Meeting multi-generational needs named top benefits challenge facing UK employers

More than half (56%) of UK employers believe that meeting the diverse needs of a multi-generational workforce will be their number one employee benefits challenge over the next three years.

Despite this recognition, the 2019 Benefits Trends Survey from Willis Towers Watson found that less than half of employers (49%) claim to understand their workforce requirements and just 36% have tailored their benefits portfolios to meet their needs.

“As each generation marches relentlessly onwards to the next stage of their lives, and the stretch between age groups becomes more pronounced, the pressing need to cater for their diverse and ever-changing needs becomes more and more apparent,” said Mark Ramsook, senior director at Willis Towers Watson Health & Benefits, Great Britain & Western Europe.

“The survey findings bear this out and the time for employers to act is now. With a dramatic increase in the number of people aged over 70 remaining in employment, today’s workforce can now comprise of up to five generations – from silent generation workers through to their youngest, Gen Z colleagues.

“The complimentary attributes of youth and experience can deliver significant business value but, at the same time, each generation has differing requirements and expectations. This calls for a flexible approach to benefits strategies that reflects the needs of all employees, maximises inclusivity and engagement, while ensuring the employee population feels valued.

“When designing their benefits programmes, organisations should take the pulse of their workforces to avoid falling foul of misapprehensions based on demographic stereotypes. In some cases, benefits will be equally valued across the generational divide. Pensions, for example, remain the most popular employee benefit, irrespective of age.”

Hot on the heels of the multi-generational workforce challenge, the Benefits Trends Survey found that the perennial challenge of rising benefits costs was a concern for 51% of employers, while 46% cited the challenge of communicating benefits choices.

Elsewhere, the survey found that the talent experience topped the agenda of benefits priorities for the coming three years, with almost three-quarters (72%) of businesses planning to focus on benefits engagement and delivery.

83% said they were looking to enhance the communication of benefits, 70% are set to prioritise online portals and apps, while two-thirds (66%) will implement or enhance employee self-service.

“Strong levels of benefits engagement are intrinsically linked to an organisation’s ability to attract and retain talent,” Ramsook added.

“Furthermore, by raising the talent experience bar employers may see a significant uplift in ROI (return on investment) and VOI (value on investment), vindicating their programme strategy and benefits spend.”

Albert Goodman invest in modern premises in Taunton to enhance the experience of their clients and staff

South West-based chartered accountants, tax consultants and financial planners Albert Goodman has relocated its 150+ Taunton employees to larger premises at Goodwood House on Blackbrook Park Avenue in Taunton to create a better working environment and to allow for ongoing growth and expansion.

Moving from Mary Street House in central Taunton, where Albert Goodman has been for over 30 years, the team are set to enjoy the benefits of being nearer the M5, allowing easier access for their clients and providing better links when travelling to other Albert Goodman offices across the South West.

Goodwood House offers a modern working environment and represents a long-term investment in the future of Albert Goodman as the firm strengthens its strategic position as a top 50 accountancy firm in the UK. The new 17,500 sq. ft. premises will almost double the space that Mary Street House offered and provide the capacity to attract new clients and staff from across the region and beyond.

Richard Bugler, managing partner of Albert Goodman, commented: “Whilst we will take long-standing memories of growing the business from Mary Street House, we have outgrown these premises and needed to find a new home that meets our current and future requirements. Goodwood House, fully refurbished to our requirements, is an environment that suits our modern way of working and will provide a fantastic experience for our clients and staff.

“We’re confident Blackbrook Business Park will serve us well as a location and puts us at the centre of the professional services community in Taunton. We look forward to joining other like-minded firms here and continuing our commitment to a town that is a great place to do business.”

Matt Carey makes a Positive move

Positive Cashflow Finance (“Positive”), the Manchester-based independent invoice finance provider, is delighted to announce the appointment of Matt Carey as business development manager. Matt will be responsible for building and maintaining strong relationships with introducers in the North West, whilst supporting UK SMEs to access funding lines between £10k and £1m for growth.

The appointment comes at an exciting time for Positive who as part of the 1pm Group of companies continue to expand and grow the business. The firm has announced a series of significant appointments this year to strengthen their leadership team with Phil Chesham as head of business and Andy Hume as head of sales. They have also increased their sales presence with Chris Rimmer and Ken Elms coming on board as business development managers throughout the region.

