Nudge Global

We are a workplace Financial Education specialist who are improving the Financial Wellbeing of employees & their families. Our proprietary technology delivers independent, personalised & predictive Financial Education which helps employees make smarter decisions about their reward package & personal finances. Meanwhile, we aggregate employee engagement data so that our clients can better understand their employees' needs to help shape the future reward strategy. What are the advantages of us providing Financial Education? There are lots of reasons - some generic & some exclusive to working with us: Improve Wellbeing: For the 1 in 4 employees who are suffering some form of financial distress, often unknown to you, their employer, Financial Education helps improve their understanding, confidence & organisation of their finances which over time means less distractions at work so improved productivity & general business performance. Workforce Planning: The majority of working people are not on track to receive the retirement income they require to be able to retire when they or their employers expect them to. A proactive Financial Education programme will provide the nudges people need to make life-changing decisions early enough in their lives to make a difference. Boosting National Insurance Savings: A Legal client recently used Nudge to promote their pension salary sacrifice & bonus sacrifice programmes and saw a £28,000 saving as a result. Better Communicate the Reward Package (EXCLUSIVE): By building an existing reward and benefit package into the Financial Education syllabus, 90% of our clients agree that Nudge helps their people better understand their company benefits. We call this 'Reward Alignment'. Reduce Insurance Costs: Approximately a third of medical & disability insurance claims are attributed to stress with research suggesting that 41% of these are linked to financial stress. Improved understanding & organisation as a result of Financial Education reduces stress which in turn reduces the associated insurance claims & costs. A recent case study saw a whopping 21.6% saving on insurance as a result of Financial Education. Better Understand Employee Needs (EXCLUSIVE): By tracking your people's engagement with the Financial Education programme, we're able to provide unique insight as to their needs, interests & priorities. Our clients use this data & insight to help shape their future reward strategy. Filling the Advice Gap: As a result of the Retail Distribution Review, the number of people who use a financial adviser has fallen by 30% & for many of these people, Financial Education can fill this gap. How does Financial Education work alongside Flex? With Financial Education helping people understand products, it's strange to think how flex even works without Financial Education! Here at Nudge, we have always said that Financial Education should be dovetailed with the reward package - we call this 'Reward Alignment'. This is the ongoing process that our clients use to ensure that Financial Education (i) promotes their reward & benefits, (ii) helps employees make smarter decisions about their reward & benefits and (iii) provides aggregated engagement data to help shape future reward strategy. Flex is transactional so typically has a surge of activity once a year. Meanwhile, Financial Education engages throughout the year. How is Nudge different? Traditionally, the business model for Financial Education has been on the distribution of products. Our approach is different. We are 100% focused on education & giving your people the confidence, context & clarity they need to make the right decisions themselves rather than what they are sold. Furthermore we are using cutting-edge technology & behavioural psychology to drive financial education for the majority rather than minority. Our average scheme engagement is 72%. How do Nudge support ongoing pension change? With an independent knowledge based approach, the Pension Freedoms & changes to Annual & Personal Allowances provide an excellent opportunity to engage your people with their pensions, their wider benefits & personal finances. 'In the moment' education from Nudge means your people get personalised information, support & guidance to understand the change itself, what it means for them and any actions they need to take. How does the nudge solution work? We use a combination of data tracking, technology & behavioural psychology to deliver highly personalised Financial Education 'in the moment' - exactly when people need it. This tells employees what they need to know before they know they need to know it.