Grocery retail giants Ocado and Tesco Stores are among those shortlisted for the Best financial wellbeing strategy category at the Employee Benefits Awards 2023.
At a time when living costs and inflationary pressures are rising, this award recognises those employers which succeeded in improving and supporting the financial wellbeing of staff during 2022.
The financial wellbeing category celebrates the work of employers that have taken a proactive approach to their employees’ financial needs, supporting staff to make positive financial, retirement or investment-related benefits decisions.
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The full category shortlist is:
- Brewers Decorator Centres
- Oxford University Hospital University Trust
- Tesco Stores
- University of Salford
At the 2022 Employee Benefits Awards, the award was split into two categories for small and large employers. In the small employer category, the accolade went to IT services business Claranet UK, while the large employer award was won by retail logistics firm Clipper Logistics.
Claranet UK won due to the steps it took to engage employees with their financial wellbeing and improve financial literacy, including taking an approach that recognised employees’ personal financial goals and priorities.
A spokesperson for Claranet said: “So much effort has been put into prepping this and getting it out to the business. The current context of the world is really hard, so the fact that we were able to find the tools and be able to deliver it has been amazing.
“This benefit in particular gave everyone the ability to have the education on how to make life a bit better for themselves if we weren’t able to do that for them.”
Clipper Logistics, meanwhile, was one of the first logistics organisations to introduce a wage access platform after identifying an ongoing issue among its warehouse employees; the organisation invested in face-to-face communications around its launch. The judges were impressed with the steps taken to support these employees, in order to offer greater job security and aid their financial wellbeing.
A spokesperson from Clipper Logistics said: “It’s all about the employees, I believe we offer them a good service. A lot of hard work went into this from our HR and payroll teams. A lot of communication, roadshows, putting it out there for the employees. Because we pay on a monthly basis, the fact that they can get their wages as and when is a great benefit.”
The Employee Benefits Awards is the event of the year for the reward, benefits and HR industry, providing the opportunity to recognise and celebrate those driving excellence through their reward and benefits strategies.
The 21st annual awards ceremony will be held at the Honourable Artillery Company, London on 23 June.
The daytime event will include a drinks reception, three-course meal, entertainment and the chance to network with industry professionals. The after-party will include live music, dodgems, a carousel and a big wheel in the venue’s private grounds.
Follow the action on Twitter via @EmployeeBenefit and join in the conversation using #EBAwards23.