Fitch launches financial education

EXCLUSIVE: Fitch has launched a personalised financial education programme for its UK employees. 


The retail and brand consultancy, which is part of the WPP Group, will add the programme to its reward package.

Fitch is using Nudge Global’s Quantum technology, which uses HR and benefits data to profile employees and pre-empt their financial needs as employees’ circumstances and legislation change.

The financial education programme will provide employees with personalised and predictive education about their finances via home and work smartphones.

It also aims to use the programme to create a good return on investment (ROI), help reduce premiums on healthcare, disability and employer’s liability insurance, lower employee stress levels and increase engagement and understanding of benefits.

Based on employee engagement with the launch, Nudge Global predicts the firm will exceed its expectations on ROI for the programme.

Lesley Brady, global HR director at Fitch, said: “In 20 years of working in HR, I have been particularly impressed with employee financial education because it truly is a no brainer, something I rarely see in the reward and benefits space.

“Not only is it the right thing to do for employees, but there are also several wins for the sponsoring [organisation] too.

“Be it reducing insurance premiums and employee stress or increasing engagement and understanding of benefits, the consensus view is there is a 6:1 ROI [from financial education].

“This makes it easy to get stakeholder buy-in, even in a climate where doing nothing is often the preferred approach.”