TIDMPGH
Personal Group Holdings PLC
08 June 2017
Personal Group offers its customers access to financial
wellbeing through partnership with Neyber and SalaryFinance
Financial worries plague one in four employees, according to
published research
8(th) June 2017 - Personal Group is partnering with Neyber and
SalaryFinance, which will allow Personal Group's clients to offer
their employees access to financial wellbeing solutions including
loans direct from salary, on-site financial education, and saving
products.
Through the initiative, employees will have access to affordable
borrowing with low APRs and manageable repayments that are taken
directly from payroll.
Wellbeing in the workplace is often synonymous with physical and
mental health; however, financial wellbeing is becoming more and
more prevalent. According to the 2017 DNA of financial wellbeing
report from Neyber, 58% of employees admitted to being mentally and
physically affected by financial worries. With 33% of employees
citing financial worries as the biggest concern, ahead of health,
relationships and work life balance. These financial problems are
not necessarily because of poor financial management, but
increasingly external factors such as the rising costs of education
and housing, depressed wages, rising childcare costs, and energy
and food prices, are taking a toll on employees across the UK.
There is a compelling business case for providing employees with
financial support. Businesses and organisations are feeling the
impact of poor financial wellbeing and the potential impact it can
have on productivity and health in the workplace. According to the
CIPD in published data released earlier this year, 1 in 4 workers
report that money worries have affected their ability to do their
job. Household debt has also reached unprecedented levels:
household debt is higher than in 2008 before the financial
crisis.
Mark Scanlon, Chief Executive at Personal Group commented:
"Offering additional support such as fairer finance schemes is a
practical way employers can improve the overall wellbeing of their
staff. This proposition is about offering practical financial
support as part of an overall benefits package. We are enabling
employers to address all aspects of their employees' wellbeing,
physical, emotional and financial through a truly holistic
wellbeing programme."
ENDS
Notes to editors
About Personal Group Holdings PLC
Personal Group Holdings Plc (AIM: PGH) is a technology enabled
employee services business, working with employers to drive
productivity though better employee engagement and a more motivated
workforce. With over 30 years' experience, the Company provides
employee benefits, serving 550 businesses, reaching over 2 million
employees across the UK.
Personal Group's offer comprises 8,000 in-house and third party
products and services, from c.60 supply lines. In-house services
include employee insurance products (hospital, convalescence plans
and death benefit) and the provision of home technology via salary
sacrifice (iPads, computers, laptops, smart phones and smart TVs).
Third party services include retail discounts, e-payslips, employee
assistance, wellbeing programmes and salary sacrifice cars and
bikes.
The offer is provided via the Company's proprietary technology
platform, Hapi. The platform is intuitive and accessible via web,
tablet and mobile app, driving better engagement, communication and
value recognition. Hapi is flexible and can quickly integrate
additional services, such as existing employee services and partner
platforms. Hapi is a SaaS product.
Through technology and select acquisitions, the Company has
grown its addressable market from 6m to 27m UK employees; including
15.6m SME employees targeted via its partnership with Sage, the
UK's largest software company.
Personal Group's innovative approach to using technology to
deliver its programmes, combined with its face-to-face method of
communicating with employees, makes its offer compelling to blue
chip clients across the UK as a way of attracting, retaining and
motivating employees.
Personal Group has a strong client base across a range of
sectors including passenger transport, healthcare, logistics and
food manufacturing. Clients include: Stagecoach, Four Seasons
Health Care, Priory Group, Spire Healthcare, Bibby, 2 Sisters Food
Group and Young's Seafood.
For further information, please see www.personalgroup.com
About Neyber
Neyber is a free financial employee benefit taking care of the
financial wellbeing of UK employees. Neyber is on-hand to help
employees build financial knowledge and resilience. Our Financial
Wellbeing Team is made up of in-house financial experts that
facilitate your employees' online and offline financial needs.
These range from 1-to-1 clinics, financial wellbeing seminars for
colleagues and management teams to podcasts, which are available on
our Wellbeing hub.
About SalaryFinance
SalaryFinance is a business with a social purpose: to improve
the lives of working people by helping them become more financially
secure. We partner with employers to create wellbeing programmes
that increase financial literacy and put employees on a clear path
from borrowing to saving. Our platform is cost and risk-free for
employers and provides access to a range of services including
affordable credit repaid direct from salary, educational content
and tools to help with budgeting and monitoring credit score.
Enquiries
Nick Lyon, Sophie Lister, Lucy Wollam on
personalgroup@hudsonsandler.com or 020 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
END
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