Monica Kalia (pictured), co-founder and director at Neyber, will present a session titled ‘The employer view on what the future of financial wellbeing looks like’ as part of the wellbeing conference stream on Wednesday 28 February 2018.
During the session, Kalia will analyse the financial wellbeing sector, looking at how strategies have progressed to help improve employee engagement and productivity, as well as discussing innovations and new strategic approaches around financial wellbeing.
Kalia will use her first-hand experience to showcase the future of financial wellbeing. She will highlight the importance of utilising an integrated, holistic approach that incorporates all components of wellbeing in order to form a cohesive wellbeing strategy rather than a siloed approach. For example, this would include aligning issues such as mental wellbeing and benefits such as an employee assistance programme (EAP) alongside financial wellbeing provisions, rather than viewing each in isolation.
The session will also highlight how employees are seeking much greater personalisation around financial wellbeing and what employers can do to accommodate this, for example, using technology and demographic research.
Kalia said: “[The session will] look forward in terms of the whole rationale around why [employers] would focus on financial wellness, which is very much around the statistics around engagement and that people who are financially stressed have a difficult time in terms of focusing on the job in hand. Therefore, it does fall on the employer to address financial wellbeing.
“What does the employer want in terms of a financial welling strategy? The financial wellbeing landscape is going to be evolving but what employers want is a real strategy and what employees want is something that is tailored to them.
“[Employers need to] understand the importance of financial wellbeing and how it can play a big part in [their] overall wellbeing and engagement strategy, so [they need to] why is it important for [their] employees? [They need to] really focus on a strategy as opposed to a quick fix because this is something [employers will] need to invest in. It needs to be a long-term commitment to improving financial wellness.”
Employee Benefits Connect 2018 will take place on Wednesday 28 February 2018 at Park Plaza, Westminster, London.