Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Staff want financial education from employers, but few have access

by September 19, 2023
September 19, 2023
Staff want financial education from employers, but few have access

The vast majority of employees believe they would benefit from financial education and guidance from their employers, but only a third have access to it, according to new data.

The data, sourced by the global employee pay company CloudPay, revealed that 91% of employees believe that they or their colleagues would benefit from employer-led financial education, support and advice, however, only 34% currently have access to it.

CloudPay’s data also showed that the number of people using Earned Wage Access (EWA) to pay for household bills grew between January and July 2023, highlighting the ongoing challenges that many are facing due to the cost-of-living crisis and other inflationary pressures. Employers are being encouraged to modernise pay and payroll processes in order to better support their staff in light of the challenges many are facing in the current economic climate.

Judith Lamb, Vice President of Global HR at CloudPay, said. “It’s no secret that many people are facing significant difficulties managing their finances in the challenging conditions that we’re currently experiencing. However, it’s also clear that staff are looking for additional financial education from their employers to help them navigate this tough period. There’s very little resource for education around money management in the UK school system and the onus is falling on employers to provide information that can help professionals to tackle conditions that they have never faced before.”

“Providing this sort of education isn’t only just the right thing to do, it can also prevent staff attrition levels rising as employees move to source better pay. Few organisations can afford to continue offering higher salaries at the moment, but providing education around how employees can better manage their available resources can help salaries to go further. The onus is on employers to lead this charge as there’s currently a major gap in the market for this sort of expertise. Being able to access earned wages as and when they are needed can obviously provide a huge helping hand, however, there’s clearly a demand for greater degrees of financial education on top of this.”

Read more:
Staff want financial education from employers, but few have access

0
FacebookTwitterGoogle +Pinterest
previous post
Digital health platform Awell secures $5m investment to automate and streamline care workflows
next post
Pay rises in the tech sector outstripping UK averages despite vacancy decline

You may also like

Google’s rival to ChatGPT launches for over-18s

March 22, 2023

Big business wants louder voice at COP28 as...

May 30, 2023

How Can You Help Your Investments Weather the...

October 24, 2022

Homeworking means over an hour extra time to...

January 25, 2023

Google Play Store Introduces New Features

October 4, 2023

British tech firm Raspberry Pi set for £500m...

May 12, 2024

How to Boost Employee Engagement in a Hybrid...

March 22, 2024

Names of UK Covid business loan borrowers to...

January 5, 2023

Business confidence at lowest in 21 months

November 30, 2022

How To Fund Your Startup

October 12, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • AI takes entry-level jobs as big four slash graduate hiring

      June 25, 2025
    • Expert witness casts doubt on DHSC’s sterility testing in PPE Medpro case

      June 25, 2025
    • Government backs UK Steel call to tighten import safeguards amid threat of global oversupply

      June 25, 2025
    • US airstrikes leave a mark on Iran’s nuclear sites, Maxar satellite images reveal

      June 25, 2025
    • Who is Neera Tanden? The controversial Dem operative who testified on Biden’s mental acuity

      June 24, 2025
    • Dem senator plows ahead with war powers resolution despite ceasefire

      June 24, 2025

    Categories

    • Business (8,302)
    • Investing (2,069)
    • Politics (15,787)
    • Stocks (3,167)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved