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.
6th December 2023
Workplace benefits and savings are more vital than ever as the number of employers offering pay rises, in line or above inflation, is set to reduce.
5th December 2023
Employers are viewing the ageing workforce as increasingly important, according to the new Financial Wellbeing Research 2023[1] from the Reward & Employee Benefits Association (REBA) in association with WEALTH at work.
17th November 2023
Our event ‘Financial wellbeing …a new phenomenon or not?’ took place at the Shangri La, The Shard, London on 14 November 2023.