All Financial wellbeing articles – Page 109
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Article39% say financial struggles affect their performance at work
More than a third (39%) of respondents say their financial struggles prevent them from performing at their best at work, according to research by Willis Towers Watson.Its 2015 global benefits attitudes study, which surveyed 29,629 employees in 19 countries, including 1,895 in the UK, also found that almost three-quarters (71%) ...
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ArticleFinancial education in numbers
A round-up of the key facts and figures relating to financial education in the workplace. 27% of employers provide staff with access to one-to-one financial advice (Source: Employee Benefits/Close Brothers) 58% of employees would value an employer that helped with providing financial and retirement planning advice (Source: Mercer) 14% of ...
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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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OpinionMark Fenton-O’Creevy: Is there a case for workplace financial education?
In difficult financial times any employer will think twice before incurring additional costs, and training budgets are notorious for being trimmed in hard times. So why would an employer seek to invest precious training resources in a topic without apparent direct relevance to performance?Many employers do not. Consumer market research ...
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Supplier article
Secure in the knowledge
Many employees struggle to understand various financial issues that may relate to them and often fail to understand the many benefits on offer in the workplace. I believe employers can help to improve an employees’ financial wellbeing by providing them with the knowledge needed to make informed financial decisions, so ...
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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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Case StudiesUniversity of Lincoln offers tailored financial education to staff
The combination of pensions freedoms, reforms to the Universities’ Superannuation Scheme (USS) and The Teachers’ Pension, relatively low pay awards in recent years and the fact more academic staff now work on a sessional or contract basis means there is a huge education piece to be had around finance and ...
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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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Supplier article
Blue Monday: the gloomiest day of the year
We are well into the New Year now and you and your employees may have been feeling enthused and confident about the year ahead. However, on Monday 18 January you may have been feeling a little low, because that day is known as Blue Monday: the gloomiest day of the ...
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OpinionDr Penny Simpson: Consider key elements for effective gamification design
Gamification is ‘the use of game design elements in non-game contexts’ (From game design elements to gamefulness: defining gamification, Deterding et al., 2011). By drawing upon game design elements, mechanics and techniques, organisations hope to engender, in work, the type of experience that we find motivating, engaging and fun when ...
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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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Opinion
3 Sponsor's comment - Switch on to financial wellbeing
Many employees struggle to understand various financial issues that may relate to them and often fail to understand the many benefits on offer in the workplace. I believe employers can help to improve an employee’s financial wellbeing by providing them with the knowledge needed to make informed financial decisions, so ...
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Article
13, Close Brothers industry insight: The importance of selecting the best-fit financial education
Summary box:Initiatives including auto-enrolment, changes to the state pension and the most recent pension freedoms have driven an increase in demand for financial education.But not all financial education solutions are equal and some may not engage with all staff within an organisation and so may not drive the best return ...
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Article81% want employers to help with financial education
More than eight in ten (81%) respondents would like personal finance help from their employer, according to research by the Open University Business School (OUBS) and Share Radio.The survey of 3,040 employees also found that 64% of respondents have never received financial education.The research also found:A third (33%) of respondents ...
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Article11% believe staff save enough for retirement
Just over one in 10 (11%) respondents believe their employees are saving enough for retirement, according to research by Wealth at Work.Its study, which surveyed 94 employers, also found that 40% of respondents do not offer their workforce financial education around the options available to them under the pension freedoms, ...
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Article66% expect to work past 65
Two-thirds (66%) of employees expect to have to work over the age of 65, according to a study by Portus Consulting.Its research, which is based on 1,080 responses from employees and 43 from recruitment consultants, also found that just over one in ten (11%) of employee respondents anticipate they will ...
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ArticleEXCLUSIVE RESEARCH: 26% do not provide any pensions support to staff
Just over a quarter (26%) of respondents do not provide employees with any information, advice or guidance about pensions, according to research by The National Skills Academy for Financial Services (NSAFS) in partnership with Axa Investment Managers (Axa IM).However, the survey of 100 employers also found that 73% of respondents ...
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Supplier article
Autumn Statement 2015: what you need to know
The Autumn Statement was a late addition to the main announcement scheduled for 25 November; the outcome of the latest five year spending review covering £4,000bn of government expenditure. Although the planned reforms received little attention when announced back in July, they represented just over half of the £9.075bn additional ...
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Supplier article
Help your employees get happy
Insurer SunLife’s Cash Happy report, a study focusing on the UK’s spending and saving habits, has found that budgeting really can make you happier!What’s the issue?Apparently, Britons check their bank balance very regularly – 23% do it every day; but is that because we’re good at budgeting or because we’re ...