WEALTH at work conducted research titled 'Is the financial well - being of your employees important?'in May 2010 amongst key HR, Reward & Benefits and Pensions professionals.
The survey revealed that 68% of employers provide
financial education in relation to retirement planning but only 38% of employers
provide generic
financial education for all employees. The survey also indicates that many
employers (76%) think that the provision of
financial education is set to increase. This was agreed upon by 100% of the FTSE
100 surveyed.
Jonathan Watts-Lay, Director at
WEALTH at work comments, "The survey revealed that even though currently the
majority of employers are only providing education at retirement, a large proportion of companies
think this will increase.
WEALTH at work is definitely experiencing this new trend. As
WEALTH at work celebrates its first year in business since the buyout from
JPMorgan - it has educated over 8,500 employees in the last 12 months on all topics ranging from
general financial awareness and redundancy to bonus and retirement planning".
He added, "For example, many employees do not understand many of the complex issues
surrounding financial issues in the
workplace, whether they are in the board room or on the shop floor. This could
include such items as the new recent capital gains tax rates and their effect on company share
schemes following the emergency budget.
Financial education is imperative to ensure employees take action now to avoid
potential tax liabilities and plan for a better financial future".
Please see the
survey results PDF attached.
