Employer Benefits – The Value of Greater Employee Financial Wellbeing

Increasingly, UK employers are acknowledging the link between employees’ wellbeing and their performance at work. In fact, research carried out by the University of Warwick showed that happy employees are 12% more productive than the ‘average’ employee[1].

Conversely, stress is now the number one work-related health problem, leading to an estimated annual cost of £26 billion to UK employers[2]. With over half of UK employees reporting that financial pressures affect their ability to perform their job[3], there are clearly not only welfare, but also sound business reasons for providing financial wellbeing training. In fact, demand from employees is high, with approximately half indicating that they would welcome the provision of financial awareness programmes to help them learn more about managing their finances[4].

Moreover, the roll-out of auto-enrolment workplace pensions and recent increases to individual contribution rates has highlighted the need for financial guidance on pensions and savings in addition to budgeting and an understanding of taxation.

The Money Charity’s vision is that everyone achieves financial wellbeing by managing their money well. Our programmes empower people to build the skills, knowledge, attitudes and behaviours to make the most of their money throughout their lives. We have a number of workplace options available to support people on their financial wellbeing journey. All our workshops/webinars are independent and delivered by our team of financial capability consultants throughout the UK.  Attendees will never be offered financial products or services during or after our workshops.

Our Financial Wellbeing Modules offer employers a comprehensive choice of one-hour workshop modules to address the unique needs of their workforce including budgeting, understanding tax and payslips, or dealing with debt.

Alternatively, our Two-Hour Financial Wellbeing Workshop is a great way for an employer to start the financial wellbeing journey and gain additional insight into the needs of employees.

“I’m so glad I attended the Financial Wellbeing Workshop … [the presenter] was clearly very experienced and had a vast bank of financial management knowledge and was able to answer every question put to her and she offered very easy to understand explanations…The programme was easy to follow and was very useful…I am very grateful for the opportunity given to me to learn and put in to practice some of the great advice given…”

For those employers wanting to provide guidance on life after work, the Retirement and Pensions Workshop enables employees to think about the life they want in retirement. It encourages them to begin to think about how much money they may need to realise their ambitions, and make sense of topics such as auto-enrolment, pension consolidation, managing pension contributions, and budgeting to maximise their pension.

If you’d like to make a booking, find out more, or have any questions, please don’t hesitate to get in touch with us on hello@themoneycharity.org.uk or 0207 062 8933.

[1] Oswald, A. J., Proto, E. and Sgroi, D (2014) ‘Happiness and Productivity’ Journal of Labor Economics (JOLE), 3rd Version, (February 2014)

[2] What Works Fund – Money Advice Service (2018)

[3] What Works Fund – Money Advice Service (2018)

[4] Working Well – Social Market Foundation (2016)