Face-to-face approach to staff retention
A market research company has improved staff retention by adopting a more personalised approach to financial benefits and retirement planning.
Information Resources scrapped its online financial benefits sites and wrote to its entire staff inviting them to have an individual meeting with a financial advisor, arranged by the company.
Personnel Today reports that over 90 per cent of Information Resources responded to the exercise and two out of three (65 per cent) now believe that they will reach their target retirement income.
More than half of those taking part in the initiative stated that it would influence their decision about whether or not to remain with the company.
Commenting on the scheme, Information Resources human resources director Ros Smith said: "The personalised, face-to-face strategy proved to be very effective in communicating the benefits and offering advice to each individual employee."
Proposed changes to the Pensions Bill out forward by pensions reform minister Mike O'Brien could see employers banned from encouraging or forcing staff to opt out of workplace pensions by offering them inducements or placing pressure on them.
Filed: 27-06-2008
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