Crisis makes workers more financially conscious Jan 14, 2021

Shot of a cheerful female bartender receiving a card as payment from a customer inside of a restaurant

After the chaotic events of 2020, it’s evident that many Australians have become more financially conscious – particularly those in the hospitality industry.

A recent survey by the comparison service Compare the Market found that accommodation and hospitality workers scored 51 out of 100 in its Financial Consciousness Index*.

According to Compare the Market, a score of 51 places them in a financially conscious category – one step above those who find finances a bit of a blue. It shows that workers in the hospitality industry have become more conscious of their financial position – they understand the role they in determining their financial outcomes and are willing to improve their financial position.

Statistics from the Australian Bureau of Statistics mirror the findings. Recent falls in retail turnover demonstrate that most consumers are prioritising saving money over spending it^. 

At Intrust Super, we’d like to do everything we can to support hospitality workers who are keen to make financial improvements.

To help with this, we’ve been rolling out a new service program to our members and their employers to address these needs.

The Service Program is designed to help staff maximise their financial health while integrating seamlessly into their workplaces. Our Relationship Managers will work with each individual business to tailor a program that best suits the needs of large or small businesses. 

The program consists of multiple components and is fully customisable. These components include our “Super Pop-up” financial wellness program, lunchroom “Super Kiosks”, “Super Made to Order” sessions for kitchen staff and one-on-one “Super Health Checks”.

For any staff looking for further assistance in improving their finances, Intrust Super offers financial advice through our financial advice team, Intrust360°. Members can also access free financial advice through our online advice service, Super Blueprint#.

This article and the services provided are intended as general information only. If you’d like to find out more about how our Service Program can help your staff become more financially savvy, you can contact your local Relationship Manager or email service@intrust.com.au.

*Source: Compare the Market’s Financial Consciousness Index, 2020
^Australian Bureau of Statistics, Retail turnover down 1.1% in September, November 2020
#This financial advice tool is provided by Link Advice Pty Ltd (AFSL No 258 145) and is available to Intrust Super members.

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