FINANCIAL WELLBEING IN THE WORKPLACE

Why is it so important?

Across the UK employers are searching for ways to increase productivity and improve their workforce. Wellbeing is now a vital part of ensuring you have a happy and productive team, but Financial Wellbeing is often overlooked.

You only have to look at some statistics for evidence that Financial Wellbeing is a serious issue for employees;

  • 59% of employees surveyed state that financial matters are their primary cause of stress**
  • 36% of workers report a drop in productivity of 1 hour due to financial difficulties hour (per day)***

  • 25% of employees have lost sleep over money worries*

 

And for Employers, the effect hits your bottom line;

  • 4.2 MILLION days of work were lost as a result of 500,000 private sector workers taking time off in the last year due to poor financial well-being.***
  • £626 MILLION was the total cost of ‘absenteeism’ due to poor financial well-being.***
  • £150 is the average cost to employers for each day lost due to financial distress.***

 

As an employer, you can gain more from your employees through financial wellbeing.

There’s definitely never been a better time to invest in wellbeing. As a forward-thinking employer, employees wellbeing; both physical and mental, should be high on your priority list.

For many employees, some of the uncertainty of financial stress impacting on their wellbeing can be taken away by helping them to understand and look after their personal finances. But how can you do this? 

 

Financial Wellbeing in your business

Introducing our Financial Wellbeing in the Workplace service

We can provide you with a programme to help your employees with financial wellbeing. These can form part of your long-term employee wellbeing programme.

The courses help to give you a happier, more financially secure and productive workforce for your business. As employees may not be able to attend workshops at the moment, we can also work with your organisation to implement an E-Learning capability, which can be tailored to your organisation and employees.

Our initial workshop and standard follow-up financial education materials are provided free of charge. Our charges only begin if an employee chooses to proceed with our advice service and all charges are fully explained upfront in a personalised illustration. More detail on specific charges can be found at sjp.co.uk/charges.

To talk about Financial Wellbeing in the Workplace, please Get In Touch today.

Make an Enquiry

Article sources;

* Fincap.org.uk. (2018). Money worries are the biggest cause of stress for employees in the UK. Sample 23 UK organisations, [online] Available at: https://www.fincap.org.uk/en/articles/employers [Accessed 10 Sep. 2019].

** PWC. ‘Employee Financial Wellness Survey’. (2019). 8th ed. Sample 1,686, [ebook] United States. p.18. Available at: https://www.pwc.com/us/en/private-company-services/publications/assets/pwc-2019-employee-wellness-survey.pdf [Accessed 10 Sep. 2019].

*** Aegon. ‘Financial Wellbeing in the Workplace’. (2019). Sample 2,000, [ebook] London. Available at: https://www.aegon.co.uk/content/dam/ukpaw/documents/financial-wellbeing-CEBR-condensed.pdf [Accessed 10 Sep. 2019].

financial adviser makes important phone call
Wellbeing

Our Financial Wellbeing course is provided free of charge and can be delivered fully remote.

Stuart Parker is a member of Sovereign Wealth LLP.

Find out more about Sovereign at our corporate site.

SOVEREIGN CORPORATE SITE