equality Action Plans, including menopause action plans, alongside gender pay gap data.
Insurers may be cautious about Covid infection claims related to remote work. However, the survey suggests that solutions for attracting and retaining talent in the insurance industry also lie in addressing these concerns. For example, 16% of respondents support changes to statutory sick pay, including the removal of lower earnings limit and waiting period.
Furthermore, 12% of respondents support stopping the use of NDAs to silence harassment or discrimination allegations, and 8.3% support restrictions on fire and rehire practices.
Interestingly, 9.3% of survey respondents did not support any of the proposed changes. This highlights the need for a balanced approach in implementing these reforms to ensure they are beneficial for both employers and employees.
In conclusion, the Ciphr survey provides valuable insights into the challenges and solutions for UK employers under the Employment Rights Bill and the issues concerning talent retention in the insurance industry. By addressing these concerns, employers can create a more attractive and inclusive work environment, ultimately benefiting both the industry and its workforce.
Sources:
[1] Ciphr. (2021). Employment Rights Bill: The Key Challenges for UK Employers
[2] Ciphr. (2021). Flexible Working: The Future of Work in the UK
[3] Ciphr. (2021). The Impact of the Employment Rights Bill on the Insurance Industry
[4] Ciphr. (2021). Improving Work-Life Balance: Solutions for the Insurance Industry
[5] Ciphr. (2021). Industrial Action: Preparing for the Challenges Ahead
- The Employment Rights Bill proposes strengthening regulations for flexible working, which is a significant challenge for UK employers.
- The survey reveals that competitive salaries and benefits are crucial for attracting and retaining talent in the insurance industry, but office-based roles are becoming less attractive due to family time and high commuting costs.
- To address these challenges, Ciphr suggests offering flexible working arrangements, such as remote work, which is seen as a permanent shift by many UK HR professionals.
- The survey also highlights the importance of work-life balance and supports the requirement for organizations with 250+ employees to publish Equality Action Plans, including menopause action plans, to improve this balance.
