Samsung inspired 88% of employees to utilize employee benefit allowance

Samsung inspired 88% of employees to utilize employee benefit allowance

Established: 1969
Industry: Technology
No. of employees: 10,000 +

The challenge

Despite Samsung having an award-winning reward strategy, it was missing a financial wellness element. There was no mechanism for communicating benefits at life events and key trigger points when employees would be most receptive. Employee feedback highlighted that people wanted support to make active decisions about their finances.

The solution

Samsung embedded personalized financial education with flex scheme ‘highlights’. nudge sits at the center of the benefits hub promoting relevant benefits in line with employees’ life events. An annual calendar of benefits communication was implemented in line with key strategic themes. Samsung use nudgenomics insight to track the impact of campaigns and make data-driven decisions key strategic themes.

The top two interests selected by employees ‘savings’, & ‘mortgages’ supported the business case for the introduction of corporate ISA & mortgage clinics.

“We love the way nudge personalizes education according to the employee’s age, gender, salary and benefit choices. It integrates with our flex system and delivers engaging education driven by changes in circumstances or legislation.”

Samsung

94%

Annual flex window engagement

88%

Of employees make use of all benefit allowance

95%

Of employees active pension members