Building financial confidence among different employee groups

Financial pressures are placing significant strain on employees across all ages, career stages and income levels.

Financial stress is widespread - and rising. Research from WTW's latest Global Benefits Attitudes Survey shows 35% of employees live paycheck to paycheck, 75% are not saving enough for retirement.

These financial pressures create a ripple effect that touches every aspect of wellbeing:

54% of employees say money worries are harming their overall wellbeing
Employees experiencing financial stress lose 1.9x more working days to absence and presenteeism
Employees are 30% less likely to buy healthy food, and 1 in 4 (25%) delay medical appointments due to cost concerns

For employers, the implications are stark. Financially stressed employees demonstrate reduced productivity, higher presenteeism and greater turnover risk. Our research also shows that organisations with mature wellbeing programmes see performance gains in financial and human capital outcomes that are two times higher than companies without effective strategies.

And yet, HR leaders recognise there is a disconnect: While employees place financial wellbeing among their top concerns, many employers report it is one of the least prioritised areas in their wellbeing programme.

How employers can strengthen financial wellbeing strategy:

1. Start with listening

HR teams should use the week to gather insights: pulse surveys, focus groups and anonymous listening tools. Understanding employee-specific financial stressors - such as childcare costs, debt, underfunded pensions or eldercare responsibilities - is essential for designing an effective programme that supports key employee demographics within an organisation.

Employers should ensure that employee feedback is coupled with quantitative data sets such as absence, turnover, benefit selections/engagement, claims and utilisation and employee demographics. This helps to target initiatives and interventions to meet employee need and address business issues to improve financial and human capital performance.

2. Make financial wellbeing visible

Consider creating an internal financial wellbeing brand or campaign identity. This could include a dedicated financial wellbeing hub, curated dashboards that link to relevant benefits, clear signposting to emergency support (EAPs, hardship funds, guidance services) or webinars and virtual drop-ins with financial coaches, mortgage consultants or financial advisers.

Support and engagement from senior stakeholders within the organisation is critical, alongside communications that are targeted and tailored to key demographics and life stage, such as student loan repayments, moving home, marriage, starting a family and retirement.

3. Promote value already hidden in benefits

Many financial wellbeing resources exist within employers' core benefits but need reframing and promoting to employees.

Health insurance and cash plans provide protection from unexpected health costs, supplementing state health care
Life assurance and critical illness offer as financial peace of mind in the event of a significant health issue or untimely death
Employee Assistance Programs typically include support with financial issues as well as traditional counselling services which can be promoted as part of a financial wellbeing programme
Cycle to work schemes or season ticket loans to help with budgeting and more cost-efficient travel to work
Discount platforms for groceries, tech and essentials, helping with saving money on every-day essentials, household insurances and larger purchases such as electrical items

Ensuring employees understand the financial relevance of these benefits can have immediate impact.

4. Focus on financial literacy and coaching

One-to-one guidance, webinars and digital learning modules help employees build practical money skills and offer value for money for employers looking to work within tight benefit budgets. Mortgage advice, budgeting support, debt management, investment education and retirement planning remain high value additions - especially for younger workers and those approaching key life transitions.

5. Equip line managers

Managers often notice stress signals first. Training them to recognise financial strain, respond empathetically and signpost to support helps create a safe environment for employees to seek help early. Initiatives such as training Money First Aiders can be a lower cost, high value way to empower line managers and support employees with their financial wellbeing across an organisation.

Building a financially resilient workforce requires long-term, strategic investment. However, that doesn't have to come at the expense of other benefit programmes or mean significant additional budgets are required to have an impact.

From our experience supporting organisations globally, the most effective programmes:

Are grounded in real employee data
Link financial wellbeing to broader wellbeing and talent strategies
Include clear goals, leadership support and strong internal branding
Maximise existing benefits before adding new ones
Offer a balance of education, tools, emergency support and long-term planning
Continuously measure impact and refine approaches

Financial wellbeing is not just about income - it is about confidence, capability and feeling in control. Employers who invest in this area report improvements in engagement, retention, productivity and workplace morale.