Finance Shop : Business Services RSS Feed

Firms 'turning blind eye to sickness'

Thu, 7 Jun 2007 15:44:43 GMT

Many finance companies are not putting in place procedures to cut down on staff sickness, it has been reported.

According to healthplan provider HSA, nearly 50 per cent of firms in the industry have not taken measures to put in place a strategy in order to reduce employee absence.

It added that this comes as close to half of all sector workers have more than five days off work sick each, with 61 per cent of companies failing to acknowledge them - and the cost of the missing days - on the books.

"Those companies that do not have a strategy in place to reduce sickness are missing a trick. Sickness absence costs businesses huge sums of money each year in the form of lost productivity," said Amanda Wilkinson, editor of employee benefits for HSA.

It may be that sporting events like the World Cup, as well as popular movie releases, caused many unnecessary sick days in 2006.

Consumers 'may not know' their mobile plan

Wed, 28 Feb 2007 12:09:12 GMT

Many UK mobile phone customers are unaware which tariff they are on or how much they are actually spending on their service, according to a consumer switching company.

Of the 1,000-plus people questioned by SimplySwitch.com, 36 per cent admitted they were unaware of the details of their call plan and 61 per cent do not know how much they will be billed for calls outside it.

Similarly, around a third do not take a close look at their phone statement, while 83 per cent think the amounts charged to them are always accurate, it added.

"It seems like common sense to find out how much youre paying and whats included in your call plan. Someone on an unsuitable tariff could save a small fortune by switching to a better deal," said Karen Darby, spokesperson for the organisation.

Apacs this week reported that 166 bills were received on average by UK households in 2005, an increase of seven from 2000.

23m 'switch to cut costs'

Thu, 25 Jan 2007 15:24:56 GMT

Britons are choosing to leave product providers if a better deal comes along, MoneyExpert says.

Some 212,000 contracts with providers were dropped per day in areas such as telecoms, mobile phones and internet over the second half of 2006, contributing to a total of 39.075 million, the group reveals.

This means that 23 million customers are taking an active stance to find a better deal, claims the company.

The figures equate to one in seven households swapping brands during the period, with the most popular areas being gas, electricity and internet deals, according to the body.

Activity like this marks a victory for the consumer, says MoneyExpert chief executive, Sean Gardner.

"No provider is safe from the axe if they don't have a competitive product or good customer service. Customers aren't shirking from moving on if they're not happy," he said.

Last year, money charity Credit Action suggested the average household debt stood at £8,765 excluding mortgages.

Homeowners out of pocket £160 on fuel bills, says Which?

Wed, 15 Feb 2006 17:28:24 GMT

As homeowners face another threatened rise in gas and electricity rates, Which? has said that "rookie" switchers, who are not normally mercenary in searching for deals, stand to gain the most by changing provider.

Research by consumer group Which? has revealed that only a quarter of households in the UK are "savvy" switchers, ie, those who scour the market for the best rates.

Energywatch chief executive Allan Usher has warned that gas and electricity bills will rise by a further 15 per cent this year - giving the rookies good incentive to look around.

Which? estimates that following the most recent round of price increases, the average home could save £160 on their annual gas and electricity bills.

"It seems we're a nation divided into 'savvy' and 'rookie' switchers," said Jennifer Conti of Which?.

"Despite gloomy predictions, people who regularly check out the competition are saving themselves a packet and rookie switchers are even more likely to scoop big savings, simply because they may have been getting a raw deal for a relatively long time without realising it.

"Switching is one of the quickest and easiest ways to save money."

Quarter of a million households face 'fuel poverty'

Mon, 30 Jan 2006 17:13:16 GMT

Over 250,000 UK households are facing a stark future of "fuel poverty" if, as expected, gas and electricity bills continue to rise.

Energywatch chief executive Alan Asher is predicting a 15 per cent increase in gas and electricity bills this year, threatening thousands with the prospect of not being able to afford their fuel bills.

The Department of Trade and Industry estimates that for every one per cent hike in gas and electricity bills 40,000 households are condemned to fuel poverty.

"It is a worrying time for vulnerable customers, with record price hikes expected to be announced and a colder than average winter forecast," said utility analyst Ann Robinson.

"We are increasingly aware that more vulnerable customers are at grave risk of falling into fuel poverty. The elderly and people in the lower income brackets are least likely to have switched energy supplier since privatisation."

Fuel poverty is defined as when a household is forced to spend more than ten per cent of total income to heat their home to an adequate standard (21 degrees centigrade in the living room and 18 degrees centigrade in other rooms).

UK warned against freezing gas and electricity bills

Thu, 12 Jan 2006 17:17:35 GMT

As the prices of gas and electricity have risen over recent months, so more utility operators have begun offering long-term fixed rate deals.

With the continued shocks to international energy prices, and with doom-laden commentators predicting energy insecurity, capping your gas and electricity rates may seem like good insurance against future shocks.

But price comparison websites have pointed out that as gas and electricity prices have risen between ten and 15 per cent in recent months, now may not be the best time to sign up.

As well as paying a premium to keep prices capped, prices fixed now will stay at a peak if, as predicted, wholesale energy prices and the knock-on retail value of gas and electricity falls.

"This may well be one of the highest points in the commodity cycle, with an improving UK gas import position from 2007 onwards putting downward pressure on future market prices," said senior utilities analyst David Scott.

"ScottishPower's 2004 offer would have saved the customer money against the average tariff, yet in its second incarnation, after it was extended in 2005, would have proved to have been more expensive," he added.

"Although further increases in wholesale prices are still possible and suppliers have warned customers that wholesale prices might go up or down, the industry may well be bottling-up a problem if current fixed price offers do badly."