As the calendar turns to a new year, it’s not just individuals setting fresh goals—organisations too have an opportunity to embrace impactful changes. One of the most significant ways you, as a HR or Wellbeing Leader can support your team this year is by making financial education a key pillar of your workplace wellbeing strategy.
According to our employee financial wellness report a little over four in five find money matters stressful and 86% report that the rising cost of living adds to their stress. This stress doesn’t just impact employees’ personal lives; it follows them into the workplace, affecting productivity, attendance, and overall well-being.
The start of a new year is a key time for many employees as they are more open to planning for the year ahead and setting fresh new goals. However, many people fail to stick to their goals especially financial. Did you know that two fifths (41%) of people have previously made financial resolutions and 7% did not manage to stick to them for more than a week, according to Hargreaves Lansdown.
One in six (16%) have never stuck to their financial resolution for longer than a month, and four fifths (78%) have not managed to last longer than a year, the Opinium survey of 2,000 people in September found.
How Employee Financial Wellness Can Help
As one of Irelands leading financial well-being specialists, we use World Health Organisation approved health promotion methods to provide tailored financial education programmes that teach employees to connect their income and savings to the lives they want to live.
By combining education with access to one-to-one guidance, employees are better equipped to set realistic financial goals and create actionable plans to achieve them, significantly improving their chances of success.
We use a simple three pillar approach to ensure that our programmes are seamless, effective and engaging for both the employer and employee.
Our three-pillar approach:
Understand
We start with our Attitudes & Trends Survey which helps us, and you understand the existing financial literacy levels and attitudes of your workforce before we design a bespoke programme to the needs of your organisation.
Educate
We believe in a “No Surprises” approach to empowering employees to understand their present financial situation and target future financial events to ensure that each employee fully understands the various elements that make up their financial worlds.
Communicate
Finances are often considered boring, intimidating & uninspiring. Our communications are designed to be fun, engaging, and interactive to ensure a high level of impact and engagement.
If you are a HR or Wellbeing leader looking to make a difference in your employee’s financial health this New Year, investing in a financial education programme is a fantastic first step. Contact us today to learn how our three-pillar approach can transform your workplace wellbeing strategy and drive meaningful results.
