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Inside Retail & Rest Industry Super

Onboarding: the hidden edge in the fight for talent

(Source: Bigstock.)

There’s no shortage of media commentary about the staffing challenges employers are facing this year. 

The fight for talent is a trend backed by a recent research report released by PwC Australia, The Future of Work, What Workers Want: Winning the War for Talent, based on a survey of 1800 Australian workers last year. The report revealed that more than one in three employees surveyed are planning to leave their jobs sometime during the coming year.

That poses big challenges for companies – and for their human resources teams in particular. Given how competitive the current job market is, it’s crucial to ensure your new starters have an engaging onboarding process. Getting it right can validate a new starter’s decision to join, getting it wrong can risk the time and investment involved in bringing the talent on board.

Industry super fund Rest is helping employers with their onboarding. Rest has launched an onboarding web page with a dedicated employer toolkit, that includes the fund’s recent Onboarding insights report, a Choice of Fund Form, a step-by-step guide to setting up super and other supportive material. 

Onboarding and the role of employers in super education

In April last year, Rest interviewed 30 new members from across Australia to learn more about their experiences and expectations in relation to onboarding.

One of the interesting findings was that younger workers – particularly those in their first jobs – often turn to their employers for education and guidance about their super. This trend is likely to increase with the removal of the $450 superannuation minimum threshold on July 1, when many young workers will become eligible for Superannuation Guarantee (SG) contributions for the first time. 

Rest’s digital education and advice solutions

Rest offers a series of educational sessions regarding super and retirement, to support members through various stages of their career – from their first part-time job to retirement. Run by the company’s team of Education Managers, the sessions are delivered both digitally and in the workplace. Topics include super basics, retirement planning and strategies to help women plan for a better retirement. 

Rest members can also take advantage of digital advice tools, which can help them make more informed investment choices and understand concepts that can make a real difference to their retirement. 

Education leads to action and better super outcomes

Employers considering partnering with Rest as their super partner – or those with an existing client looking to improve the support they offer their employees on super – are encouraged to reach out to the team to learn more about Rest’s digital education and advice solutions. The business connections team can be contacted via businessconnections@rest.com.au

Alternatively, Rest’s Tools and Advice page offers more information online.

* The insights and findings contained in this article are based on research undertaken in April 2021 by Rest in partnership with research and insights company Kantar. The research interviewed 30 members from across Australia who had joined Rest in the preceding three months, the majority of whom were in the 18-20-year-old age group. This information might not be current as of May 2022. Neither Rest nor Kantor accepts any liability arising directly or indirectly from any use and/or reliance on the information contained in this article and disclaim all liability to the maximum extent permitted by law.

This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant PDS and Target Market Determination which are available at rest.com.au. Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 240003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394 (Fund).

The cost of providing financial services is included in the fees as disclosed in the relevant PDS. Rest and the Fund do not charge additional fees or obtain commissions for the advice provided. Rest employees are paid a salary and do not receive commissions. They may receive a performance-related bonus that takes into account the financial services provided.  Super Investment Management Pty Limited, a wholly-owned company of Rest, manages some of the Fund’s investments. Rest has no other relationships or associations with any related body corporate or product issuer that might reasonably be expected to influence Rest in providing financial services. For more information, contact us at rest.com.au/contact-us

Rest Advice is provided by Link Advice Pty Ltd ABN 36 105 811 836, AFSL 258145 (Link Advice). Rest Advisers are staff members of Rest and provide advice as authorised representatives of Link Advice. Rest Digital Advice is provided by Link Advice. Rest Advice may be accessed by members without incurring additional fees for simple advice. An advice fee may be payable for complex advice. You should read the Rest Advice Financial Services Guide, which you can obtain by calling us on 1300 300 778, before accessing these services.