Pensions fears eased by communications blitz at market research firm

Two-thirds of workers at market research firm Information Resources are confident of earning their target retirement income after the company carried out a communications blitz.

The firm scrapped its online financial benefits site and brought in a more personalised approach in a bid to improve retention.

Managing director for northern Europe Jeremy McNamara wrote to every member of staff explaining the changes and encouraging staff to plan for their retirement.

Every individual was then encouraged to attend an individual meeting with a financial adviser, organised by the company.

More than 90% of employees responded to the initiative, with half saying it would influence any decision to stay at Information Resources, and 65% saying they would now be able to meet their financial retirement goals.

HR director Ros Smith said: “Since we implemented the improvements, our employees have an increased awareness of their financial and retirement options.

“The personalised, face-to-face strategy proved to be very effective in communicating the benefits and offering advice to each individual employee.”

In May, Personnel Today revealed that despite the importance of pensions to employee retention, there was a huge lack of understanding among staff about how pensions worked, and mixed feelings from employers about why they bother to offer them in the first place.

Information Resources provides retail market information to 95% of the Fortune Global 500 consumer packaged goods, healthcare and retail companies.