Profile
Industry:
Higher Education
Employees:
4000
Location:
UK City (multiple campuses)
BACKGROUND
The university prides itself on offering a comprehensive benefits package, supporting the mental and physical wellbeing of its faculty, researchers, administrative personnel, and facilities teams. However, despite these efforts, they’ve identified a gap in financial wellbeing provisions.
EMPLOYER OBJECTIVES
Having invested in other wellbeing resources the university is keen to have a dedicated financial wellbeing solution, which will complement its existing wellbeing provisions and will address the various financial needs of its workforce.
The solution must be simple to introduce, avoiding complex IT integration or additional administrative burdens on an already overstretched HR team.
Since hiring in the education sector is particularly competitive, the University is keen to be seen as an employer that prioritises staff wellbeing and the long-term success of its employees.
KEY CHALLENGES
- Diverse Workforce with Varied Incomes: The university employs staff with a wide range of salaries, from professors with higher earnings to maintenance workers on more modest wages. The solution must support the educational needs of all, whether it’s basic budgeting and saving, or more advanced investment and tax planning.
- Varied Ages and Financial Priorities: With staff at all stages of life, the solution must meet their varying financial priorities, whether that’s paying off student debts, supporting a growing family, or planning for retirement.
- Non-Traditional Work Hours and Roles: Whether it’s researchers, library workers or catering and hospitality, many roles have non-traditional working hours, ruling out conventional financial education support, such as workshops or live webinars.
- Large and Fragmented Workforce: Staff are dispersed across multiple locations in both desk and non-desk-based roles, creating logistical challenges for identifying staff needs, communication and fostering engagement.
SOLUTION
Partnering with WellFi the University can deliver a complete solution, without complex setup or integration, which meets the needs of its workforce.
The solution achieves the objectives and overcomes the challenges by offering:
- Breadth of content: A rich library of engaging, jargon-free video content to support the financial education needs of employees at all life-stages and income levels.
- Accessibility: Bite-sized videos and interactive tools available on all mobile devices, allowing employees to learn at their own pace at a time which suits them, wherever they are located.
- Data-Driven Insights: In-app surveys and usage reports to identify and understand employee financial needs, monitor engagement and demonstrate the program’s effectiveness.
- Enhanced Communication: In-app messaging and notifications enable HR to engage employees with targeted financial content and benefit updates – ensuring every employee is kept informed, regardless of location or work schedule.
CONCLUSION
By implementing WellFi, University A empowers its staff to take control of their finances with confidence, reducing stress and boosting overall engagement; cultivating a culture of financial literacy and reinforcing its reputation as a caring, forward-thinking employer.
