Member Article

Kraft Heinz enhances employee rewards package with workplace savings

Food giant, Kraft Heinz, has selected Cushon to provide workplace savings to its employees as part of its reward and benefits package for its 1,400 UK based staff.

Financial wellbeing is a key focus for Kraft Heinz where the average age of employees based in its London office is between 28-35 years old. The introduction of Cushon’s workplace savings allows employees to take more control of their financial wellbeing. They have the ability to put money aside each month deducted directly from pay to save towards the things that are important to them – a deposit for a first home, starting a family, furthering education or, building up a rainy day fund to make sure they’re resilient to life’s unexpected events.

With the events of 2020, many individuals have woken up to the importance of having a financial buffer to cover them should the unexpected happen. Cushon’s savings and investment platform allows employers to enhance the financial wellbeing of their workforce by providing them with an easy and accessible way to save and invest for life’s milestones from as little as £10 per month. By allowing employees to make contributions directly through payroll, Kraft Heinz are making the process of saving and investing easy and accessible for everyone.

The Kraft Heinz workplace savings roll out follows a recent employee survey which found that the introduction of a workplace savings scheme would be widely popular amongst staff. Workplace savings allow employees to take better control of their finances, using an ISA to save for the short- to mid-term future with the flexibility to think about their long-term financial goals alongside a pension.

Steve Sexauer, Payroll & Benefits Manager for Northern Europe Kraft Heinz, said: “Our employee wellbeing programme has been developed with our people at the very heart of it. We have been working hard at increasing our engagement rates and thanks to the bespoke benefit packages we offer we are keeping the needs and ambitions of our employees in mind.

“When we asked our people what they wanted as part of their rewards package, many said access to workplace savings. Cushon’s offering fitted in seamlessly with our existing offering – their platform is designed to give all employees the tools they need to manage and stay in control of their financial wellbeing. This has never been as important as it is now.”

Steve Watson, head of proposition, Cushon, said: “Providing a workplace savings initiative allows Kraft Heinz to cater to the varying needs of a diverse workforce. Whether employees are saving for retirement, or looking to get a foot on the ladder, this is something that everyone can really get on board with. Employee wellbeing is at the heart of every rewards agenda right now and being able to help and support staff with the financial aspect of this is incredibly important and results in a more engaged and motivated team.”

This was posted in Bdaily's Members' News section by Lianne Robinson .