What our clients say

"Very helpful as pensions are hard to understand. Was put in layman’s language."

Financial Education: How to deliver financial empowerment to your staff.

A start, middle and end

We believe financial literacy is a story. There is a beginning, middle and an end. We see this as engagement, education and empowerment. So how do we get your staff to read the story?

Face-to-face or online?

There appears to be two schools of thought in relation to learning – old school favouring face-to-face and new school pushing online.

There is little doubt that face-to-face training can work, but the cost can appear prohibitive – not just the cost of the teacher, but the cost of downtime whilst staff attend the sessions during working hours. Also, once the session is over, many staff will quickly forget the content, whether or not the material was interesting and however good the presenter. Face-to-face is the beginning, the engagement but a couple of hours is not long enough to be true education.

The alternative is some form of remote training – electronically delivered to a mobile device near you. Don't think your staff are internet savvy? Think again. Smart phones, tablets – it’s not one per family, it’s one (or more) each. With masses of material, many different sources – the power of the internet is unrelenting – how did we ever live without it? But how much of this is actually accessed never mind acted upon? Many insurance companies have invested millions in highly sophisticated online help systems to support various investment products. The result is very little additional business and very little additional traffic. You see, they skipped a step – they cut straight to education without first stopping to engage.

So which is best (luddite or technophile)?

Well neither actually. The third and only successful way is a bit of both. You see, one without the other just doesn't add up whereas together they can be more than the sum of the individual parts.

The argument against face-to-face is the downtime of employees – but this is flawed short term thinking. If you provide staff with online solutions then they still need time to digest and learn – and do you really think this will be done willingly outside of office hours, before staff know it will be hugely beneficial and more importantly easy to do? Come again. Coupled with general apathy, the outcome is a cheap solution and an expensive mistake.

Likewise, face-to-face is great, but on the basis that only a fraction of the information available will be digested, it is vital that some form of follow-up is available – online, telephone or even paper based support.

First Actuarial's Independent Financial Education - FA IFE

That is why FA IFE has been developed to offer the best of both worlds – starting with engaging face-to-face workshops to lay the foundations and spark interest and belief, built on by quality website support to educate the individual. The outcome: empowered staff who have the confidence and knowledge to act – simple steps along the road to financial freedom.

Imagine a workforce who appreciate all that you as the employer are doing for them. Imagine a workforce that can see the benefit of loyalty. Now stop imagining and get acting – give your staff financial education. Give them FA IFE

Click here to see the feedback from group IFE workshops we have run.