Employers should take more responsibility for providing financial education, survey suggests

More than a third of the working British population believe that employers should take more responsibility for providing financial education and guidance for their employees.

That is according to Unum’s Workplace Communication Blueprint.

Unum provide employee benefits, which form a valuable part of any effective workplace wellbeing strategy. Their findings – the culmination of a YouGov study of 1,000 employees and an in-depth round table discussion with employee benefits and communications professionals – has highlighted a genuine eagerness among workers for more help and assistance when it comes to dealing with money matters.

Unum’s Workplace Communication Blueprint states that almost half of employees – 47% – found savings and investments confusing, and that if financial education and guidance was more available within the workplace it would help people set and achieve their own financial goals, giving them more control over their cash, and aiding their retirement aims as well as day-to-day, week-to-week and month-to-month budgeting.

Unum’s blueprint also found that 46% of people said that financial education and guidance would be both relevant and useful – and that nearly a third (32%) of workers feel that their employer does not understand what benefits are important to them.

And more than half of workers – 59% – stated that they would be reassured if their employer supported their financial wellbeing.

An employer that offers access to impartial financial information and advice, can certainly come across as someone who cares and supports their workforce. Indeed, 86% of employees who got involved in Unum’s Communication blueprint said that feeling in control of their own finances makes them feel less anxious, and that can lead them to be happier and more focussed in their jobs.