Small firms might find they eventually offer their employees support with financial planning, a new survey suggests.
Research by financial consulting firm Watson Wyatt shows that 73 per cent of UK companies want to offer financial education and planning assistance to staff members.
Over half (58 per cent) of respondents stated this is because they fear that many people might not have a sufficient income when they retire due to poor financial choices.
Garry Smith, a senior consultant at Watson Wyatt, explained that this desire to ensure people plan for the future is not "old-fashioned paternalism", but rather good business sense.
He said: "If significant numbers of people cannot afford to retire because of poor financial planning, this is likely to create significant workforce management problems in terms of productivity, succession planning and talent management."
The research also found that 70 per cent of employers want to improve the perception staff members have of the reward and benefits package they receive.
Recently, a survey by Aon revealed that that 98 per cent of workers underestimate the amount their firm spends on an employee's benefits package.
