What Do Your Employees Know About Their Retirement?

riverside_tim_& kelsey_beyond_the paycheck === Hi everyone, and welcome to Beyond the Paycheck, where we bring you candid conversations with CHROs and people leaders who are rethinking how compensation and benefits impact far more than just employee bank accounts. From the first paycheck to financial wellness programs, we explore how money shapes identity, equity, purpose, and power at work, and how forward-thinking companies are using pay and perks to transform lives. This podcast is presented by Aura Finance, a psychology-based financial wellness employee benefit that combines coaching and financial management.

Now, let's get started and jump in with our next guest. Welcome, Tim Goodchild, Director of International Benefits at Take-Two Interactive. We're so excited to have you this Monday morning. To kick us off, I'd love for you to share a little bit about yourself, your career and background, and where you're calling in from today.

Oh, great-great to meet you, Kelsey. Great to be here, and thank you again for the invite, uh, for the session today. So yeah, so as you said, my name's Tim Goodchild. I'm currently Director International Benefits at Take-Two.

Uh, Take-Two is a video game company, and perhaps not so well known is that we're, Take-Two being the parent company. But we have four key labels under our remit, of which one is Rockstar makers of GTA and, uh, Red Dead Redemption. We've got 2K Zynga, and also Ghost Story Games as well. My background, I've worked in HR for nearly 20 years.

Um, but I predominantly worked across media technology companies the likes of AOL, uh, the BBC, The Telegraph. Um, more recently, the last six years I was at a company called Anaplan. Um, and yeah, I started at Take-Two in the summer of, uh, 2025. Well, I already can't wait, ~as I had mentioned to you before we ~~started our ~~conversation, to, uh, rub our conversation in the face of my husband that absolutely loves all of the work that you do and is deeply obsessed, particularly with Red Dead Redemption.

~ So I'm super, super excited for this conversation today. Uh, but before we dive into, all the amazing work that you do and digging deeper into the workforce itself, I wanna get to know you personally a little bit better. So I'd love for you to tell us, what's your earliest memory of money? Um, I've actually got a couple that come to mind, uh, if that's okay.

So the first one was, was when I was, when I was about 9 or 10, I think, you know, we used to get pocket money each week. I think that was about £2, which I think is probably about $2.50, I think, in, in US money. And I realized quite early on that I enjoyed saving money.

Um, and I realized I could buy something big instead of just sort of throwing it away on a, on a comic book or what have you. So I saved throughout the ages, and I think for well over a year, and I ended up buying a 14-inch TV which was in the shape of a motor racing helmet, uh, which I think I've still got it. My... I think it's in my parents' loft somewhere.

But, uh, I realized that, you know, you could get some really good reward from some con- some conservative saving from an early age, which I, uh, I really sort of saw the benefit of. And then the other thing which really comes to mind, which I vividly remember, was I wanted a bank account from an earliest age. I was fascinated by banks and what they did, and, uh, I joined a bank, uh, called Midland Bank. They were acquired by HSBC, I think, in the early '90s.

Um, and to this day, I still vividly remember the pack- Everything came in and really exciting. It just felt really premium. And I think compared to today's age of, uh, digital apps and so forth, having something actually physical, having your first bank statement, all those sorts of things, I think was really... It just sparked my fascination for finance I love that you mention that because, you know, when, when I ask a lot of people this question, it's, you know, this purchase of food.

Because when we're... Or, or, you know, this little thing, it sounds like you're a deeply analytical person, and that might have been inspired at an early age by being interested in, in the numbers themselves and has led to, you know, where you're at today. Absolutely. Do you remember your first official job and what you spent your first paycheck on?

Probably, well, I work in Take-Two now, video games. My first, I'm not really sure whether it's a proper job, but for me at the time it was a great job. I actually worked for, um, now a rival of Take-Two, uh, Electronic Arts. Um, and I was actually a games tester for- Cool ...

um, straight out of university. I think my mom actually found me this job ad in the local newspaper. Um, think it would just be about three months or so I could get some money together. But it actually ended up being there, I ended up being there about five years.

So it, it turned out to be a great sort of headstart into, into my career. But yeah, in terms of my first paycheck it was not a lot of money. I think back then, uh, I think my salary back then was, wasn't even 10,000 pounds a year. Oh.

