Secondsight, the award-winning employee benefits provider, has today announced it has added a new wellbeing hub as well as a total reward statement tool to its online benefits portal, Mybenefitsatwork.
The moves come after the firm has seen increasing demand from employers looking to better support employee’s emotional and financial welfare, as well as attract and retain talent.
Hosted within the hub is a range of concise educational articles, videos, tools and useful resources available to employees. It also features the option for them to test their own personal financial wellbeing, using a bespoke scoring system which then suggests potential remedies and solutions.
As well as providing education, the hub features clear signposting to external advice bodies and further materials to point people in the right direction to seek further help where required. It also includes a pension calculator where employees can forecast how much they are on track to retire on, based on their current pension contributions, circumstances and certain assumptions.
Ian Bird, Senior Partner at Secondsight, commented: “The detrimental impact of financial stress on employee’s productivity, attendance and engagement has become clearer in recent years. As such the need for financial know-how among the working population has never been greater, yet easy access to financial advice and support is increasingly hard to find.
“The commercial case for supporting a workforce’s mental and physical wellbeing is clear and we are increasingly seeing employers wanting to take on more responsibility in this regard.
“It is vital that hand-in-hand with education, we are providing access to the tools employees need to help solve their issues in addition to helping them to just understand them. So often this second step is forgotten. That is why we have made sure that within this new hub we provide not just the necessary education but also calls to action and access to additional resources that will really allow people to improve their overall wellbeing.”
Mybenefitsatwork is a high-impact and cost-effective employee engagement portal that helps employers showcase the benefits they provide. It also serves as an educational hub for workers around financial matters such as financial planning, pension and retirement, debt management, savings and investments, financial stress management, general financial wellbeing and more.
It is fully customisable and designed on a per product basis, tailored to both businesses and their individual employees. This means the financial wellbeing hub can either be used as a stand-alone platform, or as part of the full employee benefits portal.
Secondsight has also added a new total reward statements section. This provides a simple but effective tool that illustrates the financial value of an individual employee’s total reward package, encompassing basic salary, bonus, pension contributions and all other available benefits.
Mr Bird added: “It is becoming an increasingly difficult environment in which to attract and retain top talent. At the same time, we are continuing to see employee benefits undersold and underutilised. We believe this is due to poor communication and jargon-heavy language leading to minimal awareness and misunderstandings of the true value of such packages.
“This simple cost-effective tool will allow employers to not only showcase the attractive benefits they offer and the value of these, but it will also provide vital education around the value of longterm savings and pension contributions.”
Secondsight and Mybenefitsatwork are trading names of Foster Denovo Limited, which is authorised and regulated by the Financial Conduct Authority.