Why knowing your audience is key for sharesave messaging
Men are more likely to opt into sharesave and save more, according to analysis by YBS. When analysing our business 56% of males compared to 44% of females participate in the sharesave plans across our entire book.
Further analysis shows that males save on average £117 per month compared to females who save £87 per month, that's more than a third (35%) more.
This is an important factor to consider when planning any communication campaign since a company needs to fully understand the breakdown of their eligible workforce and the various messages needed to engage everyone in the plans they offer.
Insight shows that when the messaging is right, we see a more balanced level of engagement. For example we recently saw take-up levels for one of our clients in the travel industry split by:
- 37% of males compared to 36% of females chose to participate in their company share plan
- Average savings for males was £79 compared to £62 for females
.. and when the messaging is right employees will share that with you. “It is a good system for saving, and you get the option to take the shares or cash,” said one employee.
This article was provided by YBS Share Plans.
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