Why financial wellbeing is crucial to building a sustainable workforce

Employees may ask for financial support to cover many different scenarios. Employers need to be able to identify financial resilience when it matters most.

For an employee worried about covering a bill before payday, a workplace savings scheme may feel like a distant priority. Someone else might be managing day-to-day costs comfortably but have no idea whether they are saving enough for an emergency. Both need financial support, but not necessarily the same kind.

This is why financial resilience matters to employers building a sustainable workforce. Employees need practical support with today's pressures, alongside opportunities to build financial confidence and security for the future. Treating these as separate challenges risks missing what people actually need.

Start with what employees are experiencing

Research carried out by Hastee with the Centre for Personal Financial Wellbeing (CPFW) discovered that 52% said the cost of living was their biggest financial pressure, 70% were struggling to keep up with bills and commitments, and only 26% could cover an unexpected £300 expense.

These results are not representative of the UK workforce as a whole: the survey focused on people already using financial wellbeing support. Even so, they are a useful reminder that long-term financial planning is difficult when there is little room in the monthly budget.

Make support useful now and for the future

Pay timing is one practical place to start. Earned wage access (EWA) lets employees draw on part of their wages before their regular payday, without taking out a loan. In the survey, 67% said they felt more in control of their money and the same proportion reported less stress between pay cycles.

But more control over pay is not the whole answer. Making existing income stretch further matters too, particularly when pay rises are constrained. Everyday discounts can help with purchases people already make. Hastee's Boost Your Pay, for example, offers discounted gift cards across more than 250 brands, including options for routine shopping. For reward teams, that provides a way to add value without necessarily increasing the salary bill.

There is also support people may be missing altogether. Some employees are eligible for government benefits or financial assistance they do not know about. Helping them check what they can claim can be as relevant to their finances as introducing another workplace benefit.

Looking further ahead, financial education and a financial health check can help people understand where they stand, spot gaps and make informed choices. Workplace savings options can make it easier to put aside small, regular amounts. None of these tools is a complete solution on its own; their value comes from meeting different needs at different moments.

What this means for workforce sustainability

The employer case goes beyond offering a more attractive benefits package. In the CPFW survey, 64% said they were more likely to stay with an employer that offered flexible pay.

Among EWA users, 48% reported taking extra shifts or overtime because they had greater control over when they received their earnings. These are self-reported experiences, not evidence that offering EWA directly causes higher retention or productivity.

A follow-up study involving 18 participants raised another point that benefit design alone cannot solve: stigma. Some people found earned pay access reassuring but felt uncomfortable admitting they used it. Employers therefore need to think not only about what they offer, but how they talk about it. Clear, non-judgemental communication can help employees use support without feeling singled out.

Financial wellbeing benefits cannot replace fair pay. Nor will one product suit everyone. But supporting employees through today's pressures while helping them plan and save for tomorrow is a practical way to build financial resilience. For employers, that matters to workforce sustainability: people are better placed to stay, contribute and plan ahead when financial support meets their changing needs.