Financial wellbeing in the workplace
The mental health and physical wellbeing of employees have been topics high on the agenda for many employers for some time.
Increasingly, there’s a third consideration which many of you are taking into account when thinking about your employees' needs – and that's their financial wellbeing.
What do we mean by financial wellbeing?
When we talk about financial wellbeing, we’re really talking about people’s control over their finances, their ability to respond to financial unpredictability and unexpected financial expense, and their ability to meet financial goals and make choices that allow them to enjoy life.
We’ve set out to quantify some of the issues associated with financial wellbeing and how it varies across the country, between different age groups and industry sectors. Based on this information we want to provide you with actionable insights on the ways in which you can support your employees to engage with their finances.
Our partnership with the Centre for Economics and Business Research (CEBR)
We’ve partnered with CEBR to try and quantify some of the issues associated with financial wellbeing. In particular, we wanted to look at the average financial wellbeing score across a range of industries, and also the impact of poor financial wellbeing on productivity in the workplace.
We hope that you’ll find this report to be a useful resource for you when considering the challenges that your employees are facing, but also the support and benefits that they’re looking for.