Mental health issues and stress caused by financial problems are not confined to the time an individual spends outside the workplace, it can also have a negative effect on their working lives too. Research from Capita found just over 34% of employees feel stressed because of their current financial situation, with 21% feeling that their financial worries have affected their work.
Indeed, the growing sophistication of financial markets means your empoyees are now no longer just choosing between interest rates on two different bank loans or savings plans, but are rather being offered a variety of complex financial instruments for borrowing and saving, with a large range of options. And whilst people have always been responsible for managing their own finances on a day to day basis – it’s clear that recent developments have made financial education and awareness increasingly important for employee well-being.
The financial education sessions we offer members at DAM provide employees with basic information on some of the main financial products available to them, as well as the opportunity for individuals to gain more specific information on their personal circumstances.
How do DAM’s Workplace Financial Education sessions work and cost?
The workplace financial education sessions involve one of our consultants attending the premises to give an overview of the new pension rules and what they mean, the retirement options available for savers and the most important rules associated with each. We will also cover the most common mistakes that savers could make when deciding what retirement package is right for them.
Our consultant will speak face-to-face with any employee looking for some specific retirement advice and can give a more detailed explanation of each individual’s specific options.
Depending on the company, the cost of a DAM Workplace Financial Education session ranges from £500 to £750.
Why should employers provide financial education in the workplace?
Financial education in the workplace is becoming more of an expectation than a luxury. A recent Barclays study found that nearly 2/3 of all employees seek financial education and guidance however, 17% claimed this was currently available to them.
The benefits of introducing workplace financial education can be seen through 73% of staff receiving such education on pensions stating that they feel more engaged with and positive about their employers.
How can I find out more about DAM’s Workplace Financial Education sessions or book one?
Whether you are already thinking of dates for a workplace financial education session or you still have any doubts or further questions, you can give us a call at DAM on 0141 222 2045 or email us at firstname.lastname@example.org and you’ll be able to speak to one of our team about financial education.
One of our consultants can even talk you through the financial education process in more detail and cover everything you may want to know