Every employee is an individual in their own right – and has different needs.
It is so important to keep that in mind when it comes to your staff’s financial wellbeing.
One size doesn’t fit all. Not when it comes to your people!
Everyone’s life and circumstances are different, so no two financial needs are the same. Creating a tailored financial plan, depending on your employee’s age, needs, life stage and the sector they work in, will help staff fully understand their future wealth, take control of their lives in the present and make good financial decisions.
This is what Tom Banham, CEO of Hoyland Common Academy Trust and a client of Lifetime had to say: “Rarely does anyone understand how their employer-provided benefits dovetail with their private provision, whether this is their pension, life insurance or any other benefit.”
It is vital for all employees to have the chance to understand and appreciate how important their non-salary benefits are in order for them to make more informed financial decisions.
By having access to a digital service – and their own bespoke plan – an employee can be placed in control of their own finances. They can easily access the information, guidance and planning they need from wherever they are, and whenever they need them. They can make more informed decisions at just the right moment. Empowerment leads to the ability to make informed decisions.