28th April, 2017 | ,

Why financial wellness is important to your organisation

Financial wellness is a critical part of employee wellbeing but it often overlooked by organisations.

Why is financial wellness important to your organisation?

  • 1 in 10 of your employees struggles financially but keeps it private.
  • Employees with financial worries say their work and productivity is suffering. Many turn to payday lenders or work second jobs.
  • They are more likely to look for slightly better paid jobs elsewhere, costing you more money to replace them and train replacements.

Employees don’t leave their financial worries at the door when they arrive at work. The impact on the workplace is significant. Lost productivity as a result of employees worrying about their finances impacts the bottom line by 4%. You may be surprised to know that almost half of your employees worry about their finances and for 1 in 5 these worries are significant enough to cause sleep deprivation.

Don’t get left behind. We can help you help your employees to take the first steps toward better financial lives.

Helping employees to address their financial concerns can also help with employee engagement. Employees tell us that they would value broader financial guidance, debt management and counselling if they were in financial hardship. 38% of employees say they would move to a company that prioritised financial wellness.

Don’t get left behind. We can help you help your employees to take the first steps toward better financial lives. There are many models that work. The common thread between all of them is that their success is measured.

Employees don’t want to answer detailed questions that pry into their personal lives. We take a different approach. We measure how employees and participants feel about their finances. Across 70 countries, our survey and scale have been used to help organisations and empower their employees to take charge of their financial wellbeing. The results speak for themselves. They show improvement in workplace productivity, higher employee and community morale and greater loyalty.

Find out more. Contact john.hoffmire@cadenceinnova.com or hatty.richmond@cadenceinnova.com