View more on these topics

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.

Greg Broomer 2

Around 19.1 per cent had struggled to communicate changes throughout their organisation and were now looking at how to make their employees see the value of joining a pension scheme. This builds upon market research completed by Johnson Fleming in 2013, as 22.6 per cent of respondents stated then that they envisaged communicating information on auto-enrolment would be their biggest challenge before staging.

Respondents in this year’s survey also felt that they were not receiving data from their payroll providers in a timely fashion (19.1 per cent), which was then having a major knock-on effect to wider auto-enrolment and business critical processes.

Commenting on the results, Greg Broomer, senior consultant at Johnson Fleming, said: ‘Communicating information about auto-enrolment is essential as it allows employees to make informed decisions about retirement, but businesses have struggled to get information from providers in a timely manner to help them do this effectively. Businesses are now focusing on ensuring their employees understand the value of the pension scheme and what it can do for them. Coupling auto-enrolment with the changes in the recent budget means communication will be a huge focus for employers this year.

‘The results also highlighted the difficulties businesses have had with their administration processes and the receiving of timely information from their payroll provider. Getting these processes working effectively is critical for successful auto-enrolment and it still looks like there is work to do to make auto-enrolment business as usual within the nation’s HR, pensions, payroll and finance departments.’

Survey results

What is the biggest challenge you’ve faced post your staging date?

  • Communicating the changes to your staff: 19.1 per cent
  • Getting support from your provider/adviser: 4.3 per cent
  • Receiving data on time from your payroll provider: 19.1 per cent
  • Managing the ongoing administration: 10.6 per cent
  • Dealing with employee queries: 8.5 per cent
  • Assessing the performance of your scheme: 10.6 per cent
  • Keeping up to date with the required record keeping: 12.8 per cent
  • Other: 14.9 per cent

Recommended

Guide cover

Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.

MS-Caption-Competition-130814.jpg

Caption Competition – 13 August 2014

Fancy a spot at this year’s biggest financial services networking event? Mortgage Strategy is offering the caption competition winner a chance to sit at our table at the Well Child Financial Services Race Day at Goodwood Racecourse. All you have to do is submit a witty caption for the photo above and you will automatically […]

Guide cover

Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.

Newsletter

News and expert analysis straight to your inbox

Sign up