How Work Has Changed Forever – Financial Wellbeing White Paper Coming Soon
‘When you know better you do better.’ Maya Angelou
The link between wellbeing and productivity is well proven; an engaged and motivated team is a productive one. Wellbeing programmes started to appear in the New Zealand workforce in the 2010s and primarily focused on physical wellbeing – the ubiquitous fruit bowl and often a lunchtime yoga session. Today a holistic focus on wellbeing is largely understood to include physical, emotional, mental, social and, still to a lesser extent, financial wellbeing.
Nearly 50% of the workforce is anxious, stressed, and concerned about their finances (Umbrella Wellbeing Assessment). When people are stressed about money, they are more likely to report health concerns, exhibit irritability, anger, and fatigue, and develop unhealthy coping mechanisms like smoking, drinking, drug abuse, and overeating. There is a strong link between financial stress, absenteeism and presenteeism, health issues, and reduced productivity.
Of course, employers already play a significant role in employees’ finances. They pay salaries (and sometimes bonuses) and often contribute to KiwiSaver or other retirement savings plans, and medical and other insurances. Helping employees to more effectively manage their finances to reduce that factor as a stressor is the next logical step and improves employers’ bottom line.
To help start a conversation about financial wellbeing that goes deeper than rainy day funds or back-up plans for a sudden loss of income, we are launching a white paper!
In it, we discuss a different perspective on financial wellbeing and provide guidance and practical tools which can help HR professionals and employers support their staff to sustainably improve their financial and general wellbeing.
The white paper covers topics including:
The psychology influencing our financial wellbeing (in collaboration with Umbrella Wellbeing);
What the data says about financial wellbeing and the impact of financial stress on employees;
Developing the business case - the link between financial wellbeing and productivity;
Why Directors need to take note and what they can do to help senior management protect their staff (with an article by the Institute of Directors)
We also introduce a unique, self-directed coaching model, ADAPT™, which is developed on proven life coaching practices.
You can access the white paper here: https://info-hub.myfootprint.co.nz/whitepaper
