Jelf Employee Benefits has launched two e-learning courses to help employees get in control of their finances, plan effectively for the future and prepare for retirement:
- Early Life Financial Education
- Later Life Retirement Planning
Benefits for employers and employees
It is now widely accepted that providing this kind of support for employees is the right thing to do, and that there are direct benefits for employers.
Helping employees to plan effectively for their retirement assists them in reaching retirement with both lifestyle plans and adequate finances to support those plans. The online course addresses the needs of employees whether they are many years from retirement or for whom it is imminent. In doing this, HR and pensions goals are satisfied in providing a valuable employee benefit, and at the same time supporting Pensions and Pension Trustees’ responsibilities by providing information to employees in a world of Pension Freedom.
Furthermore, financial education early on in an employee’s career helps to reduce stress and improve employee wellbeing, which will reduce absence in the short and long term. This saves on costs for employers, and employees who are less stressed will be happier in the workplace. This in turn means they will be more engaged with an employer who supports them with their life outside of work and their life beyond work.
The online courses
The retirement planning course enables employees to consider how their life and lifestyle will change in retirement and then whether they have adequate finances to support those plans. It provides alternative paths and optional levels of detail, it also addresses the needs of those needing to make decisions, whether they are within a few years of retirement or are still 10-15 years away.
The early career financial education helps employees understand the benefits of having a financial plan for the short, medium and long term, and assists them in understanding the essentials of finance, including budgeting, avoiding or getting out of debt, saving, mortgages, insurance, pensions and other key financial information.
The courses use e-learning technology to provide an interactive and enjoyable experience and use different communication approaches tailored for the different employee demographics.
The courses can be used standalone, or in conjunction with real world courses, and can be made available either via the new Jelf/LaterLife website www.planonline.co.uk, or since the courses are SCORM compliant, can be hosted within an organisation’s own learning management system.
Packages are available for large and small organisations, and options are also available for creation of bespoke courses, such as to include details of an organisation’s own pension scheme or company benefits.
Lee Coles, head of retirement services for Jelf Employee Benefits said: “There is a growing body of evidence demonstrating the link between physical and financial wellbeing. Online training will play a crucial role in the future delivery of workplace education, as employers continually strive to improve the wellbeing, engagement level and productivity of workforces. We have built a cost-effective solution allowing more employers to offer more employees help and support. It also allows employees to access support wherever and whenever they are in the mood to plan their future.
“Regardless of age, employees can develop and maintain bad financial habits. They can also rely too much on instinct and their beliefs, rather than facts. What we have developed challenges people to think and question themselves, before we then provide useful information in a well-structured and engaging way.”
Find out more
You can visit www.planonline.co.uk to read more about the courses or view the course demonstrations, or you can contact Jelf directly by email at [email protected] or call on 0333 920 1439.