November is upon us, so now is the time to start thinking about Christmas 2016! Yes, really!
What’s the issue? Many individuals leave it too late to plan for Christmas and buy lots of gifts on credit – this often results in a big bill in January – we’re sure this year will be no exception! So what does this have to do with your employees? Well StepChange Debt Charity found that 7.4 million people have trouble sleeping because of money worries. Your employees might have debt problems or other money issues they are concerned about, and worrying about them affects their performance at work. If you can alleviate some of the anxiety, then you can help your employees get in control of their finances, feel happier and more engaged and therefore more productive at work – which is good news for you.
What can you do? So how can you help your employees to be better prepared for Christmas? With a Christmas savings club. Savings clubs enable employees to pay a regular amount of their salary into a secure savings account, to build up a pot for Christmas. Employees can pay as much as they want (usually more than £5) and they cannot access their savings until they are paid out on a set date (usually with October’s pay packet). This means they won’t be tempted to dip into their savings for unnecessary spending, and when it comes to Christmas, they have built up enough cash to buy presents, decorations, food and all the trimmings!
Starting a Christmas savings club is simple: it’s easy to set up and maintain and without additional cost to your business, you can help your employees prepare for this big expenditure. This is a great benefit for your employees that they will really appreciate:
“I join the savings club every year so that I don’t have to think about saving for the kids’ Christmas presents. I don’t even miss the £50 every month and it’s nice to get a big pay packet in October!” – Savings Club Member For more information, ask your usual Jelf consultant about Holiday Savings Clubs or visit our website.
For the full original article and other similar posts please visit the Jelf Group blog http://www.jelfgroup.com/blog/.