Financial wellbeing has been rising up the corporate agenda in recent years. Since financial worries can stop employees performing at their best, how can employers help their people make healthy financial choices and habits?
Our report gives a detailed breakdown of why employers should be offering financial wellbeing, and action points to consider as part of your strategy. These insights could be repurposed to form a business case for investment in a financial wellbeing programme at your company.
The COVID-19 crisis is putting extra pressure on employees’ finances. Helping employees to manage their money should form part of a suite of wellbeing services, designed to ensure that workforces remain healthy and productive even in challenging circumstances.
What’s also clear is that financial wellbeing is not just about how much workers earn, but about the level of control they feel they have over their finances, irrespective of pay and grade. Employers are facing increased pressure to help their employees take good financial decisions, make the most of their earnings, and feel more in control of their money.
As employee engagement specialists, Personal Group have a particular interest in employees’ financial health and wellbeing, due to the strong link between these factors and overall happiness and productivity at work.
Our Financial Wellbeing Services
Recent studies show that almost 15% of households in the UK are struggling to make ends meet. Financial wellbeing is moving further up the agenda as research shows strong links between money problems, wellbeing and happiness. This means offering your employees access to fair finance, offers, and financial support is more important now than ever before. We provide employers with the means to offer their people life-changing services like:
- Discounts and savings – available from a wide range of major retailers
- Healthcare cash plans
- Interest-free loans for new technology – employees can save money on important gadgets such as laptops and phones
- Fair-deal insurance – support employees by giving them access to the best deals to help them in a crisis, such as in the case of an unexpected illness or loss of a family member
- Debt advice – help employees reduce the stress and worry around debts with straightforward advice on how to navigate a route forward