Understanding your employees can lead to better financial education
Each and every one of our employees is different. They all have their own unique roles and responsibilities both inside and outside of work. As well, many are going through different stages in their life which means making important decisions.
Financial education provides employees with tools and resources to help them make better informed financial decisions. But, because financial education is so unique to your workforce, there is no one size fits all approach. So, how can you tell if what you are offering your employees is what they actually need and want?
Here are a few ways you could get started:
Asking your employees via an anonymous survey what they would like from their financial education programme is one way to start collating peoples thoughts. This also gives everyone the opportunity to have their say without feeling embarrassed.
It may not be for everyone, but getting your employees together in an open forum, whether that’s online or face to face, can be a good way for employees to share their ideas. Getting everyone involved at this stage can also be good for engagement and take up.
Through line managers
Not everyone likes talking about their finances, but gaining feedback through line managers can be beneficial. Just asking a question on what their team might need or want when it comes to their finances can help provide a better understanding for you.
Personal Financial Wellbeing Assessment
This short, anonymous survey asks high level questions to help you pinpoint where the financial stress lies within your business. It is a quick and easy way to get results and reach all of your employees.
Assessing your employees by using any of the above methods means you can implement and deliver what is likely to be best for them and your business. Using surveys or the Assessment also means that you can segment your results by age groups, life stages or even higher earners, meaning your approach will be targeted and more effective.
To find out more about how to create a financial education programme best suited for your organisation, download our free financial education guide, here.
You can also see further details about the Personal Financial Wellbeing Assessment here.
Secondsight is a trading name of Foster Denovo Limited, which is authorised and regulated by the Financial Conduct Authority.
Information correct as of 23/07/2021