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Safeguarding the financial health and wellbeing of employees has never been more critical. Our guide highlights the five key stages in rolling out a successful and impactful financial wellbeing program that is beneficial for both employers and employees.
Your 5-step guide to building a financial wellbeing program
Packed with tips and handy insights, our guide will walk you through the following areas:
Make a business case: This section includes tips on identifying the cost to business that are associated with financial stress. This might include employee distraction and absenteeism and generally poor work performance. It also includes tips on why a business might opt to implement a financial wellbeing program such as to improve financial literacy, to improve employee engagement and satisfaction, or to improve employee retention. Also included are typical challenges and restrictions on building a business case.
Listen to your workforce: This section outlines the importance of listening to the voice of employees, and how to gather feedback from them via employee surveys and insights from employee assistance programs (EAPs).
Find the benefits that meet the needs of employees: This section highlights several of the options available to employers to implement, including financial education, earned wage access, automated savings, EAPs, and more.
Create an open culture: Money can be a sensitive topic, so this section offers some tips on breaking the taboos around talking openly about financial stress. These include encouraging leaders to open up about their own struggles, training managers to have meaningful conversations with staff, and appointing financial wellbeing first-aiders.
Track progress: Like any area of business, it’s critical to ensure your financial wellbeing benefits are hitting the mark. This section outlines the key metrics to track, including adoption rate, time it takes to hire, number of sick days taken, and more.
Download your guide today!
Employers can and should be taking an interest in the holistic health and wellbeing of their employees. This guide identifies how and why supporting financial wellbeing should be a key consideration.
To download your guide to building a financial wellbeing program, fill out the form on this page.