Uh, so my first payslip was probably 900 pounds, if that. But hey, we've got to start somewhere, and I lo- I loved the fact that I was working in a, in a company with very like-minded people. I was a little bit shy and timid as a kid, so working with people where we all sort of thought the same, it kind of just gave me that confidence to really sort of set the path for the journey that I've been on and where I am today. So I, uh, I wouldn't change it for the world, even though it was pittance at the age of 22.

Super cool. And do you remember what you spent that first 900 pounds on? Probably petrol. Yep.

To get to- Totally makes sense ... to get to the job, you know, I think, uh, where was- Exactly ... yeah, I know. I think probably, um, a, end-of-week pint and a, and petrol for the Monday morning commute to work, or...

Love it. And it's funny, now in the world of Twitch we're paid, multiple millions of dollars to play and test games in front of people. So it's- Yeah, totally ... an interesting time that we've found ourselves in today.

Absolutely. How do you think your money story has impacted how you think about pay and benefits on behalf of your employees? So I think people's relationship with money sort of changes massively, really depending on where they are in life. Sometimes, you know, or- organizations underestimate that.

So I think earlier in your career- Or honestly, anytime money feels tight you naturally focus much more on the here and now. Can I pay my bills? Can I afford the lifestyle I want? What, what actually lands in my bank account at the end of the month?

And I think that, that sort of stage, uh, uh, things that create stability and help with day-to-day financial wellbeing tend to matter the most. And as I, as, as, as we kind of get older, uh, and perhaps earn more, uh, then that mind shifts, shifts a little bit more towards sort of longer term thinking. So whether it's, like, saving for a house supporting a family, retirement, uh, investment, that sort of thing. And I feel, right, for workplace benefits that can generally become quite life-changing because, uh, people build financial security in ways that they may not otherwise prioritize or, or really sort of fully understand.

So for me, good pay, benefit strategy isn't really about offering the same thing to everyone. It's about sort of recognizing that people experience money different depending on their life stage and what those priorities and pressures are. And can you tell me a little bit about the breakdown of the workforce? You know, what are you noticing in terms of trends and priorities, or does it kind of run the gamut?

So it d- it does, it does differ. I mean, I think when, when we look at companies like, say, T- Take-Two, for example, uh, there are you know, we have a relatively young workforce, so that sort of focus on what, what people really want is, uh, very different from, say, my previous company, uh, Anaplan, where it was a much older workforce, so that's very much around retirement and planning and saving for the future. So really to understanding what those trends are and what people want that really sort of resonates with their, where they are in life, I think is where it re- really is very important to look at.

Where do you think compensation and benefits break down most often today? Honestly, it's about visibility, I think, and understanding. Um, I think, you know, we, o- over the years of, of all the jobs I've had with them in benefits, you know, it's very common that companies will provide some really sort of tremendous benefit offerings. Um, but employees generally don't understand what they've actually got let alone how to use it properly.

And I think the reality is that most people were never really taught the basics particularly when you look at, like, pensions. I mean, to this day, I still get people that will come to me, usually quite sheepish, you know, they're in their 50s or so, and they realize that they're staring retirement down their, down in their eyes. And They haven't been sort of prepared for it. So I think, you know, we need to focus a lot more on that education piece, and I think a lot of employees today are kind of looking to their employer to, to provide that level of, of, uh, education.

And I think the other thing is that, you know, when we look at the overall total reward package I think people focus heavily on the things that they actually see, that they can feel on a, on a monthly basis, and that is the s- the salary, right? Um, I think when you then sort of break down what makes up total rewards, you know, whether that's the bonus, it's your equity, it is your pension, healthcare as well. I think when you start really sort of understanding the differences of what benefits you get from one company to another is really key.

And I think people just often just, just pass over really understanding what the, uh, the crux of, of, of particular benefits that they get from one company to another. I'd be remiss if I didn't ask, have you tried gamification, uh, as a gaming company to help kind of boost the understanding of, of total rewards? We have not. Um, but, you know, that's, it's a very, it's, it's an interesting concept.

I've seen some insurance companies, uh, particularly in, in medical insurance, um, um, link, say, fitness gamification to potentially reduce your premium, for example, which I think is, uh, is great. But it can be quite not particularly inclusive at times. Not everybody's an athlete, right? And I think that's, you can get yourself into a bit of a dangerous situation where you start excluding people, um, if, if you're not that way inclined, right?

