Winner
Schlumberger (entered by Clarity)
Judges praised the oilfield service provider’s approach to the difficult task of providing financial education to a workforce of 84,000 spread across more than 80 countries. Its education programme targets two main groups – expatriate employees and international commuters who live in their home country but travel to work as land crew in a desert or jungle, or on a vessel or oil-rig for three to six weeks at a time. Schlumberger wanted to boost understanding of its benefits and avoid losing staff to competitors that offer a bigger cash package. The programme was designed to give staff who have participated in expatriate benefits plans for at least 10 years, or who are over the age of 40, a better understanding of their total benefits package, how it compares in the marketplace, what the perks would cost if bought independently, and the value of deferred benefits.
But reaching all staff was not easy. Expatriate employees could be seen in a business environment, so Schlumberger arranged financial workshops involving its benefits team and an independent financial adviser, followed by one-to-one meetings. For its 4,000 international commuters, the firm developed an online version of the workshops, implemented using “champions” travelling to each location to present the tool to staff. It also developed Excel-based calculator tools around its perks to help staff with financial planning.
Last year, Schlumberger held workshop sessions in seven countries, including China and Mexico, and this year will hold sessions in 19 international locations.
Pictured (from left): Angus Jones, CEO of Clarity and Sarah Moise, benefits manager at Schlumberger. Moise said: “Financial education has made a great impact on our workforce in terms of their understanding of their benefits.”
RUNNERS UP
Henderson Global Investors
The asset management firm introduced its financial education programme to improve employees’ financial awareness. It offered three tiers of education – basic, intermediate and advanced – to cater for all employees’ needs and existing level of knowledge. The education includes presentations on broad financial planning issues, as well as specific topics, podcasts and one-to-one sessions with an independent financial adviser.
Live Nation Live Nation (entered by Foster Denovo)
Live Nation provided one-to-one meetings with an independent financial adviser as part of a wider campaign to communicate the value of its benefits to staff following a series of mergers and acquisitions. It also offers employees a meeting when they leave the company to explain their options when their benefits cover ceases and the impact this will have on their circumstances.
Nutricia The Nutricia Pension and Benefits Scheme (entered by Secondsight)
Nutricia used a variety of methods to engage employees with its new group personal pension plan (GPP). It provided one-to-one meetings with a financial adviser to help boost employee take-up, contribution rates and appreciation of the pension. This was a move away from its former paper-based approach.