We’ve come a long way from when superannuation was something mandated by the government, dolled out by employers and set-and-forgotten by Australians. This mentality permeated until the recent Royal Commission exposed some of the shady practices of the financial services industry and prompted the masses to take a peek under the bonnet.
As a response to this desire for financial literacy, transparency and choice, super funds are now much more visible in the public domain, and this includes the workplace. It makes sense that funds would want to add value to their membership base at their place of work, because this is where Australians are most likely to be considering their finances. Hosting events, seminars, offering free financial advice are a few of the activities on offer. At the same time, they are responding to other issues such as the Super Gender Pay Gap, a desire for Socially Responsible Investment options and tackling the complexity of the sector.
With this comes the all important peace of mind. By running these programs in the workplace a business can help alleviate the financial stress of their employees, and a happy workforce is a more productive one.
Working with First State Super we recently designed a Curriculum for their B2B customers, so a workplace can efficiently execute financial literacy campaigns. We even developed a suite of white-label campaigns so the workplaces can run them under their own brand, generating goodwill within their workforce and demonstrating genuine care.
In an industry where it’s difficult to differentiate the product, the added benefits, services and opportunities can make the decision for a default super. By demonstrating the value of education, choice and advice, super funds will become an invaluable (and necessary) resource to workplaces looking to give their employees confidence in their future.
Find out more about our work with First State Super here