So I think it's, uh, it's an interesting concept, and I think there's always ways which you can incentivize people to, to utilize benefits or gen-generate better habits in their lives in terms of financial wellbeing particularly. However, I think the full-blown gamification of benefits is, uh, is an interesting field. Um, something I'd love to see a solution on, but maybe not just yet. Yeah.

I'm partially kidding, but I'm also partially not. 'Cause when I think about, how do we get people from a consumer perspective to do certain things, you know, it takes on average about seven communications for a message to actually land. And I'm hearing the problem you're describing come up so, so, so many times. And so, how do we really get that message through, whether it's, something that is fun?

The reality is people like fun things to do. Mm-hmm. People like confetti. Um- Yeah And I think for so many folks the solution for so long has been total reward statements, which don't necessarily fill that box of fun to get people to engage in them.

So it, it's, um, uh... But you also have to be careful. Not everyone wants to do a- Yeah ... 10,000 step challenge daily, you know?

No. So you're- Exactly ... you're totally right. It's this balance of how does it actually still work for everyone while- Yeah ...

you know, boosting, uh, the knowledge of, total rewards packages. Yeah, totally. So, uh, I'm kind of curious about specific benefits or initiatives that you've personally seen enacted at either this company or prior employers that you've seen go from just attracting talent to transforming the lives of employees. Could be a specific benefit.

It could be a concept. I'm really curious. Yeah, I, I... Yeah, a- absolutely.

And I think whilst we hear about wellbeing bounced around quite a lot, I think financial wellbeing is probably the biggest shift I've seen. Like I've, I've been... Not sure whether this might sound controversial or not, but I feel like the most important pillar of, uh, wellbeing is financial. A lot - Not to dismiss mental health, but I've always been a bit of a believer that, you know, if your financial wellbeing is in check, your mental health will generally be in check as well.

So, you know, I think when I first started in HR sort of benefits generally were often treated as perks or nice to haves, right? Things that often helped attract talent or made an employer look, look quite competitive. But I think increasingly we've now seen the employers, again, playing a really important role in the overalls of financial wellbeing and long-term security, you know. So I think I've already mentioned around sort of pension support, retirement planning, even understanding legislative changes.

I mean, even in the UK, for example, our government will do a budget, uh, every sort of usually around autumn time, Christmas time. And It will have direct impact in terms of how we lead our lives, for example. And I think as a business, we now help educate our employees to make sure that they understand what the impacts of those things are. Again, in the UK, you know, particularly with some tax efficient benefits, there's, you know, electric vehicle schemes or cycle to work schemes, which can really emphasize the being more efficient with, with taxation, I think is, is great too, so you can get more income, but better, better returns.

And then you look at more broader fields, you know, sort of life stage support, family support. I think our generation Um, is gonna, is the first generation where you're gonna be looking after kids at the same time as looking after your parents. And I think there's a shift at the moment around eldercare in the workplace. You know, how can we provide insights to power of attorney conversations, and, uh, will writing for yourself and your family, and just making sure that we're setting up the family unit properly, um, through better financial education.

So, I think the role of the employer has evolved a lot mostly, um, and it's not just about paying people well, it's about helping guide and support employees, again, through that different stage of life. It's interesting that you bring up eldercare because it's also quite related to financial, and caregiving can be deeply expensive. Um, so you're, you're totally right that it, it hits pretty much every pillar of wellbeing: physical, mental and more. I'm curious and, and I wanna just poke a little bit on this.

This question might sound a bit redundant, but why does financial wellbeing matter to you? Is there a specific ROI that you're looking for? Is there something culturally going on at the company that makes it matter? I don't think necessarily relevant to the company that I work for now, but I think generally we are - we live in a world, particularly at the moment, and certainly dominates certainly the Western world in terms of our headlines, is the cost of living.

And it, it drives every conversation. I mean, um, some of our, some countries have, uh, exposure to inflations through the roof. Um, you know, we're talking about, you know... We think, like you say, the UK, the US sort of sees, you know, upwards of 5%, 10% inflation over the last few years since post-COVID, but other countries of the world, it's 40%, 45%.

You know, so understanding what that is and what the impact of that is on your own personal life and your f-the family unit and how you grow. And obviously, again, you look to your employer. No one really wants to leave a job just for money. You know, you don't...

That's not a motivator to move on, but it is important. So, I think financial wellbeing, how to be, how to be successful, how to be sound with the money that you have is, it drives everything. It means that you can have the life that you aspire to have or aspire to want, and how you can really sort of progress through that I think is, is, is key. So, financial wellbeing and better education is vital.

