If you’re an employer you’re in a unique position to offer help to your employees so that they can manage their finances better. There are also certain incentives that can provide tax breaks for you as an employer.
Some of the things you can do for your employees are:
- Invite experts such as your pension provider, local bank’s mortgage specialist to discuss money matters with your employees.
- Ease the burden of commuting costs for your employees – help out with travel season tickets or provide a bike to work scheme.
- Look for ways to help employees manage work related expenses, like providing a corporate credit card.
- Health insurance through the workplace can give your employees additional medical benefits for them and their loved ones.
Helping your employees with their finances shows that you care about them and appreciate the work they do for you. This can help to improve employee retention.
We always recommend speaking to a financial advisor that can help you work out which benefits will be most useful to your employees.