Aspen activated 819 brand new employee benefit selections

Aspen activated 819 brand new employee benefit selections

Established: 2002
Industry: Insurance
No. of employees: 1000 +

The challenge

  • Aspen had a traditional benefits scheme in place, which was largely insurance-based and offered little flexibility.
  • No new money was available to spend on benefits.
  • No financial wellness support was available to employees to guide them in making benefits
    decisions.

The solution

Aspen implemented comprehensive financial education support two months ahead of their flex window. They reinvigorated their benefits structure by introducing a health and wellbeing pot and eight new benefits, at no extra cost. Their employees were empowered through financial education to spend their wellness pot in the way that suits them.

Examples include:

  • Investing pension
  • ISA
  • ShareSave scheme
  • Paying off debt

89%

of employees engaged during flex window

x2

employees chose to receive personalized nudges

819

new benefits selections made

We undertook a full review of our employee benefit offering and realized that we could do more to support the financial wellbeing of our people. We decided to introduce comprehensive financial education support with nudge, ahead of our annual flex window to help guide our people not only in better managing their money, but also in making benefit selections that fitted their lifestyle and priorities.

Antonia Bello, International Benefits Partner, Aspen