Hachette UK, one of the UK’s leading publishing groups, appointed Jelf Employee Benefits to provide a financial education workshop to its employees during July 2016. Attended by ten employees aged between 19 and 29, the pilot course was specifically created to cover issues that are of concern to under 30s.
Prior to the course, the group were asked about their reasons for attending and what they were hoping to gain. Responses included wanting to gain more financial intelligence generally, although a significant focus for many attendees was ensuring that their finances were in good order prior to buying property for the first time. This included saving for a deposit, information on credit scores and getting out of debt before applying for a mortgage.
71% of attendees said that they didn’t receive any financial education at school, a further 21% said that they did receive some but that it was limited.
Katie Vye, money at work consultant, commented: “We discovered that this group were lacking in confidence about their finances and it was really interesting to watch their self esteem grow through the session. Nine out of ten attendees said they’d discuss the course with family and friends afterwards and the group were much more empowered to tackle their money issues head on.”
Findings from attendees:
- Everyday budgeting was the most requested topic to be covered at the workshop, followed by mortgages.
- 78% said they felt more positive about their employer as a result of knowing that they care about their welfare outside of work.
- 93% felt the course was at the right level and set the right tone for under 30s, and many appreciated being able to discuss the issues with a group of people similar to them.
Victoria Fletcher, Group Training & Development Manager, Hachette UK said: “This is the first time we’ve offered a financial education course to such a segmented part of our workforce, and the results have been really positive. The pre and post survey feedback has really demonstrated that employees prefer to receive financial education with their immediate peers as it can be better targeted and therefore more beneficial. We’re delighted that staff appreciate our investment in helping them improve how they manage their money and equally pleased that many reported that they will be using aspects of the course in their day-to-day life.”
Due to the positive feedback from the attendees and further requests from other employees aged under 30, Jelf delivered another lunch time session in early September that was also well attended. This course will now be run several times a year as demand permits.
To ensure that Hachette support their employees across all age demographics, Jelf also supports them with a range of other financial education workshops covering subjects such as ‘savings & protection’, ‘how to maximise your company benefits’ and have even delivered a well-attended workshop on ‘the importance of writing a will’.
Hachette have a real commitment to providing a variety of financial education workshops to suit the needs of all their employees.