Why are financial benefits so critical to employee experience?

By Debra Corey, Group Reward Director 

In a report that was published just four years ago, Barclays referred to financial wellbeing as “the last taboo in the workplace” – the one area that HR professionals were still afraid to delve into when it came to their reward and benefits offerings.

But recently, we’ve seen a change in the HR world when it comes to financial benefits. It’s become clear that today’s workforce values an organisation that prioritises the financial health of its staff. In fact, according to the Barclays report:

  • 38% of employees said that they would move to a company which put financial well-being as a priority.
  • Almost 80% of employees are not satisfied with the efforts of their employer when it comes to managing their finances.

If you’re not already considering financial benefits in your overall reward scheme, it’s time to pay attention. So click here and starting doing something about it.