Report: Financial Well-being in the Workplace: A Way Forward
The Group was tasked by HM Treasury and the Financial Conduct Authority to consider how employers could provide better support to their employees, with respect to managing their personal finances.
- Employees need help with their financial wellbeing, and there is a clear link between wellbeing and employee productivity.
- Most employers understand the link and are willing to do more to help, but need guidance on what they can do.
- Employers can be helped to achieve this, without imposing any new burdens on them, by offering a practical resource for employers and employees.
The report recommends that the Money Advice Service delivers and implements a portal and guide to help employers support their employees’ financial wellbeing.