EXCLUSIVE: Publishing group Hachette UK has introduced targeted financial education workshops to address the financial issues of most concern to employees under 30.
The organisation ran a pilot project in July 2016, provided by Jelf Employee Benefits, which surveyed participants before and after a financial education workshop. Almost three-quarters (71%) of participants in the pilot session did not receive any financial education at school, and 21% received limited financial education.
The attendees, who were aged between 19 and 29 years old, listed improved financial intelligence, and ensuring that their finances are in order before buying a property among the reasons for wanting to attend the workshop. Everyday budgeting and mortgages were the most-requested topics for coverage at the pilot session.
A post-workshop survey found that 78% of participants felt more positively towards their employer as a result of knowing that it cared about their welfare outside of work, and 93% felt the tone and level of the course were well-suited to under 30s.
Due to positive feedback and employee requests, Hachette UK ran another workshop for under-30s in September 2016. These targeted financial education workshops will now be offered to staff several times a year in line with demand.
The sessions for under 30s form part of the wider financial education support available to staff of all ages at the publishing group. This includes workshops, provided by Jelf Employee Benefits, that focus on savings and protection, how to maximise workplace benefits, and the importance of will writing.
Victoria Fletcher, group training and development manager at Hachette UK, said: “This is the first time we’ve offered a financial education course to such a segmented part of our workforce, and the results have been really positive. The pre- and post-survey feedback has really demonstrated that employees prefer to receive financial education with their immediate peers [because] it can be better targeted and therefore more beneficial.
“We’re delighted that staff appreciate our investment in helping them improve how they manage their money and equally pleased that many reported that they will be using aspects of the course in their day-to-day life.”