Financial education boosts staff engagement

New focus on financial education in the workplace….

An enhanced focus on financial education in the workplace will be the focus of a new seminar at the Employee Benefits Connect 2015.

The session is set to look at how financial education increases ROI (return on investment) and staff engagement with Director of Secondsight Darren Laverty discussing how financial education is beneficial for both employees and employers.

Improved staff engagement and loyalty

Laverty notes that due to the increased number of employers who want to support their staff outside of the office, financial education can relieve a large number of pressures.

He argues that a financial education programme could improve both staff loyalty and engagement and thus significantly benefit the business.

His seminar will also look at how businesses can receive the best ROI from their initial investment into financial education, along with:

  • How to have face to face interaction with staff
  • How to get staff involved in what they want to learn about
  • How to make the financial education programme memorable and interesting to employees

This will ensure that employees have the knowledge and tools to act on what they have learnt so that it will benefit both their personal and professional lives.

A lack of financial support

Laverty commented that as the world becomes increasingly complex, the need for financial education amongst adults as well as children is vital.

“Changes to pension rules, especially around the pension freedoms, taxation, low savings rates and some of the lowest mortgage rates ever seen, are all fuelling the demand for financial education,” he said.

He went on to acknowledge that as we are living a great deal longer we must save more to support us and commented that people just don’t know where to look for financial support when they need it.

Just as Personal Finance Education (PFE) in schools is helping educate kids on these topics to prevent future debt, financial education in the workplace could empower adults to take control of their finances and make informed decisions concerning their money.

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