Engagement

Liz Truss’s government has clearly signalled its pursuit of economic growth. Today’s mini-budget, billed as the “Growth Plan”, contains tax cuts and deregulation, aimed at unlocking private sector investment, cutting red tape, reducing taxes and creating jobs.

It’s vital to have a robust benefits engagement strategy that will help your people understand their benefits, and link them to feeling valued. 

Whilst most employers may have already implemented a traditional mental and physical wellbeing strategy, a recent CIPD survey found that only half of employers have an effective financial wellbeing strategy in place. With the uncertainty that the pandemic has brought, HR teams need to prioritise creating their own financial wellbeing framework for the health of their workforce.

We live in a world where data rules. Forward thinking employers are using data as a key driver to improve their employees’ benefits experience through personalisation.

In the current climate we are now more likely to be borrowers than savers. We spend more, borrow more and save less. This macro trend is not just affecting the young or low paid. It is now stretching across the whole population.

The days of sending a single message to your employees, all in one go, are long gone. We all now expect information to be available to us immediately, and speak directly to our personal needs.

Financial wellbeing is important because it affects everyone, every day. A motivated, healthy and inspired workforce is the foundation of every successful business.