Workplace Saving ReviewMarch 2011
The Workplace Investing & Savings study is an extensive piece of work looking at the attitudes of employees working across a broad range of the top 350 listed companies in the UK.
The aim of the study is to better understand what role the workplace has in shaping and facilitating attitudes towards saving and investing across different industries.
With auto enrolment now a certainty and NEST set to play a big part in the process, CoreData Research has opted to consider the opinions of those working in the largest publicly listed companies in the country.
The rationale behind this is that the auto-enrolment obligations of employers will be a tiered and staggered process – starting with the biggest firms and filtering down to smaller companies over a four to five year period. And also due to the fact that its impact will resonate more in the private sector than in the public sector arena.
Why listed companies?
From an employee (flexible) benefits perspective, we believe listed companies have the broadest range of tools and options at their disposal – initiatives such as Employee (or Executive) Share Plans (ESPs) and Saving Investing Plans – through which to engage and potentially influence employees from a savings and investment perspective.
A view of employee savings and investment attitudes across 18 industry sectors, which are:
- Oil & Gas
- Construction & Materials
- Industrial Goods & Services
- Automobiles & Parts
- Food & Beverage
- Personal & Household Goods
- Health Care
- Travel & Leisure
- Financial Services
- Real Estate
The research also considers the likely role to be played by each of the following in people’s saving plans:
- Self-Invested Personal Pensions (SIPP)
- Private Pensions
- Occupational Pension Schemes
- State Pensions
- Investments held outside a pension (shares, bonds, cash, gold, etc.)
- Primary place of residence
- Other property investments
Insight into Employee Share Plan (ESP) participation and the role they play within broader savings and pension behaviour.
Levels of comfort employees have with investing in different types of products.
Attitudinal assessment of individuals towards saving and financial matters, such as levels of financial security, post-retirement money worries, future financial planning and levels of difficulty in making decisions on money related matters.Back