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Employers can offer this tool to employees through benefitsproviders, while the Department for Work and Pensions has a dedicated website. Effective midlife support can be delivered through one-to-one coaching, group workshops, webinars, individual reflection workbooks, or a mixture,” she says.
It offers pre-retirement seminars focusing on a holistic approach to pensions , tax implications, the psychological impact of leaving work, wills and estate planning, that are primarily aimed at older workers but do get interest from younger staff as well. They pass this on through meetings with each department.
As a starting point, employers can survey staff to ascertain their situations, and get creative with benefits that can help employees both today and in the long-term, says Steve Watson, director of policy and research at Cushon. Different channels of communication will be required for each group.
Employee Benefits Live 2023: Enterprise Rent-A-Car has supported employees during the cost-of-living crisis with a salary increase and conducted a benchmark analysis of its pay and benefitsproviders. Llewellyn said: “It’s been about getting benefits in a quicker timeframe.
It offers free and impartial help with money, pensions and everyday savings,” he explains. “There are also various tools and calculators available, such as budget planners and pension calculators.” Employers could also train some employees to spot colleagues who are financially stressed and provide financial first aid.
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