Company name: Entain
Population size: 24k employees
Shortlisted for Best financial wellbeing strategy
Entain set out to ensure all employees, and their unique set of financial needs, are supported with a multifaceted financial wellbeing program so that they understand what’s best for them and their personal circumstances whether they’re in office or retail roles across the business. With their strategy that took into account both retail and office workers within their business, they were shortlisted for Best Financial Wellbeing Strategy at the Financial Wellbeing Impact Awards 2023.
Entain found that one-size doesn’t fit all when it comes to engaging and support their diverse workforce. The financial wellbeing communications needed to be personalized to suit the unique circumstances of the individual. The strategy requires two different and dedicated communication teams, each with its own defined communication strategy, to support the very differentiated needs of the retail and the office populations.
Entain’s integrated financial wellbeing strategy is underpinned by personalized financial education and communicated through channels that support the campaign dialogue, and with effective targeting to engage Entain’s different employee groups. The program includes: Share save scheme - employees get a 20% discount on shares, and last year everyone received a £300 shares bonus. The ‘Warming up for winter campaign’ gave hourly-rate employees a salary increase, and everyone got a £300 voucher. The team also communicated other financial programs such as their retirement salary sacrifice and bonus exchange, lifetime and workplace savings ISAs, loans, mortgage advice, life insurance and income protection.
In terms of nudge’s financial education, the aspect of the strategy that impacts all other areas of the program, 80% of employees engage with financial education.
Personalized communication lead to: The discount platform has 81% active users with 28k transactions. Workplace savings ISA has 271 employees signed up, and the Lifetime ISA has 16 signups. 43 employees have had mortgage advice, resulting in 12 mortgages. Retirement bonus exchange had 92 employees saving £420k in tax and NI. The salary sacrifice meant 753 employees switched to save tax and NI. 1.7k employees take advantage of the 6% employer match and 11k are in the pension in total.
employees interacting with the content regularly
of employees accessing the benefit portal 14k times during the annual window
times that the WeSave’ podcast has been listened to
“We are proud of our financial wellbeing strategy, and pleased with the incredible results that are making tangible differences to employees’ lives. This is just the beginning and we are looking forward to driving the strategy further forward with nudge’s impartial financial education.”
Head of pensions and benefits