Profile
Industry:
Manufacturing
Employees:
10,000
Location:
UK wide (Head office, 3 factories, 12 depots)
BACKGROUND
The Manufacturer supplies site equipment to various industries across the UK, employing 6,500 factory and depot workers, 2,500 drivers and distributors, and 1,000 office staff. Apart from office staff, most roles operate in shifts throughout the day and night. The company has worked hard to try and engage employees with their financial benefits, particularly at the onboarding stage, but engagement and awareness is far lower than they would like. Time and cost have been a significant barrier when trying to improve the situation.
EMPLOYER OBJECTIVES
Boosting retention is key – while salaries offered are typically market rate, the benefits package is generous, yet staff turnover is still high. The company wants to increase awareness and appreciation of staff benefits to increase retention and loyalty.
The current onboarding process relies on printed or emailed new joiner packs filled with detailed information, which can be overwhelming. Many employees struggle to complete them properly, often selecting default options. The company wants to enhance onboarding to improve benefits awareness, engagement and take-up.
For many employees, rising living costs have been a challenge. Financial knowledge varies significantly across staff, with HR often receiving repeat questions about tax on payslips or their overtime payments. The company believes many of their employees would benefit from educational support on managing their finances, and their increased knowledge will also help reduce burdens on the HR team.
KEY CHALLENGES
- Distributed Workforce: While some employees work office hours in a central location, many others operate in shifts across 12 different sites and factories, along with drivers on the road. This makes it difficult to coordinate and communicate efficiently with all employees.
- Access and contact detail limitations: With the exception of mobile phones, methods of electronic communication with employees is limited. Personal email information is sparse and only office staff have a company email address, causing a significant barrier to effective company engagement and communication.
- Diverse learning and communication styles: The staff includes team members who identify with dyslexia or alternative learning approaches. This requires thoughtful consideration when communicating financial benefits and developing educational materials that resonate with all employees.
SOLUTION
By adopting WellFi, the Manufacturer can implement a seamless financial wellbeing solution that directly addresses its workforce’s needs and reaches every employee. WellFi delivers:
- Mobile access: A mobile number is all WellFi needs to invite and register employees to the app. Using just their phone employees can access WellFi’s complete library of financial education resources – anytime and from any location.
- Simple and Effective Onboarding: New hires have a customised video playlist covering essential topics like reading pay slips, understanding pension scheme options, and learning about their staff savings scheme. WellFi also provides a central place for employees to access and download company forms, streamlining onboarding tasks and helping to reduce HR workload.
- Enhanced Communication: By leveraging in-app and text notifications, the HR team can promote new benefits and inform employees of deadlines or policy changes – improving employee engagement and awareness.
- Inclusive Content: WellFi provides bite-size video and audio-based financial education, cutting through the jargon and perfect for those who find lengthy text a challenge. With immersive topics like “Renting”, “Saving” and “Credit Scores”, employees are kept engaged and motivated to manage their finances with confidence.
CONCLUSION
With WellFi, the Manufacturer can bridge the gap between its workforce and the financial benefits it provides. Employees gain easy access to financial knowledge and a clearer understanding of their benefits, empowering them to maximise their value. The Netflix style format is familiar, engaging and most of all, accessible, meaning all employees feel included, helping the company foster loyalty and improve retention.
