Redundancy is a difficult time for employers and employees, so it is crucial that companies take steps to help their workforce take control of their finances and help them make the most of their redundancy pay.
Redundancy is a difficult time for employers and employees, so it is crucial that companies take steps to help their workforce take control of their finances and help them make the most of their redundancy pay.
Financial wellbeing
How employees manage their money and their ability to withstand a financial shock has a direct effect on their wellbeing. Providing a financial wellbeing programme including financial education and guidance on redundancy issues will help employees feel supported.
Financial education and guidance can help ensure those affected understand:
At-retirement support
For employees facing redundancy but also approaching retirement, providing financial education and guidance is essential to understanding whether retirement is a possibility. It can help them understand:
This is supported by regulated financial advice where appropriate.
For more information on how we can help you support your employees facing redundancy, please contact us.
17th May 2022
Cryptocurrencies are rapidly gaining popularity amongst investors due to being advertised as ‘get rich quick’ investments. They have particularly increased in attractiveness since the pandemic, with many people feeling obliged to take on greater risks to compensate for the economic uncertainty and concerns caused by the rising cost of living.
11th May 2022
WEALTH at work has conducted a survey with the Pensions Management Institute to investigate the concerns Trustees have for their members in the run up to their retirement and what support provisions they have in place.
5th May 2022
WEALTH at work research has found that nearly a third of working adults worry about being unable to afford to retire when they want, and 41% know they are not saving enough for a comfortable retirement.