We at Precision Resource Group are thrilled to have joined Bristol Financial Resilience Action Group, a programme initiated by Hargreaves Lansdown which aims to make Bristol the most financially resilient city in the UK. Last month was the launch of the pilot programme which saw the other 18 signatory employers come together; we heard talks from Marvin Rees Mayor of Bristol, Chris Hill CEO of Hargreaves Lansdown as well as a series of roundtables of how we can implement core changes for our employees to improve their financial resilience.
There are 6 aspirational initiatives that the group are working towards to ensure that we fulfil our responsibility as an employer to make sure our staff thrive and are financially resilient. By joining this group, we are coming together and collaborating with other employers in Bristol to act as the catalyst for change needed to make Bristol the most financially resilient city in the UK.
This collaboration underscores our commitment to fostering financial resilience and actively addressing the ongoing challenges posed by the cost-of-living crises. Through this partnership, we aim to equip our employees with invaluable financial education resources and empower them to thrive in an ever-changing economic landscape.
The Financial Resilience Action Group presents an exceptional opportunity for PRG to further strengthen our responsibility as an employer. By providing comprehensive financial education, we seek to cultivate a workplace environment where our employees can flourish both personally and professionally. This initiative is UK-based, but the webinars hosted by Hargreaves Lansdown will undoubtedly benefit our global offices as well, as they are accessible to everyone in the company virtually.
As a proud member of the Financial Resilience Action Group, PRG ensures that every individual within our organisation gains access to a series of free webinars hosted by Hargreaves Lansdown. These webinars will take place on the first Thursday of each month at 12 pm. Each webinar will last for approximately one hour, providing ample time for in-depth exploration of important financial topics including:
- Control your debt – debt isn’t in itself a bad thing but ensuring you can use it for your benefit rather than being controlled by it is crucial. If it isn’t managed properly, it can spiral out of control, becoming a real threat to your financial security. We’ve looked at the steps you could take to keeping it manageable.
- Protect you and your family – protecting your income and any loved ones is paramount when it comes to building financial resilience. If you were to become ill or suffer an injury it can have an on-going negative effect. That’s why protection insurance is so essential. So even if something unexpected happens, you or your loved ones have some protection.
- Save a penny for a rainy day – it’s impossible to predict when things could go wrong, so it’s important to get ahead of the game by building a cash buffer for unexpected emergencies. That’s your rainy-day savings pot.
- Plan for later life – once you’ve built up your short-term financial resilience, you’ll need to start thinking about the long-term. That’s where pension planning comes in. Making sure you’re building a large enough pension pot will help you retire on your terms.
- Invest to make more of your money – investing gives you the chance to make your money work harder. Although this step might be the most exciting part, it’s the last part of building your financial resilience. Once you’ve got the other steps sorted, that’s when focusing on how investing could improve your future financial security comes in.
At PRG, we believe that financial resilience is a critical aspect of personal and professional well-being. By joining the Financial Resilience Action Group and providing our employees with access to Hargreaves Lansdown’s webinars, we aim to equip our team with the knowledge, skills, and tools necessary to navigate the challenges of the modern financial landscape confidently. We are excited about this partnership and look forward to empowering our employees to thrive, both financially and personally. Together, we can create a more financially resilient future for all.
If you’d like to find out more about the work the Financial Resilience Action group do, take a look at their website here. Or if you would like to learn more about our other initiatives at PRG, contact us here.