Axa is helping staff to manage their finances with the launch of a new website and pilot scheme giving 425 of its employees one hour off a month to review and manage their money.
It is now urging other employers to do the same with a national campaign, which will culminate with an official My Budget Day on 21 November 2007.
Axa has pledged to offer its own 12,000 UK employees an hour of its time and is asking other employers to do the same.
The initiative is supported by the Confederation of British Industry (CBI) and the union, Unite, which both believe that money worries are a prime cause of stress which impacts negatively on business.
Richard Lambert, director general of the CBI, said: “Stress-related illness accounts for almost three quarters of all workplace absence and is believed to cost UK plc around £3.7bn a year in lost productivity and healthcare costs, so anything that can be done to reduce it is to be welcomed.”
Axa’s new website offering information on managing financial matters can be accessed at www.axa.co.uk/mybudgetday