A pension is the employee benefit that workforces value the most, according to the results of a survey carried out by benefits consultancy Punter Southall Aspire with the Chartered Institute of Personnel and Development (CIPD) between December 2022 and January 2023. Some 900 of the 1,700 HR professionals who responded to the research said this was the case. This suggests that long-term thinking about their future is an important aspect of working life for employees, so employers should look to engage younger workers with pensions sooner rather than later to ensure they are building an adequate retirement income.

Employers may find that it does not matter what they include in pension communications, because if it is not engaging then employees will not pay attention to it. To combat this, as a starting point, it might be worth asking staff to think about what their older selves would say to their current selves about their financial situation.

Mark Bingham, Partner at Secondsight, gives his thoughts on how employers can engage a younger workforce with their pensions and how employers may want to consider helping employees take their finances seriously as a whole before talking about pensions.

To read the full employee benefits article, click here.