Chase de Vere has launched a financial education in the workplace service designed to improve employees’ engagement with existing company benefits, increase financial competence and reduce stress related illnesses.
The firm says its new service differs from other offerings because it goes beyond existing benefits to cover day-to-day budgeting, debt management, savings and investments, protecting family members and saving for retirement.
Chase de Vere cites demand for the new offering highlighted by research from the Health & Safety Executive that shows stress accounts for 43 per cent of all working days lost, many as a result of money worries. That research identified leading money worries as paying off debts, rent and mortgage costs, paying household bills, a lack of savings, coping financially in old age, care costs for children and elderly dependants and family finances on death of a breadwinner.
Chase de Vere says it will measure the results achieved from its financial education services to calculate improvements in engagement and financial competence of employees.
Chase de Vere corporate advice manager Sean McSweeney says: “A strong and successful business needs to recruit, develop and retain the best employees, with a focus on wellbeing as well as reward. It is clear that stress, particularly with regard to money worries, is a great concern for many employees and results in lower business productivity for many companies.
“Research we conducted earlier this year showed that 88 per cent of employers saw a greater needed for financial education in the workplace. We have launched the ideal service so they can provide this.
“Our financial education services are delivered by authorised and regulated independent financial advisers, anywhere in the UK and tailored specifically to the employer, their employees and the available budget”.