Both employers and employees would consider using robo-investing options for workplace savings and investments
Not surprisingly these computer-based investment systems are more popular among younger workers. More than eight out of 10 workers, aged between 18 and 35 said they would consider robo-investing, if their employer introduced it.
This number fell among older workers, but more than half of those aged 55 or over (52 per cent) said they would consider machine based investment strategies.
The research, by Smarterly, found that employers were broadly supportive, with four out of 10 saying they thought it would be easier for employers to invest with robo-investment technology. A third of the employers surveted said their organisation would benefit from offering these systems.
Smarterly head of proposition Steve Watson says: “Employers have understandable concerns about regulation, so being able to support employees with savings and investments without getting personally involved helps them with employee engagement.
“‘Robo-investing’ uses computer algorithms to build investment portfolios, making it easier for individuals to invest. Platforms provide choice and clearly outlined options, enabling employees to make informed decisions, so the employer is enabling support, but from a distance.
Employers do not need to get involved in their employees’ savings habits – but they should provide the tools to help them manage their finances more effectively at every stage of their career.”