Lady Barbara Judge joins hibob to make HR & Benefits work for SMEs
Last week Lady Barbara Judge joined hibob (that’s us – letting small businesses more easily manage staffing, human resources and employee benefits). It’s needless to say that we’re really happy to have her onboard.
HR needs to be disrupted – and we’re ready to do it!
Lady Barbara Judge has been named as our new chairman. She is one of the most well-known women in British business and the outgoing head of the UK Pensions Protection Fund (PPF). We’re very fortunate that she’s joined us to help disrupt HR and employee benefits.
This is what she had to say:
“I was delighted to meet the founders of hibob as my tenure at the Pension Protection Fund was coming to a close. We quickly realised we shared the same passion for helping small businesses in general, but also more specifically to help them deliver Auto Enrolment in a way that is efficient and engaging. Something that businesses and particularly young people are struggling with”, Lady Barbara Judge told City.Am.
Lady Judge has a pretty awesome CV. She was previously an executive director at News International, and was the first woman on the board of overseers of the Wharton School of Management (as well as being the ex-chair of the Pension Protection Fund and current chair of the Institute of Directors). We couldn’t have found anyone better to chair our board.
“She has the perfect blend of top down policy thinking on pensions”
“Lady Barbara’s track-record in supporting British small business and the pension industry is second to none,” said hibob co-founder and chief executive Ronni Zehavi. “She has the perfect blend of top down policy thinking on pensions but also a critical bottom up understanding of British business. She will be a huge asset to us as we grow our pension and benefit offering”.
What is her role with hibob?
At hibob we create an online destination for employment data that can tell businesses about their staff and suggest which perks a company should offer.
A huge part of that is offering pensions – especially with auto-enrolment well underway for UK SMEs.
With her experience of safeguarding employee pensions, Lady Judge is perfectly positioned to provide a strategic overview and help us create the ideal way for employers and employees to manage the process of auto-enrolment – and the ongoing administration that goes with it.
What is the problem with Auto-Enrolment and what does this mean for SMEs? And me?
Lady Judge has previously called for the removal of the choice for employees to opt-out of pensions auto-enrolment (AE). But what is it?
Automatic Enrolment is a Government initiative to help more people save for later life through a pension scheme at work. You may have noticed the workplace pensions adverts on TV and in the press, featuring the big friendly monster – that’s exactly what we’re talking about.
We all know that most people are not saving enough for retirement and, as a result may not be able to afford to live comfortably in their retirement on just the State Pension. You might even be one of those people!
As we’re all living longer, there is also a growing pressure on the State benefits system, so having a private pension in place is becoming ever more important.
To encourage workers to start building up retirement benefits, the Government introduced pension reforms through the Pensions Act 2008 that requires all employers to offer workplace pension schemes and to enrol eligible workers into their schemes. These reforms have become known as automatic enrolment, auto-enrolment or AE.
“Auto-enrolment really takes a lot of work, particularly for SMEs, who’ve found it extremely difficult to set up the schemes, and to do all the paperwork and administration,” Lady Barbara Judge says in an interview with New Statesman.
“Pensions Regulator Needs Greater Powers”
Lady Barbara Judge also stated in a BBC Channel5 podcast: “My proposal is that the Pensions Regulator or some other agency be set up, like the Competition and Markets Authority, [so] that every time a corporate transaction of a certain size takes place with a pension fund of a certain size… a filing would be made by the parties it interested”.
“They would say this is the deal… and this is what we are going to do for our pensioners. Under my scenario we would have a pensions regulator that looked at every pension fund in the country and then had an obligation to talk to those pension funds about what they were doing“.
So why did Lady Barbara Judge join hibob?
There are a few reasons, and one of the sweetest is that “It will keep me young” as she stated last Tuesday in an exclusive Times article.
Welcome, Lady B. We’re glad to have you with us!
want to know more?
Attend our live 30 min webinar to see how beautifully hibob can reduce your HR hassles!
This online session will get you up and running with bob fast and fuss-free.
We’ll be looking at the features of bob, how you can customise bob to suit your company, and the ready made reports and processes that we’ve created to save you time.