YBS Share Plans, part of the UK’s second-largest building society, has teamed up with Secondsight and WEALTH at work to offer its corporate clients access to financial education in the workplace.
Secondsight, the multi-award winning employee benefits specialist, has created the share plan online portal to educate employees on the advantages of the share plan offered to them.
Powered by its employee engagement tool, Mybenefitsatwork, it enables employees to learn about their company’s share plan at any point from being invited to join through to maturity. The portal showcases the benefits of their share plan using short and engaging animations and case studies. This could be complemented with bespoke educational seminars and webinars focused on share save.
WEALTH at work is a leading provider of financial education in the workplace, supported by guidance and advice. It provides a service that helps employees to understand how to maximise the value of their benefits by delivering financial education tailored to the needs of individual companies and of different employee groups within those companies. For example, this can include bespoke educational seminars and webinars focused on share save. This can then be supported by online guidance and an advice service which allows, for example, the linking of company share plans to pensions and ISAs.
Both propositions have been specifically developed to help YBS Share Plans clients communicate and engage their employees with their share plan options as well as promoting financial wellbeing.
Ashley Price, head of YBS Share Plans, said: “We’re delighted to be working alongside Secondsight and WEALTH at work to offer advice and support to our clients’ employees. They will have access to the information and tools they need to help them fully understand the share plans being offered to them and to assist them in making choices at maturity.
“We know that debt and money worries can take their toll on employees’ mental health. High-quality employee wellbeing provision that covers mental and financial health – as well as physical wellbeing – is an area of increasing importance to HR and employee benefits professionals.”
Ian Bird, director of business development at Secondsight, said: "We’re delighted to be working alongside YBS Share Plans on this offering. YBS Share Plans has taken a very proactive stance when it comes to supporting its corporate clients, both in helping their employees understand their share plan, and also in relation to workplace financial education."
Jonathan Watts-Lay, director, WEALTH at work, said: “It’s great news that we are now working with YBS Share Plans to help their clients’ employees make the right choices. We have vast experience in working with many employers to support them with share plan launches, as well as helping employees to manage their maturing share plan. This can include guiding employees on how they can hold shares in a manner which is not only tax efficient but also limits risk. We also cover the linking of company share plans to pensions and ISAs.”
