How to combat employee financial worries in the workplace to improve resilience
Indeed, the research found that 32% of respondent employees were concerned about being unable to retire when they wanted to, with the same proportion worried about not having enough savings set aside for unexpected costs. Some 27% were worried about being unable to manage household bills and expenses, including their mortgage, and 22% were concerned about their current level of debt. All of this has an impact on employees’ mental health and resilience.
Yet, while many people do have very real financial worries, part of the battle is finding the help and support needed in tackling these issues.
In this webinar, Jonathan Watts-Lay, director at WEALTH at work, joined WSB to consider the tools and support employers can provide to employees who are struggling financially. They also looked at how financial education can be delivered via the workplace, and how it can help individuals understand the basic principles of money management; including how to set budgets, manage finances and debt, and how to build a personal savings plan for unexpected costs or to reach future goals.
It also uncovered how a broader financial wellbeing programme – including workshops, helplines and digital tools, can help employees improve their resilience and take control of their finances.
This article is provided by WEALTH at work.
Supplied by REBA Associate Member, WEALTH at work
WEALTH at work is a leading financial wellbeing and retirement specialist - helping those in the workplace to improve their financial future.
