Smart Money – May/June 2026

Employee benefits have become an increasingly important part of the world of work. For employers, they can play a role in attracting and retaining people, supporting employee wellbeing and creating a positive workplace culture. For employees, the right benefits can provide valuable support alongside their salary. From pensions and private medical insurance to flexible working, wellbeing support and company perks, there are many different types of employee benefits to consider. What are employee benefits? Employee benefits are the additional rewards, support and services an employee receives from their employer alongside their salary. They can include benefits that are required by law, as well as additional workplace benefits that an employer chooses to offer. Some employee benefits are provided to everyone, while others may be available depending on factors such as role, seniority or length of service. Employee benefits can take many forms, including financial, health, wellbeing and lifestyle benefits. The right combination can form part of a wider employee benefits package designed to support people at different stages of their working lives. Why are employee benefits important? Salary remains a fundamentally important part of an employment package, but is not the only factor people consider when choosing where to work. A well-designed benefits package can provide support in areas that matter to employees both inside and outside of work. This could include helping people save for retirement, access healthcare, manage their finances or balance work with their personal lives. There are also benefits to working for an organisation that takes a thoughtful approach to employee benefits. For employers, a strong benefits offering can help to demonstrate they value their people and understand the different priorities employees may have. So the advantages of employee benefits can extend beyond individual perks, contributing to employee engagement, wellbeing, recruitment and retention, as well as the overall employment experience. What are the different types of employee benefits? The right mix of benefits will depend on the needs of the workforce, the organisation and its objectives. The best-known types are: Pension scheme Workplace pensions are one of the most established, if not the original employee benefit. Employers are required to meet certain workplace pension obligations but some organisations choose to offer benefits above and beyond the minimum requirements. This could include enhanced employer contributions – the company pays more in to a pension - or

Why workplace financial wellbeing needs more than fintech By Darren Laverty, Financial Wellbeing Strategist at Secondsight and author of Make Their Money Count Employers now have access to a wide range of financial wellbeing technology.  From an employee benefits perspective, fintech has become essential in the workplace. Benefits platforms, pension apps, savings tools, financial education portals and robo-advice solutions have become commonplace. These resources aim to improve employees' financial decision-making, making it more accessible and engaging. However, despite the availability of many tools, employers often report low employee engagement and can find it challenging to demonstrate sustained behavioural change. For HR and reward professionals, this raises an important question. If the technology keeps improving, why aren't employee financial outcomes improving at the same pace? Why access doesn't always lead to action Workplace fintech is designed to improve access to information, simplify decision-making and support healthier financial habits. When used effectively, these tools can reduce barriers and empower employees to manage their finances proactively. However, many solutions assume that employees are already motivated, understand the importance of financial planning, and feel confident in taking that first step. Research from the

Employee benefits have become an increasingly important part of the world of work. For employers, they can play a role in attracting and retaining people, supporting employee wellbeing and creating a positive workplace culture. For employees, the right benefits can provide valuable support alongside their salary. From pensions and private medical insurance to flexible working, wellbeing support and company perks, there are many different types of employee benefits to consider. What are employee benefits? Employee benefits are the additional rewards, support and services an employee receives from their employer alongside their salary. They can include benefits that are required by law, as well as additional workplace benefits that an employer chooses to offer. Some employee benefits are provided to everyone, while others may be available depending on factors such as role, seniority or length of service. Employee benefits can take many forms, including financial, health, wellbeing and lifestyle benefits. The right combination can form part of a wider employee benefits package designed to support people at different stages of their working lives. Why are employee benefits important? Salary remains a fundamentally important part of an employment package, but is not the only factor people consider when choosing where to work. A well-designed benefits package can provide support in areas that matter to employees both inside and outside of work. This could include helping people save for retirement, access healthcare, manage their finances or balance work with their personal lives. There are also benefits to working for an organisation that takes a thoughtful approach to employee benefits. For employers, a strong benefits offering can help to demonstrate they value their people and understand the different priorities employees may have. So the advantages of employee benefits can extend beyond individual perks, contributing to employee engagement, wellbeing, recruitment and retention, as well as the overall employment experience. What are the different types of employee benefits? The right mix of benefits will depend on the needs of the workforce, the organisation and its objectives. The best-known types are: Pension scheme Workplace pensions are one of the most established, if not the original employee benefit. Employers are required to meet certain workplace pension obligations but some organisations choose to offer benefits above and beyond the minimum requirements. This could include enhanced employer contributions – the company pays more in to a pension - or

Why workplace financial wellbeing needs more than fintech By Darren Laverty, Financial Wellbeing Strategist at Secondsight and author of Make Their Money Count Employers now have access to a wide range of financial wellbeing technology.  From an employee benefits perspective, fintech has become essential in the workplace. Benefits platforms, pension apps, savings tools, financial education portals and robo-advice solutions have become commonplace. These resources aim to improve employees' financial decision-making, making it more accessible and engaging. However, despite the availability of many tools, employers often report low employee engagement and can find it challenging to demonstrate sustained behavioural change. For HR and reward professionals, this raises an important question. If the technology keeps improving, why aren't employee financial outcomes improving at the same pace? Why access doesn't always lead to action Workplace fintech is designed to improve access to information, simplify decision-making and support healthier financial habits. When used effectively, these tools can reduce barriers and empower employees to manage their finances proactively. However, many solutions assume that employees are already motivated, understand the importance of financial planning, and feel confident in taking that first step. Research from the