3 min read
Helping people navigate complexity and change
With operations spread across more than twenty countries, this global financial services firm knew its people were facing a maze of benefit rules, new acquisitions, and differing retirement schemes.
Their mission – to “create better financial futures” – wasn’t just for clients; it extended to every employee. Yet the patchwork of benefit providers and inconsistent financial education meant employees didn’t always feel confident about their finances. Leaders realized that to improve engagement and retention, they needed a single, consistent approach that would meet people where they were.
A unified approach across regions
The firm partnered with nudge to put impartial, personalized financial education at the core of its benefits strategy. A cross‑functional team and strong C‑suite sponsorship meant financial wellbeing became a strategic priority. Over 5,300 employees across 19 EMEA countries gained access to nudge’s platform, receiving education tailored to their local regulations and personal goals.
Instead of relying on emails alone, the firm blended human interaction with digital tools. They created 21 bespoke benefit guides and hosted benefit fairs in each country with attendance levels over 80%.
Networking sessions, webinars, free one‑to‑one financial planning, and a new AI‑driven AskHR tool gave employees multiple ways to ask questions and explore their options. Real‑time nudges delivered personalized reminders and education at key moments, from salary‑sacrifice enrolment windows to retirement planning events.
Innovative benefits that reflect real lives
Behind the scenes, the benefits team streamlined processes and introduced new programs. Automation meant 95% of invoices were processed without manual intervention.
Pension administration charges were scrapped across the region, life‑insurance claims were consolidated to cut processing time from seven months to one, and income‑protection redesigns saved millions.
New benefits addressed areas previously overlooked: gender‑identity support, pioneering neurodiversity assessments, menopause resources, and mental‑health early intervention.
Results that speak for themselves
The investment in education and inclusivity paid off. Benefit selections rose by 50% in two years, signaling a stronger understanding of available options.
Engagement with nudge was rapid: 80% of employees interacted with financial education within six months. Financial education reach increased by 62% year‑on‑year, and platform repeat use jumped by 25%.
Operationally, 75% reductions in benefit query wait times and a dramatic fall in medical provider waiting times (from two hours to ten seconds) improved the employee experience.
The changes also delivered significant savings: annual refunds of roughly $200,000 via multinational pooling, a $300,000 reduction in life‑insurance costs, a $2.5 million drop in income‑protection costs, and almost £1 million saved in National Insurance via bonus‑sacrifice initiatives.
Looking ahead
What started as a regional project has inspired conversations about extending financial education to 22,000 employees worldwide.
By weaving nudge’s personalized education into a suite of improved benefits, this financial services firm has shown that financial wellbeing isn’t a side project; it’s a catalyst for engagement, retention, and long‑term business resilience.
Get in touch if you want to learn more about how to build better futures through financial wellbeing.