More young people could remain auto-enrolled if they saw it as a sign they had a future and career with the company, Paul Avis has suggested.
The marketing director of the Canada Life Group said that employers could use auto-enrolment to help dismiss younger workers’ fears that their career paths would be blocked by older employees.
He said auto-enrolment could be promoted as the perfect opportunity for organisations to review their whole benefits offering, adding that many protection products could be brought in at a relatively low cost.
Mr Avis said: “As smaller companies reach their staging date, all employers should be considering whether their benefits package supports a happy and productive workforce.
“Younger employees are clearly concerned that an older workforce will make the jobs market more static, preventing them from progressing in their careers.”
Adviser view:
Georgina Partridge, founding partner and head of marketing at London-based Plutus Wealth Management, said: “I agree with Canada Life, in that setting up auto-enrolment lends itself to the employer engaging in conversation with younger employees.
“Many will not have been involved in financial planning before and this will be a sign that the employer is taking a longer-term view of their career.”
