Gethin Nadin of Benefex on how employers can support financial wellbeing in a recession
He considered the challenges to employees' financial wellbeing as we enter the early stages of a recession following the pandemic. 'There will be old familiar, as well as brand new challenges, as we enter this recession,' he said. Gethin added that at this time employees would be turning to their employers and reward and benefits schemes for support, help and advice.
He argued that employers must now make the link between wellbeing and the benefits they offer and consider if they are providing the right benefits for employees. He said that research had found 41 per cent of employees felt their benefits package did not offer the support they needed during the pandemic. He advised that employers must now establish a strategy based on organisational and workforce needs post-Covid.
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