Green and ethical benefits – the next chapter
Back in May 2018 we hosted our first round-table discussion on ‘green and ethical’ employee benefits. What happened next? There was a great appetite to take things further, so we came together again in September to move the agenda forward.
Another lively discussion took place among organisations really committed to developing their green and ethical benefit credentials.
The conversation re-capped on the key themes from last time:
- giving employees choice by making green and ethical products available
- making choice simple and straightforward
- educating employees about what they are choosing.
Product demonstrations
This time we saw what green and ethical benefits might look like in practice. We were joined by an employee benefits provider who demonstrated a product which encourages healthy behaviours, while giving employees discounts on various ethical products and services.
We were also shown a product which allows employers to create a customised portfolio of green and ethical retailers for an online shopping portal.
Savings products
When it comes to ethical savings products, the definition of ‘ethical’ needs to include the concept of social responsibility.
Recent government proposals on the responsibilities of pension fund trustees are a step in the right direction. These environmental, social and governance (ESG) proposals aim to make the credentials of savings funds much more transparent for consumers.
However, although response to the consultation was very positive among providers and members of the public, there are few actual products (funds) available that meet ‘ethical’ criteria. So the next challenge for the industry as a whole is to find an achievable route to market.
Next steps
The next time our group meets, we expect to hear from a major financial services provider about the sustainable savings solutions they currently offer.
We’ll also delve deeper into the principles of responsible investment with some independent views from industry professionals.
Want to join us?
One thing is clear – every member of our group is committed to making a difference to their employee benefit offering. Our group wants to align their benefits with their organisational values, while continuing to give employees a great experience.
Do you want to join the green and ethical benefits debate? Please contact us to find out more.
About PES
Delivering a great employee experience is a challenge for growing organisations. At PES, it’s what we do. Our online employee benefits platform, HR support and workplace wellbeing services bring out the best in your employees – enabling your business to thrive.
Call us on 01454 808658, email us at hello@wearepes.co.uk or fill in our enquiry form.
