Financial wellbeing is more than just pay
Employee financial wellbeing is increasingly important in the quest for the healthiest, most productive workforce.
Financial wellbeing has a profound impact on your employees’ physical and mental health. By enabling them to take greater control of their finances, you empower them to be happier, healthier and more effective.
Financial wellbeing solutions allow employees to get to grips with their money. Greater financial transparency helps them do more: manage budgets, choose when to get paid, build up a rainy-day fund, and access free financial information.
More financial control helps your employees reduce stress and uncertainty which affect their engagement and productivity.
Why is employee financial wellbeing so important?
77%
of employees have experienced financial stress in the past year
45%
of these are losing sleep and feeling tired at work
54%
say money worries have reduced their productivity at work
94%
say it’s important for employers to provide financial wellbeing support
From stress to success
Organisations can significantly improve employee financial wellbeing, engagement, and productivity by providing targeted financial tools and resources.
Our survey of more than 2,500 workers in the UK and Ireland, along with insights from experts, revealed that people highly value financial education, budgeting tools, and flexible payment options.
These measures not only help colleagues manage their finances more effectively but also foster a sense of security and trust in their employers. By addressing financial stress, organisations can enhance overall employee engagement and productivity.
How to raise productivity and retention with financial wellbeing
Tune into this insightful employee financial wellbeing discussion featuring an expert panel of industry leaders in HR, workplace health, and financial wellbeing, exploring these questions:
- Why should employers take an interest in the financial wellbeing of their people?
- What happens to performance and productivity in the face of money worries?
- Is flexible pay (earned wage access) part of the solution?
- How does financial wellbeing impact engagement and retention?
How does employee financial wellbeing affect productivity and retention?
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