Financial education
Financial education helps employees to understand the value of benefits such as pensions and share schemes. Employers can help staff make wise decisions about money and investments through workplace workshops or seminars and information. Tools such as benefits modellers, meanwhile, can help staff to calculate the impact of decisions they make around particular perks, for example, when setting pension contribution levels or selecting which options to take in a flexible benefits scheme. Some companies include the added perk of personal debt management, which can help to reduce employees' stress levels and so indirectly contribute to improved performance.
Definitions of common financial education terms
How to manage financial education; Buyer’s guide to financial education
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News
North Lanarkshire Council offers staff financial advice
North Lanarkshire Council has launched a financial advice service as part of efforts to look after the health and wellbeing of its 18,500 employees.
07 Jul Axa research: Financial worries prompt stress related absence
05 Jul Financial education needed earlier
13 May Legal & General launches new campaign to help employees manage their own finances
05 May Life Academy launches retirement planning service
Analysis
Financial education: Be sure to hit your target audience among employees
Making financial education relevant to each employee that receives it is the key to maximising staff awareness and take-up of benefits, says Peta Hodge
29 Mar Financial education: Interview with Andrew Pendleton of York University
29 Mar Financial education: How to build a business case
29 Mar Financial education: Likely effects of the retail distribution review
29 Mar Financial education: Sponsor's comment: Wide strategy needed to get the financial message across
Case Studies
Case study: Marks and Spencer sets store by education
Marks and Spencer (M&S) offers financial education to all staff. It targets its 60,000-plus store staff through seminars and leaflets in association with the Financial Services Authority's 'Money matters' programme.
01 Feb Case study: Blaenau Gwent County Council
01 Feb Case study: Axa
01 Feb Case Study: Simply Health Group
01 Feb Case Study: Abbey
01 Nov Case Study: Certegy rationalises pension arrangements
Research
Employees' financial worries affect performance at work
More than a quarter of workers do not feel in control of their finances and believe their financial worries are affecting their performance at work.
07 Jul Axa research: Financial worries prompt stress related absence
02 Feb Financial Education Supplement
15 Sep Financial education needed to encourage staff to save
01 Sep EAP use rises in downturn
