Benefits communication technology and workplace financial wellbeing services
clarity’s financial planning expertise and technology extends to the workplace. We help employers generate more value from their pensions and benefits, through our bespoke communication technology and workplace financial education and advice services.
By helping your employees understand and appreciate the workplace pension and benefits you provide, we enable you to increase loyalty and significantly improve return on investment (ROI) from your reward spend. Crucially, we focus on demonstrating the real value (not just the cost) of what you provide for employees – both now (2D benefits™) and in the future (3D benefits™).
Our workplace services fall into two main areas:
- bespoke pension and benefits communication technology
- independent financial advice, education and guidance for partners, directors and employees
Many employers recognise that workplace financial education should now be an integral part of their employee wellbeing package. With ever-increasing financial pressures and choices, and a constantly changing legislative framework, more and more people are looking to their employer for help.
Our user-friendly, intuitive technology, with relevant and clearly presented information, provides the foundation for delivering this support to large numbers of people in a cost-effective and consistent way. Access to high-quality independent financial advice then gives an extra layer of comfort and support for employees with more complex financial affairs or during key life stages.
The global pension landscape has been through significant changes in recent years. Auto-enrolment, led by markets like Australia, has meant that we now have millions more people saving in workplace pension schemes. This is excellent progress, but with the vast majority of private sector employers using defined contribution (DC) arrangements, employees need help with their retirement planning decisions. The introduction of the 2015 pension freedoms in the UK, has added further complexity - but brings more choice, similar to that available in the USA and other countries.
Improving financial education and giving employees the tools they need to understand, assess and manage their own money helps give them peace of mind. In turn, employers can be confident that their wider investment in employee benefits is understood and valued - with improved staff retention as a direct consequence.
Our employer clients are typically large, multi-national organisations, with highly skilled and, often, internationally mobile employees. We also specialise in working with accountancy and professional services firms, advising partners, directors and employees who are subject to investment restrictions. To handle these additional compliance requirements, we have developed a bespoke independence reporting system to automatically notify the appropriate people of any relevant investment transactions.
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“We appointed clarity following a suggestion from our pension trustees that we offer financial advice to our employees to explain the closure of our final salary pension scheme. clarity has provided an excellent series of seminars and one-to-one meetings for staff all around the country to explain the implications of these changes and what actions individuals need to take. This has been backed up by a newsletter and website featuring additional information, a forum for advice and questions and an on-line pension calculator. We believe that when making such changes it is important to explain their full implications for employees.”
Regional HR Director