2023
2022
2021
PREVIOUS AWARD WINNERS

There is an increasing awareness among companies that their responsibility to plan participants extends beyond the implementation of a share plan. Providing adequate financial education to participants is seen as one of the key features of successful global share plans.

The award for Best in Financial Education is granted to companies who have implemented a financial education program that best meets the challenge of providing independent and objective information to employees without infringing on compliance or other regulatory constraints.

THE 2024 BEST IN FINANCIAL EDUCATION WINNER

  • DRAX GROUP PLC

    SHARESAVE MATURITY
    United Kingdom
    drax logo

    PROGRAM NAME: SHARESAVE MATURITY
    EMPLOYEES: 3,400
    COUNTRIES: 4
    PARTNERS: EQUINITI, TAPESTRY COMPLIANCE AND WEALTH AT WORK

    Over a four-year period, Drax has significantly increased participation in its Sharesave program, achieving record levels of engagement. Despite challenges such as the impact of Covid-19 on share prices, Drax saw its highest participation rates in 2020, with notable involvement from under-represented groups, particularly younger women.

    Central to Drax's success is its comprehensive financial education program, designed to help employees manage the complexities of their share options effectively. Partnering with financial wellbeing specialist WEALTH at Work, Drax implemented a series of events, online resources, and personalized guidance sessions. These efforts aimed to equip employees with the knowledge and tools needed to navigate topics such as Capital Gains Tax (CGT) and investment strategies.

    Feedback from participants highlighted the program's effectiveness, with an overwhelming majority expressing satisfaction and improved understanding. Notably, within the first month of the program's implementation, a significant portion of employees exercised their share options and mitigated CGT liabilities.

    The judges commended Drax for its proactive approach to financial education, particularly in addressing a topic often regarded as daunting - taxation. They praised Drax's meticulous planning and execution, spanning over four years, as well as its multi-faceted approach targeting all employees. Overall, Drax's initiative stands as a shining example of excellence in promoting financial literacy and empowering employees to make informed decisions about their share ownership.

MORE 2024 AWARD WINNERS

MORE BEST IN FINANCIAL EDUCATION AWARD WINNERS

  • LULULEMON ATHLETICA INC.

    Canada
    LULULEMON

    PROGRAM NAME: FUND YOUR FUTURE
    EMPLOYEES: 30,000
    COUNTRIES: 22
    PARTNERS: COMPUTERSHARE

    Lululemon's Fund Your Future program is not just any ordinary financial literacy program - it's a holistic approach to promoting well-being among employees. 

    The program provides a strong foundation in financial literacy, aiming to boost employees' confidence in their financial future, especially those in underrepresented communities. It offers comprehensive financial education, breaking down complex financial planning concepts into practical, actionable steps that employees can immediately implement. 

    Collaborating with a financial literacy content creator, the program also features micro-learning videos on social media, that include its ESPP, and a Financial Literacy Hub on the intranet site. Optional financial education sessions with Plan Administrators have proven to be helpful and informative to employees. 

    The judges found the program inclusive, using TikTok to reach out to employees and recognizing its efforts to understand its audience. The program's focus on promoting long-term financial well-being among employees, particularly those in underrepresented communities, also made it stand out and deserving of the award.

  • THE SAGE GROUP PLC

    Between 5,000 and 75,0000 employees
    United Kingdom
    SAGE

    PLAN NAME: SAVE AND SHARE PLAN
    EMPLOYEES: 11,450
    COUNTRIES: 17
    PARTNERS: COMPUTERSHARE

    Employers are starting to recognize that financial worries can have a negative impact on employees' mental and physical health and are taking steps to address this through financial wellness policies and support. Even small companies with limited budgets are getting in on the act.

    In response to this need, Sage decided to improve its existing ‘Save and Share’ plan to encourage employees to take control of their finances and participate in the plan. Feedback from employees highlighted that the reward and benefit information was difficult to navigate, so Sage made changes to its microsite, housing pay and reward, benefits, and recognition in one place and with a single sign-on.

    The equity area of the microsite was rebranded as the ‘Discover Share Plan Hub’, providing easy access to existing resources such as plan information, interactive jargon and myth busters, FAQs and employee testimonial videos. New resources were introduced to help employees participate and consider the longer-term financial implications of being a shareholder.

    Sage also introduced a modelling calculator to help employees understand the number of options they could purchase and calculate the share value and potential profit. A maturity page was also added, where staff could access their exercise choices, tax guides, and submit instructions for their maturing plans.

    The microsite's relaunch saw Sage's plan participation increase from 23% to 31%, indicating that the new educational resources had improved uptake. The judges were impressed with Sage's focus on the user experience and the educational resources that improved employees' share ownership knowledge. The resources reached all colleagues across the organization, including new joiners, and the judges commended Sage for removing the stress of participating in the plan.

  • ASSICURAZIONI GENERALI S.P.A

    Between 5,000 and 75,0000 employees
    Italy
    ASSICURAZIONI GENERALI

    PLAN NAME: WE SHARE FINANCIAL EDUCATION PROGRAM
    EMPLOYEES: 70,000
    COUNTRIES: 50
    PARTNERS: COMPETENCE; DLA PIPER; EY; GLOBAL SHARES; PWC; STUDIO LEGALE CAPPELLI RCCD

PREVIOUS AWARD WINNERS

Read our GEO Awards winner booklets for insights and inspiration from industry leaders and organizations who are pushing the boundaries of innovation and achievement.

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