Why You Should Focus on Financial Wellbeing for Your Employee Benefits

Your business is built on the people you employ, so it’s important to keep them as happy and healthy as possible.

Because of this, there’s been a recent increase in financial well-being employee benefits, and establishing and promoting financial well-being in the workplace has advantages for employee and employer alike.

Let’s explore the financial well-being options for your staff, why they’re important, and how to implement them in your business.

Why is financial well-being an important employee benefit?

The major benefit of improving your team’s financial health is that they’ll be happier and more dynamic in the workplace.

With money being the biggest source of stress in the UK due to a worsening cost-of-living crisis, a dire pension situation, and rising inflation, sharing financial well-being techniques with your team leads to happier, healthier, more productive workers.

It’ll also boost job satisfaction, employee morale, and engagement, and inevitably, will help with staff retention. The result of this is that you won’t face the expensive overheads of finding new people and replacing strong employees.

By improving confidence, relationships with managers, and the overall mental health of your team members, financial well-being is a highly effective motivator for your staff and can help you achieve more as a business.

What kinds of financial well-being should I promote for my employees?

To help your team achieve financial security, you should focus on improving money management and reducing financial anxiety, which can in turn reduce overall stress levels.

This can be achieved through education on daily finances, saving for a deposit and buying a home, the ins and outs of insurance, long-term investments, and retirement strategies. All of these can be attained with a combination of on-site and online learning, with interactive tools becoming more and more popular in the workplace.

Seminars and educational tools are also highly effective, and you can add tangible benefits to your employee contracts such as matched pension contributions, enhanced sick pay, group life protection, salary sacrifice options, and more.

Adding these kinds of benefits means you’re putting your money where your mouth is and as a result, it helps you support your staff to achieve more financially.

Let’s talk about your employee benefits

As a trusted financial adviser with over a decade of experience to draw from, I understand the complexities of employee benefits and how to implement them.

Devising a plan that works for your business and your team, I can help you create an employee benefits programme that retains your best people, boosts confidence in your organisation, and increases productivity and efficiency.

With a personalised service built around you and your team’s objectives and pain points, let’s have a conversation about how to improve the financial well-being of your employees. To get started, drop me a message on LinkedIn or visit the link below where you can arrange a meeting, make an enquiry, or request a callback.

I look forward to hearing from you!