Most workplaces are tuned into well-being relating to emotional and physical welfare, but increasingly employers are acknowledging that financial health is just as important. Studies show that 13-17% of salary costs arise from the impact of poor financial health. Independent research demonstrates that 1 in 3 people list financial worries as their top ranked concern. Figures from the Bank of England demonstrate that nearly 17million UK adults have less than £100 in savings.
It’s therefore easy to understand why those unexpected financial shocks, like the washing machine breaking down or higher than usual MOT costs, become that much more difficult to manage. Small changes in the way people manage their money can make a huge different to their financial well-being. Whether the focus is building a nest egg for a short-term aim, home improvements or simply benefitting from the peace of mind that comes with improved financial stability, MONEY@WORK can help.
MONEY@WORK is a free workplace initiative offering employees access to affordable loans and savings straight from their salary. Partnering with MONEY@WORK will help:
- Build financial resilience in the workplace
- Improve access to affordable, ethical lending that supports local communities
- Retain staff, boost engagement, and maximise workplace productivity