Guide: How to support employee financial wellbeing

Stress is a hot topic for businesses. Not only can it impact engagement and productivity, but it can undermine your company culture in more insidious ways, like reducing employee focus and loyalty. Financial and mental stress has risen to its highest level since the beginning of the COVID-19 pandemic. This is compounded by a significant increase in the cost of living.

A 2021 report into the Future of Work by PWC found that the top two benefits employees wanted as part of the Employer Value Proposition were rewards (25%) and wellbeing (22%). This encompasses pay, salary packaging, discount incentives such as perks, mental health support, wellness and lifestyle benefits, and financial support and education.

It’s clear that to attract, engage and retain top talent, putting financial wellbeing at the core of your people strategy is crucial.