Workplace Pension Clinics – Ink achieves a Net Promoter Score of 9.46/10!

Workplace Pension Clinics – Ink achieves a Net Promoter Score of 9.46/10!

At Ink we have always been passionate about operating at member level to connect with individuals and improve their understanding and engagement with Workplace Pensions.

It is our strongly held view that employers who invest in the promotion of their schemes, especially when they have generous employer contributions, reap rewards through improved retention and productivity.

First things first:

We start with a simple question – “Can I afford to maintain my current standard of living in retirement?” We help members piece together their pension history, and project their pension futures to answer this question.

It’s a tough gig I have to say, 99 times out of 100 the answer is “No”.

Helping people come to terms with the fact that they are often way behind the curve in terms of being on target for retirement living standards is the first step. Helping them work out what to do about it is the next step.

Resolution:

Having established the baseline situation, where are we now, we help members understand what their Target Income should be (usually somewhere between 50% and 66% of current salary) and what the % of salary contribution needs to be to reach that target.

It’s often a shocking revelation for people, but in almost all circumstances members value the fact that someone has:

  • Told them straight
  • Used plain English
  • Used numbers they can relate to
  • Given them a plan

Don’t just take our word for it!

Over the last 12 months Ink has been conducting short member surveys focusing on Net Promoter Score ratings. As a reminder, you ask a simple question along the lines of “How likely are you to recommend an Ink pension 1:1 to a colleague”, members then answer on a scale of 0-10.

  • Scores of 0-6 are Detractors – i.e. they would actively discourage people from meeting with Ink
  • Scores of 7-8 are Passive – i.e. they would have no strong opinion either way
  • Scores of 9-10 are Promoters – i.e. they would recommend Ink to colleague.

Over 12 months, and 146 respondents, our Net Promoter Score was 9.46!

Further reading:

Building on this, we have published a White Paper called Investing in Pensions; Investing in People that tackles the detail behind these scores and explores the link between investment in employee engagement around Workplace Pensions and employee satisfaction and productivity. Why not check it out by clicking here?

To speak to Ink about Workplace Pensions contact Billy Johnson on 01858 810200 or email at William.johnson@theinkgroup.co.uk

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