Matt brings to Positive over 13 years’ experience within the invoice finance sector having previously worked at Ultimate Finance. Initially starting his career within operations, Matt managed client relationships before working closely with business owners to offer expertise across a range of financial solutions and present the most viable funding option to support their business plans.

Speaking of his appointment, Matt said: “I am thrilled to join the team at Positive who have an excellent reputation for building strong relationships with clients and introducers alike. Their hands-on approach means they can make swift decisions and support businesses on an ongoing basis.

In what remains uncertain times for many business owners, responding to clients’ needs as they arise and ensuring they have the certainty of support they require when looking to grow their businesses, is crucial. Joining Positive at this time means I can work alongside the 1pm Group to provide SMEs with access to financing the full spectrum of business assets required for growth.”

As part of 1pm plc, the AIM-listed independent provider of finance facilities to the SME sector, Positive also provide access to a multi-product range of business finance solutions to the UK market from asset finance, commercial loans through to vehicle finance. 1pm plc operates a “hybrid” lending and broking model enabling it to optimise business levels through market and economic cycles. With a strong reputation for providing a flexible and fair approach to funding, 1pm plc is seen as a trusted partner for both introducers and clients alike.

Andy Hume, head of sales at Positive, commented: “Our focus remains on investing in our people, who drive our innovation and lay the foundations for future growth and success. We are confident that Matt will be a great addition to the team with his proven track record of building long-lasting relationships with his network of introducers. He brings with him a wealth of experience, which we hope will help drive both growth and awareness across the North West.”

Catalyst Finance expands team with a new hire

Catalyst Business Finance has appointed Lee Ashton as broker development executive to join its growing sales team.

Lee has over 10 years’ experience in the finance industry having previously worked for Aldermore and Nucleus Commercial Finance in business development roles.

She’ll be working with broker development manager Melissa Marriott, to develop new relationships within the intermediary community and expand Catalyst’s exposure across the London and South East region.

Speaking of her appointment Lee commented “I’m absolutely delighted to be joining Catalyst; they are short term lenders who genuinely take the time to understand the wants and needs of the client. They are one of the most approachable and innovative short term funding providers in the market with a reputation for delivering tailored finance solutions. Introducing and developing the brand further in London and the South East region is really exciting and I can’t wait to get started.”

Martine Catton, chief executive officer at Catalyst said: “Lee is a fantastic asset to the business and I’m delighted that she has decided to join the Catalyst family. The London and South East region is hugely important to us. Lee’s experience and knowledge of the intermediary community in that area is invaluable. I’m looking forward to Catalyst playing an important role in helping to support SMEs in the region.”

Begbies Traynor makes senior brokerage appointment with national remit

Senior finance professional Scott Bradley has been appointed by Begbies Traynor to lead its expansion into the commercial finance brokerage market.

Scott was previously regional sales director at commercial finance provider Ultimate Finance in Manchester. He has also held senior posts at Bibby Financial Services and Altus Global Capital LLP.

Scott’s role at Begbies Traynor will be to guide clients across the UK to a range of funding facilities including short-term finance, invoice factoring, alternative finance and other cashflow options provided by brokers and funders.

Gary Lee, partner at Begbies Traynor, said:

“In Scott we have appointed someone who is well connected in the national commercial finance sector. Scott has a first class knowledge of the funding and broker marketplace.

“This senior appointment re-affirms our commitment to clients that we will secure the best deals on finance for them when they are undergoing restructuring, refinancing or other strategic adjustments to their business.”

Scott Bradley, director of brokerage services at Begbies Traynor, added:

“I’m delighted to join Begbies Traynor. There is a huge opportunity for more growth in this area of the Group’s business . I’m excited by the national footprint Begbies Traynor has in the SME marketplace.

“It means that we’ll be able to connect the right funders and brokers with our clients and continue to grow our network of trusted referral sources and professional contacts. I’m looking forward to building on my existing longstanding relationships in the marketplace and generating new ones.”

New appointments to UK Finance Board

UK Finance has today announced the appointments of Susan Allen, head of retail and business banking, Santander UK, and Charlotte Hogg, CEO, Visa Europe, to its Board.

Susan Allen is responsible for the bank’s retail and business banking operations spanning 15 million customers and a nationwide network of branches and customer contact centres. She was previously the bank’s head of customer interactions within its retail division. Prior to joining Santander in 2015 as chief transformation officer, Susan worked for RBS for over 25 years in a variety of roles including CEO, customer solutions group, commercial and private banking, supporting a wide range of businesses from SMEs to major international corporates.

