Many employers already recognise the need for supporting employee financial wellbeing. Money worries affect our mental and physical health, which in turn can affect work performance. To help address this, nearly half of employers have a financial wellbeing policy in place.
Ideally, the policy should form an integral part of every employer’s holistic wellbeing strategy. But even small employers with a limited budget can do their bit with a simple policy that acknowledges their commitment and lets their workforce know where they can seek help if they need it.
The Financial wellbeing guide, published by The National Forum for Health and Wellbeing, provides further facts and figures about the impact of the COVID-19 pandemic on financial wellbeing, and how this has added to the urgency for employers to take action.
Research by the CIPD shows there’s a clear business case for supporting employee financial wellbeing. It's an integral part of creating a healthy workplace where people can flourish, reach their potential and make a significant contribution to their organisation’s performance. There’s also, of course, the moral argument: we should take action because it is the right thing to do.
Our financial wellbeing survey can help you get a better understanding of your employees' financial wellbeing. It can be used as the basis for a financial wellbeing strategy and to start conversations with your employees.
We’ve made the process easy and manage it all on your behalf. The survey is quick and easy to complete and should take no longer than 5-10 minutes.
All responses are anonymous and cannot be traced back to any individual employee.
We produce a report summarising results, analysing your employees' wellbeing, and highlighting any concerns or areas that may need addressing.
The report is yours to keep and can be used to develop a financial wellbeing strategy, or even measure the impact of one that’s already in place.