Home Retail Group news
Employees offered financial advice
08 July 2008
Home Retail Group has teamed up with the Financial Services Authority (FSA), the UK's independent financial watchdog, to provide financial education to all of its staff to help them make the most of their money.
Presentations have been held across nine distribution centres as well as the head offices in Milton Keynes and Wallington, and over 1100 employees have already attended. In addition, all Argos and Homebase stores have received free booklets and CDROMS called ‘’Making the most of your money’’ and HMRC leaflets providing information on working tax credits.
The presentations cover: taking control of money; borrowing; protection; savings and investments; retirement and Home Retail Group’s own benefit and reward package. Tips include: how spending an hour a month looking at your finances could save over £1500 per year; how to get up-to-date details on credit ratings; and finding the best mortgage deals, savings rates and much more.
The FSA is independent and wholly impartial and its aim is to encourage employees to take positive action to improve their individual financial position. The presentations, booklets and CDROMS all aim to signpost and direct individuals to help them make the most of their money.
FSA Regional Manager Chris May said “Financially stable staff are more productive at work, take less time off sick and are likely to stay with a company longer. The response to the presentations within the Home Retail Group has been extremely positive and this has been a very worthwhile exercise’’.
The FSA is currently working with over 300 major employers. Feedback to date is that 86% of those attending say they are going away to take action, and within three months 60% has turned intention into action. Home Retail Group feedback so far is even better, with over 95% of attendees indicating they are going away to take action.
Home Retail Group’s Benefits Manager, Debbie Cam, said “With the current financial challenges that we all face every day, there is no better time for us to provide colleagues with financial education to enable them to better review their finances.’’
One employee, Kim Mulligan, said “I found the presentation extremely useful and over the past few days have spent time looking into the details of my finances. I think what I liked most about it was that it did not matter if you had lots of money or very little, all the subjects that were covered were relevant to everyone.”
