EXCLUSIVE: Barclays Corporate and Employer Solutions has partnered The Positive Ageing Company to launch an online tool to help employers support the challenges of an ageing workforce and their differing financial needs.
The tool will sit within Barclays’ Money Works website.
It offers employers information and advice to help staff assess monthly outgoings to ensure they are prepared for retirement.
The tool will also include guidance on the cost of care homes for employees that care for ageing relatives.
Katharine Photiou (pictured), head of workplace savings at Barclays Corporate and Employer Solutions, said: ”Not only are [Generation X’s] children living at home for longer, they are often also responsible for caring for ageing parents, and many people are working for longer than they have previously.
“Employers need to realise they have a role in providing support and guidance. This new tool has been designed to help them start to achieve this by showing a real awareness of the financial challenges faced by employees throughout their careers.
“Giving employees the opportunity to address their concerns and turn them into practical and realistic solutions is a much more productive way of working, and can, ultimately, have a positive effect on employee engagement.”
Chris Minett, director of The Positive Ageing Company, added: “Organisations are increasingly recognising the impact that ageing issues are having on employees and their families, and the business case for offering positive and proactive benefits that enable employees to better prepare for and better manage personal and family ageing issues.”