EXCLUSIVE: 26% run workplace financial education initiatives

EXCLUSIVE: Around a quarter (26%) of employer respondents have financial education initiatives in place, according to research by Employee Benefits and Staffcare.

The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that 32% are looking to implement financial education initiatives.

While not directly comparable, 14% of respondents to the Benefits research 2014 included financial education in their core benefits package for all staff, and 6% did so for some staff. Only 2% included financial education in their flexible benefits programme three years ago, and 9% offered it as part of a voluntary benefits scheme.

As in 2016, employer-facilitated financial advice remains in the top five workplace savings benefits provided by respondents’ organisations. A fifth (20%) of respondents offer access to financial advice, and 76% of these respondents offer it as a core benefit to all staff.

Respondents continue to help staff with everyday transport costs, with more than half (54%) offering season-ticket travel loans to employees. Over the years, season ticket loans have consistently appeared in the top 10 benefits offered by respondents. Although the data is not directly comparable, 28% of respondents to the Benefits research 2007 offered these as a core benefit to all staff, while 10% offered these on the same basis to some staff.