More employers are recognising the need for and the benefit of providing financial education to their staff, so driving up the demand. And this is set to continue increasing.
Financial education may be introduced as part of an overall wellbeing improvement programme, to increase engagement with pensions and other benefits, to provide dedicated support to staff groups affected by change, such as retirees or those impacted by the reducing lifetime and annual pension tax allowances, or simply to reflect the organisation's culture and values to support their people.
Whatever the reason, financial education is here to stay and the best solutions don't just help individuals, they can also support an organisation's wider HR and strategic initiatives and drive value to the bottom line.
Financial education and advice to increase by third in 2016: As employers embrace financial wellbeing as a key strategy, the introduction of financial advice and education is set to see the biggest expansion in 2016 and beyond, according to research from the Reward & Employee Benefits Association (REBA) and JLT Employee Benefits.