Case Studies
2 min read

Helping the hospitality industry increase margins by serving their employees

The hospitality industry has been put under many pressures since the pandemic. Inflation has squeezed margins on overheads and customer's disposable income. With eurikah's workplace pension, hospitality companies are supporting their employees financial futures, enabling their staff to focus on taking care of their clients and in return protecting and strengthening margins.
+
34
%

Employee Engagement

More engaged employees can lead to an increase in productivity and a decrease in staff turnover
+
300
%

Pension Performance

In the first 12 months, the eurikah pension significantly outperformed the client's previous scheme
+
500
%

Voluntary Contribution

Employees were motivated to contribute more to their pension, as they saw the rewards of better performance
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Written by
Chris Gawne
Published on
17 January 2024

Introduction

A leading UK-based hospitality company operating multiple restaurant locations faced a common challenge: low employee engagement mixed with high staff turnover, resulting in an increase in recruitment, training and operating costs, impacting margins in a notoriously lean industry.  Recognising the need to address these issues, the company sought a solution that would boost employee morale through and made a strategic decision to enhance benefits for its workforce.

The ask

The company partnered with eurikah to switch pension scheme. With our digital platform and internal account team, we managed the switch efficiently and seamlessly' ensuring minimal disruption to our client's daily operations. We conducted onsite workshops across more than 10 client sites, raising awareness and engaging employees on the benefits of the new pension scheme.

"People are the fundamental element of any hospitality value proposition; it's the service that people remember the most and why our valued clientele continue coming back year after year. Taking care of our people helps our people take care of our business."

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Conclusion

After a 10-week implementation period, the results were already transformative.

Employee engagement surged by an impressive 34%, indicating a significant trend in improvement to morale and commitment.

The pension scheme's performance skyrocketed by nearly 300%, demonstrating its effectiveness in securing long-term retirement saving for employees.Voluntary contributions surged by over 500%, showcasing employees' increased interest and participation in their retirement planning.

One of the most notable outcomes was the positive shift in employees' perception of their retirement saving. Employees reported feeling more secure and spending less time worrying about their financial futures. Managers observed an increase in productivity, alongside a reduction in absenteeism.

The successful partnership between our hospitality client and eurikah not only elevated employee engagement but also laid a strong foundation for long-term business performance. "People are the fundamental element of any hospitality business; it's the service everyone remembers the most and why our valued clientele continue coming back year after year. Taking care of our people, helps our people take care of our business." We believe this is a great example that underscores the pivotal role of strategic benefits like workplace pensions in fostering a positive work environment and driving organisational success.

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Frequently Asked Questions

Everything you need to know about the eurikah workplace pension.
Is the eurikah pension safe?
In short, yes! We're set up, administered and regulated like any other pension scheme in the UK.

The eurikah pension scheme is administered by Astute Finanical Management (UK)Ltd, who are authorised and regulated by the Financial Conduct Authority.

Our scheme is also protected by the Financial Services Compensation Scheme.

Clients monies are held in segregated accounts via Tier 1 UK banks and client assets are also held in trust.

This is designed to ensure that should anything unforeseen happen, your cash, assets and financial future are never at risk.
Can i open a GIA, ISA or SIPP and invest in the eurikah portfolios?
Yes. If you're an individual investor interested in taking advantage of eurikah portfolios, please get in touch here.
What are the fees involved?
Each scheme is priced individually, depending on a range of requirements. If you'd like to discuss your specific needs please don't hesitate to get in touch here.
Are you auto-enrolment compliant?
Yes. You can select your contribution basis (by qualifying earnings of by certification), set up a pay reference period, even set a postponement period if required.

Our team of pension experts are on hand to help you get set up and running quickly, automate cyclical re-enrolment and manage any opt-outs.
Can we offer the eurikah pension alongside our existing scheme?
Absolutely. Setting up a scheme to run alongside your existing provider is quick and easy, we'll even come onsite or attend team meetings online to raise awareness of the eurikah pension and its potential benefits, to your employees.

It's then up to your employees if they want to opt-out of your current scheme and into eurikah. We can then integrate into your systems to make running the scheme simple, easy and fast.

Get in touch today and we can support you getting started!
Do you support additional tax-efficient savings, like Workplace ISAs?
Yes! We can offer a range of tax efficient investment wrappers that can be harnessed to further support employee financial prosperity, if you'd like to know more about setting up a Workplace ISA or any other supporting schemes, please get in touch here.
Is eurikah available as a 401(k) or to other non-UK based companies?
Yes, the eurikah pension scheme can be adminsitiered globally. If you would like to offer the eurikah pension to employees outside of the UK, please get in touch here.
Do you offer salary sacrifice?
Yes! we offer both contributions using salary sacrifice or contributions via net pay
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