EXCLUSIVE: Skills development organisation the City and Guilds Group has launched an online financial education programme for its 900 UK-based employees.
The new programme, provided by Nudge, was implemented on 11 June 2018. It was designed to align with the organisation’s key business purpose of developing individual skills and capabilities; the City and Guilds Group wished to equip its employees with the relevant knowledge and skills to better manage their money and prepare for their financial futures.
As part of the financial education programme, employees can access an online platform that helps them plan for their specific financial goals.
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The online programme also sends employees personalised notifications, or nudges, offering bite-sized tips and guidance on relevant financial topics they might need to know or be interested in. This includes information on legislative changes or interest rate fluctuations, advice about lifestyle changes such as moving house, or details on employee benefit adjustments.
The programme was communicated to employees via a series of roadshows. These took place in Burntwood, Brighton, London and Wakefield. The organisation also used webinars, emails and posters to promote the new employee benefit.
Ricardo D’Ash, group reward manager at the City and Guilds Group, said: “As a business, our purpose is about developing skills. By adding financial education to our reward strategy, we want to give our people the skills and capabilities to better manage their money and prepare not only for their financial futures, but [also] those ‘rainy day’ moments.
“City and Guilds Group were one of the early pioneers when launching flexible benefits and have offered focused physical and mental wellness support since 2010. When we decided to add a financial wellness element to our strategy, we concluded that this was best delivered through a personalised financial education programme.”