Lovewell’s logic: Is the industry in a state of flux?

Debbie Lovewell-Tuck

This week saw the Employee Benefits team head to Olympia for this year’s Employee Benefits Live.

One of the (many) things I personally enjoy most about the event is the opportunity to meet and catch up with so many people from all corners of the industry. While we always strive to ensure we have our fingers on the pulse, it is during events such as this that we are often able to get a real sense of the issues impacting the industry and its current state of affairs.

This year, whether speaking to employers, benefits suppliers or advisers, I was left with the overwhelming sense that the industry currently has a very different feel to it from a year ago.

In many cases, this was attributed to the volume and pace of change that we are continuing to see impact both the business world, and reward and benefits, as well as ongoing uncertainty about future changes currently on the horizon.

In turn, this appears to be changing how many organisations are approaching their reward and benefits strategies, either when it comes to how they source benefits and/or their strategy and proposition for employees.

Given the amount of change that is still to come, for example as we wait to see the full impact of Brexit and the outcome of government consultations, such as that concerning salary sacrifice arrangements, I have the feeling we are still at the start of this latest change journey.

It will be interesting to see what the next 12 months brings.

Debbie Lovewell-Tuck
Tweet: @DebbieLovewell