What do employers need to know about providing workplace financial education to employees?

Many employers are recognizing that caring for employee’s wellbeing gives employees more motivation. One way to do this is to provide a Workplace Financial Education to employees.

Before deciding to implement a Workplace Financial Education programme, the employer needs to decide what content should be included and how it should be delivered. For example, at Four Wealth Management we offer both face-to-face and online workshops.

Financial education programmes usually cover a broad range of financial topics including investment and pension planning, tax planning, managing money and how to pay off debts. At Four Wealth Management, we tailor the programme to your individual company and employees by determining which issues are important to your staff and empowering them to manage their personal finances better. We typically run a series of seminars so employees can choose which ones they feel are relevant to them.

Workplace Financial Education can also be used to help your employees to understand their workplace benefits packages, for example their workplace pension, share schemes and salary sacrifice. Educating your employees on how to make the most of their benefits will help improve employee motivation and retention which will in turn reduce recruitment costs. Providing Workplace Financial Education can be seen as an employee benefit in its own right as you are helping your employees to increase their financial awareness and understanding.

Since the introduction of auto-enrolment pensions, many employers are looking for ways to provide staff with information to make the most of their workplace pension. Workplace Financial Education is a good solution as the seminars are interactive and allow employees to ask questions about their workplace pension, personal contributions, tax relief and choosing investments.

Employees that attend Workplace Financial Education workshops are likely to be less worried about their finances and take less time off for stress-related sickness.

At Four Wealth Management, we are looking to build long-term relationships with companies and therefore do not charge for any of our Workplace Financial Education workshops. Instead we are looking to support your employees at every life stage, from the beginning of their career all the way to retirement.

No-obligation meeting

To book a no-obligation telephone or Zoom meeting with one of our financial advisers to discuss options for Workplace Financial Education in your workplace, please call us on 0117 973 0500 or visit: www.fourwealthmanagement.co.uk.

Four Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website at www.sjp.co.uk/products.