According to WEALTH at work research, a substantial proportion of employees have significant financial worries.
Indeed, the research found that 32% 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 the mortgage and 22% were concerned about their current level of debt.
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.
Jonathan Watts-Lay, Director, WEALTH at work joined WSB in a webinar to discuss these issues. The webinar looked at the tools and support employers can provide to employees who are struggling. It 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 financial resilience and take control of their finances.
If you would like to speak to us to discuss how best to combat financial wellbeing in the workplace, please contact us.