Financial Wellbeing

Employers must urgently break down social taboos around workplace money talk and encourage their employees to share their financial concerns with their colleagues.

The COLC is causing more financial stress for female employees, with 48% of them experiencing 'very' or 'somewhat' stress compared to less than 1/3 of male employees.

The Financial Wellbeing Impact Awards 2023 have announced their winners across eight categories, recognizing organizations for their outstanding contributions to employee financial health and education. Winners include Canada Life, AVC Wise, Kyndryl, and Accenture, alongside highly commended organizations from diverse industries demonstrating the growing commitment to workplace financial wellbeing.

Financial stability has become an essential component of overall health and wellbeing. It can affect people's mental and physical health and significantly impact performance and concentration levels in the workplace.

83% of finance workers have considered changing jobs due to the impact of work on their mental health, with nearly half of those taking the plunge.

Seven in 10 (72%) UK employees admit out-of-pocket work expenses are impacting their personal finances, while six in 10 (61%) feel anxious as a result of having to cover business spend. 

Its time your financial wellbeing program united your people. This guide will help create an inclusive community where no one is left behind.

Employers, advisers & insurers need to appreciate the impact to all pillars of health and wellbeing when people are in financial difficulty.

Recent research has revealed that 74% of employers aren’t providing any training to their line managers to handle redundancies.

Employers need to carry out due diligence before the decision is made to send an employee abroad to protect both the employee and employer.