Realigning the workplace savings offering to meet the needs of millennials

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The concept of ‘financial wellbeing’ has received a great deal of publicity in the past couple of years – and many employers are now starting to develop strategies to support staff in this area. However, our research shows that the strategies they are implementing are not meeting the needs of all employees – particularly millennials. Financial support in the workplace continues to focus on providing pensions and pension guidance, but this is not a priority for 18- to 35-year-olds.

This research paper looks at the financial concerns of employees and how HR and benefits professionals can increase employee engagement when it comes to workplace savings. Smarterly interviewed 1,248 employees and 508 HR professionals to find out financial priorities of both cohorts, how employers are supporting the workforce and what employees feel about receiving financial support from their employers.

What you'll learn

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Smarterly aims to turn the UK into a nation of investors, by promoting the benefits of healthy savings habits via people’s employers. We make investing simple, easy and accessible for the mass market – aiming to make buying a Smarterly ISA just as easy as buying a product from Amazon.

Employers use Smarterly workplace savings to enhance the financial wellbeing of their workforce by providing them with an accessible way to save and invest from as little as £10 per month, direct from pay. Employers can contribute to support the varied financial needs of employees as a complement to pensions.

Smarterly integrates seamlessly with benefit platforms. We provide communication tools to drive employee engagement, all at no cost to the employer.

 

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