National Numeracy Day encourages us all to think about how we use and understand numbers in our daily lives. So, how does this impact your share plan communications?
Clear explanations of share plans are crucial for employees who aren’t comfortable with numbers because these plans often involve complex financial concepts like stock prices, vesting schedules, and taxation. Without clear, simple communication, employees may feel overwhelmed or confused, leading to disengagement or even mistrust of the share plan.
Number crunching
By breaking down the key details into easy-to-understand language, using visuals like charts or infographics, and avoiding jargon, you can ensure all employees feel confident about participating. Clear explanations also help employees recognise the real value of the share plan, how it impacts their financial future, and how it aligns with their role in your company’s success.
Here are some ways you can connect with your employees:
- Avoid the curse of knowledge. Don’t assume that everyone is financial savvy and will understand the complexities of share plans and total reward. Spend time understanding your colleagues, and tailor your share plan communications so no one is left behind.
- Keep your audience informed. Make sure your employees are aware of financial information that may impact them, such as new or updated legislations.
- Encourage financial wellbeing. Consider financial conversations as being part of your overall wellbeing strategy. Your employees will benefit from this education, and you could see an increase in share plan engagement.
Get in touch if you’d like our help to elevate your internal communications.
