×
First-time login tip: If you're a REBA Member, you'll need to reset your password the first time you login.

Report: Thinking Beyond Reward

This report looks at how businesses can improve mental and physical wellbeing by helping people achieve – rather than worry about – financial goals.

Report: Thinking beyond reward 1

Key findings:

  • Stress costs UK businesses 12.5 million working days a year and financial concerns are often a major contributory factor. However, reward strategies – and government policy – are focused on long-term saving, which fails to address the financial needs of our changing society.
  • Businesses must take control of communication to provide employees with a better understanding of the value of benefits if they are to improve financial wellness.
  • There’s more to reward than pensions, and businesses seeking to address financial wellness must be open to the range of financial goals their employees may have.
  • Employers should be prepared to drop benefit structures that are neither needed nor wanted, as they will never improve an individual’s financial wellness.
  • Employers should focus on education, not just communication, and make no assumptions based on individuals’ academic achievements – most employees do not have a good grasp of financial matters.
  • If financial wellness is not improved, businesses face a crisis among employees.

JLT surveyed 2,500 employees for its research. It concludes that old reward strategies are not helping to promote financial wellness, so a new approach must be adopted.