Personal savings - role of the Employer

Citysave credit union Ltd

We are not good in the UK in arranging savings to protect ourselves from the sort of occasional financial shock that hits all families. 

Over half of us have less than £100 in readily accessible savings. Employers can help.

Not by paying more but by providing access to savings, as an employee benefit, through simple monthly small deductions from pay sent to approved regulated savings providers. A zero cost benefit.

There is a large amount of research around the link between financial wellbeing and the role of employer.

“Today’s businesses need to consider the impact financial worries are having on employee health, happiness and productivity and look at what they can do to help reduce stress levels.” (Chartered Institute of Personnel and Development, 2017).

“52% of UK employees agree that they would choose a company that cared about their wellbeing over one that pays more.” (Reward Gateway 2017).

A recent BBC article (read here) stressed the need for households to have access to basic savings.

It would be great to see more Birmingham companies set up access to free, safe, protected savings as an employee benefit.

Please talk to us - we can set you up easily and your employees will love you for it!