The recession we now find ourselves in affects individuals, businesses and entire industries across the country. It might sound cliche, but money really does influence every part of our lives. Positive financial well-being can help employees to thrive, not only in the workplace, but in their personal lives too.
It’s important that your financial well-being strategy is tailored to support all members of staff. This includes those from different age groups, as different groups of people will have different needs and desires. For example, as employees reach their 30s, they may opt for childcare vouchers or car lease schemes. Older employees over the age of 50 are more likely to be concerned with later life, meaning they’ll be more likely to choose schemes such as private medical insurance and health cash plans.
Offering benefits as part of your financial well-being strategy is a great way to let your employees know you’ve got their back if things go wrong, but financial well-being is never one-size-fits-all.
Find out more about implementing a strong financial well-being strategy to meet the needs of your workforce.