Really appreciate you sharing that with us. And you're totally right. It's a part of every conversation these days, and people feel like- Yeah ... they're drowning.

People feel like they can't live like their parents' generation, but they wanna find a path to that. They wanna find a path to what does rich mean to me. Yeah. So it's really interesting in, in why that matters to you, and you're completely right.

It, it touches so many parts of people's lives. Um, and a part of that is, you know, as employers, we are the lifeblood. A paycheck allows people to do, you know, achieve their dreams, take care of their sick parent- Yeah or, uh- Absolutely What compensation and benefits trends do you think are gonna shape the employee experience most over the next year? Maybe not over the next year, but, um, certainly if I, we can stretch that a little bit more to the next few years, I think you'll say those two letters that people are already rolling their eyes at, and that's A and I.

Um, I think, uh, I see it... it's interesting, you know, um, we talk about benefits technology a lot in terms of how that's fundamental into how we sort of communicate our benefits, for example. But, uh, I think, you know, when you look at how AI is already impacting our lives you know, so every morning I ask Alexa, you know, "What's the weather today?" Or something, tells me.

Or I might ask ChatGPT about, you know, "Give me some analysis on my finances," or what have you. I think we're gonna get to a point, and I can see it very quickly, that we're not gonna be asking AI, AI is gonna be telling us what we need to know in terms of our benefits and so forth. And I, and I think I can see that coming into the workplace. I can see an AI, whatever the f- the platform is, someone's had a conversation with an employee, and they've said, I need my pensions to be X and Y.

I need my I need to get will writing sorted out. I need to get my power of attorney." And if we're not prepared or we're not ready or have the platform of benefits in place to be able to enable that, we're gonna s- have a challenge in the workplace big time to, to scramble and get things in place. So we're, so we're preparing it, certainly at Take-Two, we're preparing already for how to be better prepared in terms of technology to meet the sort of AI demand as it, as it's coming, and we just wanna be there ready for it.

Can you share any of the things that you're doing that our listeners- ... can be aware of? ~Well, dunno about- I, I mean- ... dunno about that- ...

'cause, uh, employees don't know yet. So, uh, but I think, again, it's really about the, the, the concept of, and as this is, this is not a new, a new, a new, a new model, but, uh, um-~ Better voluntary and flexible benefits. Better- And I think whilst that is, whilst that is commonplace in the UK and the US and other pockets around the world like Singapore, other countries have never really had this sort of concept before. And I think, and again, it goes back to what I was saying right at the beginning around life staging of benefits.

You know, we want to be able to provide a suite of wonderful benefit sets, even if they're funded by the employee, but they are at a discounted rate because, say, as you get more volume of scale and so forth. But, uh, I think be able to create a customized benefit package that meets the needs of the individual according to their lifestyle, life stage, I think is the is the dream goal. Uh, and, uh, and making it readily available and accessible year-round, not necessarily just at one single renewal point of the year.

Yeah, you know, when I think about the AI and what it's done to transform so many, things has been this kind of pushed toward personalization. Yeah. I think marketing has already done a pretty brilliant job at personalization. I open up Instagram, and there's the dress that I've been thinking about in my mind- ...

but haven't been able to think about what I need to do to Google it. It's already finding those answers for me. Exactly. And when I think, when we think about how that could be translated to, to pay and benefits, it's just so obvious that that's, that's coming.

Absolutely. Absolutely. So Tim, thank you so, so much for being a part of this conversation. I, I learned so much from you.

I, I could certainly keep this conversation going for far longer, but I'll be, uh, I'll keep us on time and make sure to give you yours back. Where can our listeners connect with you beyond this conversation? Absolutely. Yeah.

I'm readily available on, on LinkedIn. I'm quite, uh, quite active on there. So do- Great ... do seek me out and, uh, and look forward to the conversation.

Fabulous. Well, thank you so much again for joining us, and, uh, look forward to that next conversation where we can dig even deeper into AI. Sounds good to me. Bye-bye.

Cheers. Thank you for joining us on Beyond the Paycheck, presented by Aura Finance. If you enjoyed this conversation, be sure to follow Beyond the Paycheck wherever you get your podcasts. Beyond the Paycheck is brought to you by Aura Finance, the personal finance platform helping employees build confidence, security, and freedom with their money.

See how Aura Finance is redefining financial well-being at aurafinance. I'm Kelsey Wheelock.