We've launched BWell Financially to offer bespoke strategies that improve employee financial wellbeing and productivity.
BWell Financially uses our ACDC (analyse, consult, deliver and check) approach to understand the needs of an organisation and its workforce, and deliver a wellbeing strategy that is bespoke. Plus it continually measures success to ensure the approach is working, but also so it can adjust and change as organisations evolve.
"One in three people are losing sleep over their financial concerns."
Each client will get a strategy that is tailored to their needs and those of their people. We don’t offer financial products, so we can truly and without bias understand the needs of an employer before suggesting an approach.
From our research we know that UK employees are suffering from lower levels of financial wellbeing. One in three people are losing sleep over their financial concerns and 60% of people only have savings that would last them a maximum of 3 months if they lost their job. This is impacting productivity in businesses and supporting employees in order to alleviate these worries and strain can have a positive impact on an organisation’s bottom line.
The benefit of having a financial wellbeing strategy is that it reduces stress in the workplace, encourages higher engagement and establishes trust between the employer and the employee.
“Financial wellbeing is an important part of the productivity puzzle. With 1 in 5 employees regularly admitting their concentration at work is affected by financial concerns, it is clear that low levels of financial wellbeing has a negative impact on productivity.
There are a number of ways employers can help their staff including financial education, savings and investment vehicles, debt management and retirement solutions. However, you need to know what is troubling your employees before offering a solution. The most important element of BWell Financially is making sure the deliverables employers implement are relevant for its workforce and its bottom line using analytics.”
Damian Stancombe, Head of Workplace Health and Wealth