Analysis – Page 7
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AnalysisInfographic: What percentage of global employees often worry about debt?
An infographic looking at the percentage of employees that often worry about how much debt they have (Source: Willis Towers Watson's Global benefits attitudes survey 2015/16, published in February 2016).Read more in How to align financial, physical and emotional wellbeing.
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AnalysisHow to align financial, physical and emotional wellbeing
Need to know:Financial worries can affect sleep, increasing the risk of mental and physical health problems, pushing up absence and potentially causing safety issues.Segmenting a workforce can make financial education more targeted and effective.Employers should not overlook simple changes, such as making it easier to claim expenses or promoting the ...
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AnalysisWhat is the lie of the land for workplace pension schemes?
In May, the Pensions Policy Institute (PPI) published its report Value for money in defined contribution (DC) workplace pensions. This considered the definition of value for money in this context, as well as how both members and employers can gain value from their schemes.An increased focus on gaining value from ...
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AnalysisInfographic: The worries facing UK employees
An infographic looking at the worries facing UK employees (Source: Mercer research, published in November 2015).Read more in How to engage staff with financial wellbeing.
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AnalysisHow to engage staff with financial wellbeing
Need to know:Employers are increasingly keen to offer holistic financial education, including around employees’ personal finances.New providers are offering ways employers can offer help with an employee’s personal finances while staying at arm’s length.Like financial education around pensions and benefits, education around personal financial wellbeing can benefit from audience segmentation ...
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AnalysisInfographic: The content employers would like to include in financial education programmes
An infographic looking at the content employers would like to include in financial education programmes (Source: Nudge Global's Financial education: the definitive guide 2016 research, published in March 2016).Read more in What do employers need to know about financial education?
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AnalysisWhat do employers need to know about financial education?
Need to know:More employers are recognising the importance of supporting employees’ financial wellbeing in the workplace with education programmes.Financial education programmes should cover a broad range of financial topics.Determining the issues that are important among staff can be a sensitive task, so it can be more effective to let employees ...
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AnalysisHow can behavioural science engage employees with workplace savings?
Need to know:Small changes can make a big difference when it comes to engaging employees with workplace savings schemes.Behavioural science is all about working with people’s natural habits, instead of against them.Left alone, savers can struggle to imagine their future selves. There are many smart ways to help them overcome ...
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AnalysisThe pros and cons of using in-house and external financial education expertise
Need to know:A good financial education scheme should help an organisation achieve its wider business objectives, increase engagement, improve financial wellbeing and improve the employee’s understanding of their benefits and their own personal finances.Employers can look to both in-house resources or external parties to provide financial education programmes.A financial education ...
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AnalysisInfographic: The key benefits of financial education
An infographic outlining employers' views about the benefits of offering financial education to staff. (Source: The Employee Benefits/Close Brothers pensions research, November 2015)Read more about the key areas of focus for financial education.
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AnalysisWhat are the key areas of focus for financial education?
Need to know:Demand for financial education is growing, with the changing pensions landscape a key driver.Investing in this area can help employees to engage with flexible benefits packages and potentially reduce anxiety and stress around money.Training is most effective when it is personalised and tailored to the specific employee demographic, ...
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AnalysisHow could gamification be used to support a financial education strategy?
Need to know:Gamification provides an additional channel through which staff can learn about financial matters.Introducing gamification into a financial education programme could help to increase employee engagement with financial wellness, particularly among younger staff.Embracing digital game elements that can be accessed on a number of devices can tap into the ...
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AnalysisInfographic: The reach of gaming across age groups
An infographic outlining gaming habits across age groups (Source: ISFE/Ipsos Connect’s GameTrack Digest: Quarter 2 2015, published in September 2015).Read more about how employers can use gamification to support a financial education strategy.
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AnalysisHow integrated to the workplace should an employee’s finances be?
If you read nothing else, read this…Workplace savings platforms allow employees to bring together their financial products to give them an overview and insight into their wealth.While some platforms offer access to a range of savings and investment products, others allow employees to pull together different products, including current accounts, ...
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Analysis
33: LV= industry insight - Good retirement advice is key to good retirement outcomes
The radical changes to pensions mean that employees now have much greater flexibility and choice over how to access their pensions than ever before. The ability to take as much as you like from your pension when you like, combined with the tax changes to allow wealth transfer, offers the ...
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AnalysisHow can employers support staff in tackling big societal issues?
If you read nothing else, read this…Broader societal trends are impacting employees and concerning employers.The cost of living is a particular issue, with 51% of staff concerned about their finances.Employers are increasingly helping employees save money for deposits on houses, and even to get access to mortgages.Some organisations are now ...
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AnalysisTop tips for increasing employees’ pension contributions
If you read nothing else, read this …Many employees are not paying enough into pensions.Financial education, employer matching and tax relief can encourage staff to increase pension contributions.Auto-enrolment and the pension freedoms have helped to highlight the importance of good contributions.Employees contribute an average of 5% of their earnings towards ...
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AnalysisFinancial education plays important role in employee engagement
A financial education programme can be key to engaging employees; according to the Secondsight Whitepaper, published in October 2014, 73% of employees felt more positive about their employer when they received the benefit.A growing number of organisations are engaging with their staff by providing a workplace financial education programme. But ...
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AnalysisTop tips for engaging staff with financial education tools
If you read nothing else, read this…To engage staff with financial education tools, employers should highlight the importance of financial planning.Financial education can help predict an employee’s future financial needs.Financial education can improve employee wellbeing.However, 52% of employers do not provide financial education, according to a study of 1,013 workers ...
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AnalysisHow to manage employee-benefits-related risk
If you read nothing else, read this…Employee benefits, such as preventative healthcare programmes, can help to mitigate organisational risks such as sickness absence and workplace stress. But benefits can bring their own risks to an organisation around cost, health and safety and regulation.Employers must be aware of all the risks ...