Why Is It Important to Support Your People Financially

The Importance of Supporting & Fostering Financial Wellness for Your People

Financial wellness isn’t just about having a bigger bank balance – it’s also about creating a safety net for life’s unexpected twists and turns.

At Each Person, we believe fostering a savings culture among our people is essential. Here’s why:

Financial Resilience – A Foundation for Success

A financially stable workforce is a resilient one. By encouraging savings, we empower our people to deal with personal financial challenges confidently, reducing stress and boosting productivity.

In today’s fast-paced world, financial stability is not just a luxury; it’s a necessity. Life can throw unexpected expenses at any moment, and rising prices can make things even more challenging. However, with a solid savings cushion, your people can gain peace of mind, knowing they are well-prepared to handle these challenges.

That’s why we have created a one-stop shop for great savings and discounts, including lower-than-retail diesel prices, weekly top deals, 24/7 GP and cashback. By using the Each Person shop for all your needs, you could save an average of £1300 annually!

Retention and Loyalty: A Win-Win Situation

Companies that help employees achieve financial stability often have higher job satisfaction and loyalty.

When employees feel their financial wellbeing is a priority, they’re more likely to stay committed to the company’s mission and goals. Ultimately, this improves job performance and, therefore, business success!

Valuing your team is incredibly valuable; that’s why we’ve created our Ecards feature, where you can say thank you in just a few clicks. Managers can also easily attach rewards or Epoints to the Ecards, meaning your team members can get something they really want or need, like new clothing or shopping vouchers for the weekly shop.

Reduced Financial Stress – A Boost for Wellbeing

Financial stress can significantly impact your team’s mental and physical health. As a result, this can lead to reduced productivity at work, as well as decreased attendance.

By providing your employees with financial tools and knowledge, they can learn to manage their money effectively and focus on their work without the added burden of financial worry.

Attracting Top Talent: A Competitive Advantage

Companies prioritising financial wellness are more likely to retain their top talent because they have long-term financial security, but they also become more desirable as employers.

At Each Person, we have recently introduced salary sacrifice schemes that cover nursery, technology, cycle to work, and electric vehicles. These schemes are designed to help protect your employees’ pockets by reducing tax and national insurance costs and also customisable payback methods on essential aspects of their lives.

Additionally, we offer an unbeatable EAP (Employee Assistance Programme) that is confidential and provides support to your people on personal or workplace issues that affect their performance, wellbeing, mental, financial, or physical health.

Join Us on This Journey Together!

Sign up to our newsletters

Receive news and guidance on a range of HR issues direct to your inbox

This field is for validation purposes and should be left unchanged.

Prioritise your people’s financial and mental wellbeing by creating a future where every team member can look forward to a brighter and more secure financial tomorrow.

At Each Person, we offer a unique rewards and recognition platform that helps organisations genuinely and effectively engage with their teams. If you want to learn more about how we can assist you in achieving your goals, please get in touch via email at [email protected]. We’d love to chat!