A blended approach: how best to support employees with a blend of digital and face-to-face advice
As a corporate undertaking, there is much to understand about the financial wellbeing of each of your employees. What’s for certain is, one size never fits all.
Beyond gender, age, education, job function, experience and income, there’s obviously a whole world outside work – family, social networks, commitments and preferences may each have an impact on a person’s financial status.
Where care meets cure
It’s clear that gluing together a hotchpotch of off-the-shelf employee benefits is never going to hold water. Identifying individual needs is a process not a formula, as each person’s path and preferred outcome will vary. A strategy that fits with somebody’s life, hand in glove, is the only way financial wellbeing can successfully be executed and managed. Even then, life throws us curved balls, such as the current COVID-19 pandemic, and we have to be ready.
As the subject of financial wellbeing gains traction, a proliferation of help and advice abounds. For something this unique, there is no substitute for an approach that’s personal. Reward professionals who nobly take on the cause will need to identify programmes that place importance on seminars, and encourage face-to-face sessions with highly qualified advisors seamlessly blended with digital solutions.
Awareness is everything
The most forward-thinking financial wellbeing companies will support this enlightened approach with guidance and current information online and through regular emails. Awareness is everything in our financial landscapes – our lives never stand still. Making updates and tools available is crucial in helping employees make great decisions when their own circumstances change, as well as understanding the impact of evolving economic trends, both current and future.
Supporting your employees
Qualified advisors delivering tailored financial wellbeing seminars face-to-face (where possible) or through online webinars (where face-to-face is not possible), massively helps engagement rates. If this is backed up with a bespoke web portal that guides your employees through their financial life journey, it keeps them connected. Your employees can request advice, book seminars and stay up to date with financial topics thorough an online portal.
To formulate the very best personal plan possible, you need to mix channels, sometimes working with a number of reputable financial partners where necessary to make sure all your people’s monetary bases are covered.
There’s no time like the present
We know money lays the foundations for so many things we do in our lives, both in and outside the office. Having none isn’t much fun. Finally, concerns about money are being recognised as one of the single biggest causes of stress at work and, if left unchecked, it will impact both mental and physical health. Lay a path for your people’s financial wellbeing, and you’ll be fixing a lot more in the process.
There’s no time like the present to inspire your directors and staff with helpful, actionable information that is totally transformative.
This article is provided by Lemonade Reward.
In partnership with Lemonade Reward
At Lemonade Reward, we take a fresh approach pensions, benefits and employee wellbeing.
