Financial Well-being

The concept of financial well-being, described as: ‘Being and feeling financially healthy and secure, today and for the future’ and considers why talking about money and personal finances has long been seen as a taboo subject, particularly in the workplace.

Why should financial wellbeing be on an employer’s agenda?

20% of employees think their financial situation affects their work – lost productivity impacts the bottom line by 4%

38% of employees said that they would move to a company which put financial wellbeing as a priority

Discretionary effort at work is five times lower for those with low financial wellbeing and five times lower for those who are dissatisfied with employer’s efforts to help them manage finances

However, 60% of employers do aspire to a future where they will have some offerings in place to help employees plan and manage their financial situation.

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17 May 2017

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