4 Ways Businesses Can Support Employee Financial Well-being Today

Financial wellness is crucial for productivity, engagement, and job satisfaction, and even a small change can yield substantial benefits. As a business leader, you have the power to make an impact on your employees’ financial well-being, and we’re going to help you do it.

This UK Savings Week, we’re giving businesses five effective strategies you can implement today to better support your employees’ financial health:

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1. Encourage Employees to Track Their Expenses

One of the easiest ways to support your team is by promoting the importance of tracking their expenses. Providing access to budgeting tools or apps can help employees manage their money more effectively. You could even host financial literacy workshops to empower your team with knowledge about personal finance management, from daily spending habits to long-term financial planning.

Pro Tip:

Bringing financial coaches into the office can cost thousands, but Plane Saver offers financial education resources and guidance for free. We help employees build their financial awareness without adding extra costs to your business.

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2. Help Employees Build an Emergency Fund Through Payroll Savings

Financial security is essential for your employees’ peace of mind, especially when unexpected expenses arise. One of the most effective ways businesses can support this is by offering a ?payroll savings scheme. By allowing employees to automatically direct a portion of their salary into a savings account, you can help them build an emergency fund without the hassle of manual transfers. This simple, hands-off approach encourages consistent savings and ensures employees are better prepared for financial surprises.

Why It Works:

Automation via payroll makes it easier for employees to save regularly without having to think about it, helping them establish financial resilience over time.

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3. Install Employee Discounts to Boost Their Spending Power

Providing employee discounts is one of the simplest and most effective ways to increase your team’s financial well-being. By offering savings on essential everyday expenses—such as groceries, travel, and shopping—you can help your employees stretch their salary further. Discounts not only reduce financial stress but also improve overall job satisfaction and morale.

Action Step:

Take the time to install an employee discount program and regularly promote these benefits. Make sure your team knows about the savings they can access, whether through company newsletters, intranet portals, or even onboarding presentations. A well-promoted discount program ensures employees get the most value.

Pro Tip:

Our company offers an employee discount program FREE to employers, with employees only paying ￡10 a year. The average user can save over ￡1,000 annually on everything from supermarkets to holidays, both online and in-store. It’s a low-cost, high-impact way to support your employees’ financial wellness.

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4. Train an Employee to Be a "Financial First Aider"

One innovative way to support your employees' financial well-being is by training a designated "Financial First Aider" within your organisation. This person can offer initial support and guidance to colleagues who may be struggling with financial issues, helping to reduce stress and foster a supportive work environment. By providing practical financial guidance, a financial first aider ensures employees have access to immediate help and resources when needed, which can improve overall workplace morale and productivity.

Pro Tip:

We’d recommend ‘The Money Course’ with Crosslight Advice charity, who offer online training for just ￡25 per person to equip employees with the skills needed to become financial first aiders. It’s a cost-effective way to build a supportive financial wellness culture within your organisation.

This UK Savings Week, take the opportunity to make?a meaningful difference in your employees’ financial well-being. Whether you choose to implement a single strategy or a combination of these approaches, your efforts will help create a more supportive and financially resilient workplace. Start with one action today and see how it transforms your team's financial health and overall job satisfaction.