Why employers should care about financial wellbeing

Most company leaders realise the importance of their team’s contribution to business success and continually work to ensure the needs of their people are reasonably met. Wellbeing initiatives may range from a wellbeing allowance, gym memberships, standing desks, vaccination programmes, discounted health insurance, and EAP support which may include a budgeting service. 

All have significant benefit to an employee’s wellbeing, but there is further opportunity to provide solutions that specifically respond to the stressors that impact financial wellbeing.

Financial stress can be experienced by anyone at any stage of life. It is omnipresent. It leads to feelings of being out of control and can trigger anxiety, shame, and depression. The impacts can vary for us all, a lack of focus, physical illness, reduced productivity and resistance to change can all be symptoms that are masking a distressing situation.

On this basis, there is good reason for employers to consider financial health as a core part of employee wellbeing programmes, not least as a mitigating factor in absenteeism and presenteeism, which comes with a very real cost.

The numbers speak for themselves:

To understand more about the psychology, data and general impact regarding financial wellbeing and what employers can do about it, Footprint Connect is releasing a complimentary white paper.

Designed for HR professionals and leaders who want to support a culture of adaptability and empowerment, retain and attract talent by improving their employees’ financial health and wellbeing, this white paper offers a different perspective and a practical framework.

You can find out more and download the complimentary white paper here: https://info-hub.myfootprint.co.nz/whitepaper