Charlotte Hogg is executive vice president and chief executive officer for Visa’s European operations. She brings more than 25 years’ experience in financial services, bank operations and management consulting to Visa. Most recently, Ms. Hogg served as chief operating officer for the Bank of England, from 2013 to 2017. Prior to that role, she led retail distribution for Santander in the UK and previously worked at Experian as the managing director of UK and Irish operations. Previously, Ms. Hogg was at Discover Financial Services, as CEO of Goldfish Bank. Earlier in her career, Ms. Hogg was a managing director for strategy and planning at Morgan Stanley, and a management consultant at McKinsey & Company, based in the U.S.

In line with the expiration of their terms agreed with UK Finance Board the following have stepped down:

James Bardrick, UK CEO, Citigroup;
Ron Kalifa, deputy chairman and executive director, Worldpay;
Mark Sismey-Durrant, former CEO of Hampshire Trust Bank; and
Ashok Vaswani, CEO, Barclays UK.

UK Finance acts to enhance competitiveness, support customers and facilitate innovation across the banking and finance industry. It offers research, policy expertise and advocacy as well as operational and project activity to enhance members’ own services where collective activity across the industry is appropriate. The Board, which is led by UK Finance chair Bob Wigley, has been developed to ensure senior and fair representation across the industry.

Commenting on the changes to the UK Finance Board, Bob Wigley said:

“The UK Finance Board comprises senior leaders from across our broad membership, bringing together diverse and wide-ranging expertise from across the banking, finance and payments landscape. Susan’s expertise in commercial and retail banking, alongside Charlotte’s broad-ranging experience in both public and private sectors, will contribute significantly to the UK Finance Board, further diversifying its wealth of experience and knowledge.

“The Board would also like to express its gratitude to James Bardrick, Ron Kalifa, Mark Sismey-Durrant and Ashok Vaswani, who have all made a significant contribution in the development and success of UK Finance over the last two years.”

ThinCats announces the appointment of Amany Attia as CEO to lead its expansion

ThinCats, a leading provider of funding to mid-sized SMEs, today announces the appointment of Amany Attia as chief executive to lead its ambitious growth plans. Amany is a proven leader in building and scaling businesses with significant expertise in lending, data and technology.

Amany joins a company which over the last four years has achieved year-on-year new lending growth in excess of 100%. ThinCats’ success is anchored by its strong UK wide regional presence, supported by a customer-based culture and a unique data analytics model. ThinCats plans to develop an even deeper market presence through the launch of innovative products, the deployment of market leading customer centric technology and continuing to use data to add value to intermediaries and borrowers. ThinCats also intends to attract further lending capital through its continued robust underwriting and risk management.

Quentin Baer, co-chairman of ThinCats: “On behalf of all at ThinCats, we would like to thank John for his enormous contribution to the business. Under his leadership, ThinCats has transformed itself from a start up to an established competitor in the SME secured lending sector with institutional funding and strong origination and proprietary data analytics capabilities. We wish him well for his future endeavours. We have a great opportunity to capitalise on ThinCats’ impressive growth to date to create a bigger platform to compete with the mainstream banks, providing a superior service and loan product to UK SMEs. We are delighted that Amany, with her experience of scaling businesses and leveraging analytics and technology to improve the customer experience, is joining us to lead this next phase of growth.”

Amany Attia, chief executive of ThinCats: “I am delighted to be joining ThinCats at such an exciting time in its development. The business is already firmly established as a leading provider of SME business loans and we have a real opportunity to continue to grow the business to capture more of the market which is underserved by traditional banks.”

John Mould, departing chief executive: “I am very proud to have led ThinCats over the last four years and taken it from a small P2P SME lender to a fast-growing national SME lender whose name now is known across the UK. I leave a great team behind me and I wish Amany every success in the future as the company continues to grow.”

Most recently, Amany Attia ran The Northview Group, a UK mortgage lender and servicer with more than £10bn in balance sheet and serviced assets. Through a combination of acquisitions, the leveraging of unique data sets and sophisticated analytics, Amany drove significant customer growth and satisfaction. Amany has a wealth of experience in building businesses and developing lending and servicing businesses in the financial sector.