Kavitha Sivasubramaniam: Championing financial wellbeing at work

As our Financial Wellbeing Week, in association with Wealth at Work, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.

Many employers recognise that financial stress can have a significant impact on an individual’s mental and physical health, which, in turn, can lead to reduced employee engagement and performance. It therefore makes good business sense for organisations to invest in financial wellbeing initiatives and to ensure they have a strategy in place to support staff with any related issues.

However, some employers are failing to implement financial wellbeing strategies because they believe staff do not want or need them. Ultimately, until these strategies are on the agenda at board level and are closely monitored, any benefits paid for by employers will not be effective in helping staff with their financial issues, so it is in their interest to do so.

There are numerous ways that businesses can help staff manage their finances. From providing financial education, to offering pensions and workplace loans, research has consistently shown that employees appreciate assistance with their financial planning.

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Whatever stage you are at and however you implement strategies in your organisation, Financial Wellbeing Week was designed to help you take this to the next level through exclusive insights and opinions uncovering best practice in this area. These included:

Kavitha Sivasubramaniam
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