All Financial wellbeing articles – Page 140
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Article
HBOS quits worksite marketing
The worksite marketing arm of HBOS, which includes its financial education and voluntary benefits offerings, has ceased to operate.The provider has made a commitment to its existing clients and will honour voluntary benefits contracts until the end of 2007.It will also fulfil its†financial education contracts up until July this year.The ...
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Article
Government to offer pre-retirement planning
The government plans to offer free generic financial advice helping workers with pre-retirement planning and the decision on whether or not to opt out of personal accounts.It is envisaged that the information will be provided via a national helpline and website and possibly a network of advice centres linked to ...
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Article
Brinc hunts new partner after HBOS exits voluntary benefits
Brinc is on the hunt for a new partner following HBOS's decision to close its worksite marketing arm which offers employers voluntary benefits schemes and financial education.The organisation has been providing online portals for bespoke voluntary benefits schemes to clients of HBOS's worksite marketing division and is now looking for ...
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Analysis
Measuring employee empowerment can be tricky
Measuring employee empowerment can be a tricky business, but employers that successfully achieve this may have happier staff, lower rates of absence and increased productivity levels, says Nick GoldingArticle in fullEmployee empowerment is created by a loosening of the reins by employers and the passing of trust onto employees. In ...
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Article
Financial education - definitions
Financial education is becoming increasingly important in helping staff to both select and better understand the value of the benefits they are given. Providing financial education for staff around personal financial issues can also help to reduce problems such as stress.Common terms related to financial education in the workplaceBenefits modellersFinancial ...
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Case Studies
Capgemini offers financial education to employees
IT consultancy Capgemini decided to offer a financial education package to employees after its HR department received numerous requests for help with financial queries, especially about mortgages.Many of the firm's 6,500 employees are based at client sites spread throughout the UK. In order to fit in with their working patterns, ...
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Article
BSkyB helps staff manage their cash
BSkyB is piloting a financial education programme designed to help improve financial literacy levels. The scheme from the Financial Services Authority (FSA) will be tested on the 70 members of BSkyB's employee forum to decide whether it is appropriate for the wider workforce. If successful, it will be rolled out ...
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Analysis
Mortgages as a benefit
Giving staff access to mortgage advice can provide employers with a high-impact low-cost perk, says Laverne Hadaway.Buying a house is probably the biggest purchase decision most people will ever make during their lives. Finding the right mortgage deal, let alone choosing a property and moving can be a worrying and ...
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Article
Orange gives staff money help
Orange is embarking on an online financial education programme to help staff better understand the value of their benefits.The first web-based module to be launched will be on the firm's share incentive plan that is available to all staff.Although all details of the share scheme are already available online, Orange ...
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Case Studies
United Utilities helps staff make most of finances
Case study: United UtilitiesOffering employees financial advice and education may not be a common benefit in the utilities sector but at United Utilities, it's seen as part of the company's responsibilites.Julie McGowan, secretariat administrator, explains: "It does surprise our employees but we believe we should offer them [education] to help ...
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Case Studies
Capita Group offers financial education on share schemes
Case study: Capita GroupProfessional services and outsourcing company Capita Group has offered a sharesave scheme since 2000 and a share incentive plan since 2002. It uses a range of methods to educate its employees about its share schemes, including mailing booklets to their home addresses, hosting presentations and putting information ...
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Case Studies
Majority of Procter & Gamble staff take advantage of share scheme
Case study: Procter & GambleProcter & Gamble employees were first encouraged to buy company shares in the US during the mid nineteenth century.The share habit quickly spread across the Atlantic and today the vast majority of P&G's 4,500 UK staff take advantage of a scheme under which they can spend ...
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Article
Alexander Forbes Financial Services offers staff mortgage advice
Alexander Forbes Financial Services (AFFS) has rolled out a free mortgage broking service for its 400 staff.The benefit, which was launched last month, provides access to free onsite mortgage advice and broking services from Charles Cameron Associates.It is funded by commission paid by mortgage lenders. David Marlow, marketing director, said: ...
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Article
Henkel runs seminars on age discrimination
Henkel, the household goods, cosmetics and toiletries company, is running seminars for 320 managers and supervisors on the incoming age discrimination legislation. The interactive sessions also cover other changes to employment law including the Information and Consultation Directive, the Working Time Directive, and the Work and Families Bill. Attendees receive ...
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Article
Cushman & Wakefield offers advice sessions
Cushman & Wakefield has introduced free financial advice sessions to help new staff better understand the company's defined contribution pension scheme.The amount the company contributes to the plan depends on employees' seniority, while staff can contribute as much as they wish.The sessions, provided by IFA firm Clarity, are also intended ...
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Analysis
Worksite financial marketing
Many employers now allow financial firms to promote their products through the workplace, but does this really net the best deals for staff, asks Kirstie RedfordCase studies: Shoosmiths, Hammonds DirectArticle in fullNot every organisation can afford to provide a five-star suite of employer-paid benefits. However, simple economies of scale mean ...
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Analysis
Take a holistic approach to financial education
Simple measures like tailoring financial education or advice to financial trigger points can heighten employees' awareness of their situation, and employers have every hope of gaining long-term buy-in to the perk, says Sam BarrettCase study: United UtilitiesArticle in fullWith financial products becoming increasingly important, but ever more complex, offering staff ...
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Article
William Hill provides L-tip advice
William Hill provided financial advice sessions for employees with options in its long-term incentive plan (L-tip) which matured last month.The scheme, which was introduced in 2003 after the company floated, was open to around 90 staff, mainly at executive level. They were all eligible to attend the group seminar sessions ...
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Article
Consultation on employer-provided financial advice
A consultation launched alongside the Budget is proposing more freedom for employers to advise staff on work-related financial services.Employers are currently exempt from financial promotions legislation, with regard to advising on pension schemes.The consultation document proposes extending this exemption to include pensions advice from third-party administrators of stakeholder and group ...
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Analysis
Employee Benefits Financial Education supplement 2006: Interview
Jenny Keefe talks to Jim Dredge, programme director for the workplace arm of the Financial Services Authority's Financial Capability SchemeArticle in fullLet's be frank: most people find personal finance about as stimulating as a week in solitary confinement. Yet Jim Dredge, programme director for the workplace arm of the Financial ...