Video tutorial: The changing role of workplace savings for a new workforce

With the workplace changing fast a one size workplace savings offer no longer works, said Andrew Drake, head of rewards and benefits consulting at JLT Employee Benefits, speaking at the REBA Reward Leaders' Forum 2017.

He said there has been a massive shift in thinking when it comes to workplace savings. “There is a general awareness around now that actually alternative workplace savings are the way to look. The world is definitely shifting,” he said.

He described a perfect storm of factors that included the introduction of LISA, millennials, rising house prices and student debt amongst other factors as driving the change.

Drake talked about the cost of retention within businesses and the role of engagement within it and talked about the impact of workplace savings vehicles and bonuses in keeping staff.

This video tutorial was filmed at the REBA Reward Leaders' Forum which took place on 27 April 2017.