YBS Share Plans (“YBSSP”), part of Yorkshire Building Society, recently commissioned research for the second time in five years with leading academics Professor Andrew Pendleton, of Durham University Business School, and Professor Andrew Robinson, of Leeds University Business School. The research is supported by YBSSP’S own Customer Insight Surveys.
Key findings from the Research:
- Participant savings contributions to Sharesave continue to rise
- Sharesave is still attractive to those on lower income with 25% of participants saving £60 per month or less
- For many, Sharesave provides a savings lifeline with 35% of participants only saving regularly into their Sharesave account.
- For many the alternative to Sharesave contributions is expenditure with 65% of those saving only into Sharesave saying they would spend the money rather than invest elsewhere if Sharesave didn’t exist
“With over 45% Sharesave market share, YBSSP have a meaningful sample size from which to draw our analysis. This insight enables us to continually feedback to our corporate clients to ensure that plan designs and overall remuneration strategies are aligned with the wishes of their employees,” added Louise.
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