Video tutorial: Mercer’s Jeremy Milton on linking financial strategy to the other wellbeing pillars
Although he said many organisations were focused on financial wellbeing as a specific strategy it needed to be better linked to the other pillars of wellbeing, he explained. “We are not saying that people can’t focus narrowly on getting financial wellbeing over the line or off the ground but be mindful we are only dealing with one aspect of overall wellbeing.”
He reminded delegates at the REBA FinWell Forum that there was no quick fix for financial wellbeing but that it was important to get financial wellbeing seen in the same light and same importance as physical wellbeing, where the impact and challenges are often more obvious. Milton also reminded delegates of the impact of financial wellbeing on mental health at work.
Using data to understand problems and evolve wider financial wellbeing strategies was key, he said. “This is not as well-defined as other benefit areas and well-trodden paths that we are all familiar with. Some of this is about trying stuff and if it doesn’t work not being afraid to stop that. This is all about moving that point of engagement and helping employees to be better equipped to help themselves,” he said.
This video was recorded at the REBA FinWell Forum, held in London on 7 March 2019.
