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Workplace pensions and advice can increase staff loyalty

According to Wealth Wizards, over 57 percent of people are more likely to stay with a company that offers pensions related advice

Recent research by the online pension adviser showed that those surveyed were most likely to remain loyal if their company demonstrated that they cared about their financial health and offered advice. In fact, almost three-quarters of 18-24 year olds said they would remain loyal.

They were also the group with the strongest feelings around the importance of responsible business behaviours and over seventy percent of this age group felt it was irresponsible of companies not to provide pension advice as part of their employee package.

Wealth Wizards chief executive Andrew Firth, said: “Staff recruitment and retention is no longer just about a salary – employees are increasingly looking for benefits packages that meet their requirements, and this research tells us that employers that care about the financial health of their workforce come out on top.

“With auto-enrolment and the shift towards individual responsibility for pension saving, employers need to take a more active role in providing access to advice for their workforce on how best to manage pension and retirement plans.”

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