Video tutorial: Empowering your staff to take control of their own workplace finances
“Everyone at some point worries about money,” Judith Groves, managing director of Like Minds, told delegates at the REBA Reward Leaders' Forum. “It’s a very personal thing in many ways and is not neccessarily related to just having enough to live on,” she said.
Watch the session 'Empowering your staff to take control of their own workplace finances' in full.
Presenting alongside Paul Waters, partner at Hymans Robertson, Groves and Waters looked at how to work with clients to help people improve their financial wellbeing
“There are three key things needed to introduce a financial wellness programme and make it work well,” said Waters. “Number one work with your employees to understand their needs find out what works for them. Secondly sweat your benefits design and thirdly don’t let the delivery framework be a barrier to access,” he said.
Groves outlined research her company had done to help understand how to deliver a powerful financial wellness programme.
“Consider the broad goals of your financial wellbeing challenge,” she said. “Secondly think about how you inspire people, think about talking to people’s unforseeable futures and don’t ask people to ask for help because we know people don’t like to ask for help,” she said. “Thirdly integrate financial wellbeing into your benefit design and deliver it over mltupile channels nad make it easy to access. Finally think about how you deliver your financial wellbeing communication in a way that is focussed on your needs and also the needs of your employees so that we you do can connect with your goals, your values and your brand.”
This video tutorial was filmed at the REBA Reward Leaders' Forum which took place on 27 April 2017.
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