Jamie Mackenzie Marketing Director, Sodexo

1. BENEFITS AND REWARDS SERVICES
SUPPORTING YOUR
EMPLOYEES’
CHANGING
FINANCIAL GOALS
Jamie Mackenzie
Marketing Director

2. 2 –
1. Market issue: Financial wellbeing
2. Demographic of those affected
3. Impact on your organisation
4. How to address this issue
Agenda
Financial Wellbeing - Jamie Mackenzie

3. Market issue: Financial wellbeing
3 – Financial Wellbeing - Jamie Mackenzie
■ 63% of Britons worry about the lack of
savings (StepChange Debt Charity)
■ 28% of employees struggle to save due to
lack of discipline (Sodexo 2013)
■ Only 35% of employees feel optimistic
about their financial future (Barclays 2014)
■ 7.4 m Britons have trouble sleeping
because of money worries (StepChange Debt
Charity)
■ Employees struggle with ‘key areas that
relate to day-to-day money management
and planning ahead’ (University of Bristol Personal
Finance Research Centre)
■ Issue of workers not saving for retirement,
addressed by auto-enrolment of pensions

4. Younger demographic worst
affected as real incomes
have fallen particularly
sharply for young adults.*
33% of 18-34 year olds say
that money worries impact
their productivity in the office
4 – Financial Wellbeing - Jamie Mackenzie
AB Upper and middle class 43%
C1 Lower middle class 51%
C2/D Skilled and non-skilled
working class
70%
*(Comparing 22-30-year-olds in 2012–13 with those in 2007–08, median household income (RPI-deflated) fell by 13% BHC and 20%
AHC. This compares with falls of 7% and 11% respectively for those aged 31–59.(IFS: Living Standards, Poverty and Inequality 2014)
Money worries common for employees across all demographics
Worry about personal finances is a
common theme across all social grades, with
younger demographic (22-30) being the
worst affected:
Independent Quantitative Survey for Sodexo (2013)

5. What employers think…
5 – Financial Wellbeing - Jamie Mackenzie
79% of employers agree that
helping employees manage their
finances would form part of their
HR goals
(Sodexo 2013)
76% of employers agree that
helping employees manage their
finances meets their
organisation’s CSR objectives
(Sodexo 2013)

6. Impact on your organisation
6 – Financial Wellbeing - Jamie Mackenzie
50% of stress
related absences
are caused by financial
distress
Absenteeism
Cost
Sick leave
costs £40,500
per year
1 in 5
say financial
distress impacts
their productivity
Productivity &
Motivation
Cost
300 hours per year
lost in productivity
due to
financial distress
40% of staff
turnover can be
attributed to
financial distress
Cost
£30,614 to replace a
single employee
(based on £25k earners across 5 sectors)
Retention
(Source: Sodexo, Unum and Barclays)

7. How?
7 – Financial Wellbeing - Jamie Mackenzie

8. What employers can do
8 – Financial Wellbeing - Jamie Mackenzie
Reducing financial distress and increasing
financial wellbeing:
 Basic financial education
 Credit counselling
 Benefits information/education
 Retirement education
 Financial coaching and changing behaviours
(eFinplan)
When companies focus on employee health &
financial wellbeing – it increases productivity,
competitive edge and improves ability to attract
and retain talent.
(Towers Watson)

9. What employers can do
9 – Financial Wellbeing - Jamie Mackenzie
Demographic Short-term Medium-term
Younger Discount
Shopping
Money Boost
Middle Discount
Shopping
Money Boost
Senior Pensions Money Boost
Long-term
Pensions
Pensions
Pensions
Plan For
Now
Plan For
Tomorrow
Plan For
Future
“An employee with
financial issues costs the
employer 25 hours
every month in lost
productivity”
(Dr E Thomas Garman, President, Personal Finance
Employee Education Foundation Professor Emeritus and
Fellow, Virginia Tech University)

10. Plan for now – Discount Shopping
10 – Financial Wellbeing - Jamie Mackenzie
 Benefits to you
A low cost way to motivate employees
 Benefits to your employees
Access to exclusive discounts
26%
34%
9% 8%
35% 35%
35%
48%
40%
36%
29% 35%
0%
10%
20%
30%
40%
50%
60%
Employer take
up (portal)
Employer take
up (vouchers)
Employer take
up (cards)
Employee take
up (all)
CIPD Reward
Survey 2013
Sodexo Client
Survey 2013
EBS 2011
Breakthrough 2013
EB / Xexec 2011
37%average employee
take up, making it
one of the most
popular benefits
53%say Discount
Shopping is highly
valued by employees
(Sodexo 2013)
Vouchers and cards offering exclusive discounts from
a range of retailers, often accessible via a platform.

11. Plan for tomorrow – Money Boost
11 – Financial Wellbeing - Jamie Mackenzie
Money Boost card is issued by R. Raphael & Sons plc pursuant to license by Visa Europe Ltd. R. Raphael & Sons plc is a UK Bank authorised by the
Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registration number 161302).

12. Plan for tomorrow – Money Boost
12 – Financial Wellbeing - Jamie Mackenzie
 Money Boost is a simple practical tool
 Empowers employees to establish better
money management
 Allows you to set and achieve medium-term
financial goals
 Employer reward through financial top-up
 Applicable to the whole workforce
 Simple and easy to implement and administer
 Medium Term GAP in the market

13. In summary: Plan for now, tomorrow and the future
13 – Financial Wellbeing - Jamie Mackenzie
Improved Financial Planning2
Enhanced Productivity3
Increased Retention4
Increased Engagement5
Reduced Financial Stress1
Employees’ financial goals are changing so it’s important to offer
solutions to support these …
Plan For Now Plan For Tomorrow Plan For The Future

14. THANK YOU
Come and talk to us to find
out more and for your
chance to win a £200 Simply
gift card.
Visit us at stand 501
www.SodexoBenefitsRewards.co.uk
@SodexoBR_UK