Getting the board on board with financial wellbeing

You want to implement a new benefit into your organisation.

You need board buy-in before you buy, but you also need to demonstrate value to support your business case.

It's a catch-22, so where do you start?

To put it simply - the employers with highest adoption of financial benefits are getting the best return on their investment.

Equally, the teams with the best benefits ROI have a halo effect in the eyes of the board.

Put the chicken before the egg. Get the board buying-in before you buy - and then engage them throughout.

The starting blocks for building your business case

1. Workforce mapping. Map your employee population so the C-Suite can understand different cohorts and different needs - for example, why junior, shift or frontline staff may have different financial needs to head office
2. Breadth. Multi-pronged initiatives get faster buy-in and drive greater inclusion
3. CEO site visits. Good for insight, good for morale, good for bridging the gap
4. Mission lock. Align benefits with the company mission. Make it feel mission-locked
5. C-Suite launch comms. Roll out new benefits with a fanfare, and top-down support
6. Storytelling. Stories of individual colleagues’ lived experiences can be just as powerful as explaining the scale of the financial stress and exclusion challenge

This topic featured on our keynote agenda for the Financial Wellbeing Forum, in October 2023. Our expert speakers and panels also covered a range of topics relating to employee engagement, workplace wellbeing, and social mobility.

We want to make financial wellbeing knowledge accessible for all employers - if you're interested in learning more about any of these discussions, let us know at [email protected] .