Employees' financial health has changed dramatically.
We were already dealing with a debt crisis in the UK - the pandemic has forced an additional 4.2 million people into the red. Financial health has become a pandemic in itself.
It's not just for those in debt, 35% of people have taken a pay cut during covid-19. Regardless of employment or personal circumstances, we should all prepare for a reduction in household incomes whilst we reinvigorate the economy.
The undeniable link between wellbeing and productivity
Employees with money worries are seven times more likely to have lower productivity or not finish their daily tasks than their colleagues.
The one thing that's for sure, if your finances are sound and you feel in control of your money, you feel in control of your life. That's why financial wellbeing is the key to people’s wellbeing.
Not sure where to start for your people?
Here are 5 practical ways to support your people's financial wellbeing right now.
Download this free guide today, and explore:
- Why financial wellbeing is the key to your people’s wellbeing
- Five steps you can take today to truly support your people
- How technology can deliver a personalised approach
- Considerations in choosing financial wellbeing products
- How you can help your people take control of their money and their wellbeing.