Tesco helps staff to manage personal finances
David Woods, 03 November 2008
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Tesco is launching a drive to help employees manage their finances and is introducing annual benefits reports to staff.
The retailer will provide its 280,000 staff with the Financial Services Authority's guide to personal finance in what is believed to be the largest initiative of this kind in the UK.
The guides give staff facts about how to get help in all of the core financial areas - budgeting, borrowing, saving and retirement planning.
In addition, the company will inform staff of their individual total remuneration.
Tesco has also run trial financial education seminars with staff and plans to roll them out to distribution centres.
Hayley Tatum, director of personnel at Tesco UK Stores and Distribution, said: "Tesco is undertaking these initiatives because we are very keen to support out people every way we can. Good money management can make a real difference to people's lives.
"We are proud to offer an excellent range of benefits to all staff, including a defined benefit pension scheme and a range of share save schemes. But we wanted to ensure we are doing all we can to encourage staff to take up all the benefits available to them and, by linking with the FSA, to ensure they have access to information about how best to manage their finances.
"We think this is something that all employers should consider doing for their staff."
[image provided courtesy of Tesco]
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