Financial wellbeing in the workplace

Financial stress can seriously harm people's mental and physical health, affecting individuals, workplaces, and communities. 

A recent survey found that: 

• more than half of people have faced financial trouble (1) 
• almost three out of four employees feel stressed, with over 75% saying it's because of financial or work-related pressures (1)

From an employer's point of view, these pressures are significantly affecting the workplace, with over half saying it’s hurting their job performance. (1)

People who experience financial wellbeing are less stressed about money. This, in turn, has positive effects on their overall mental and physical health, and on their relationships. 

It’s more important now than ever to help your colleagues, customers and community to build financial wellbeing. We can help your organisation to start or continue developing ways to do this. 

We offer a range of free support, expertise and resources to businesses to enhance financial wellbeing in the workplace. You can: 

• get in touch with our partnerships team for free support and practical ways to help you build financial wellbeing across your organisation. Our local teams can help you understand the financial wellbeing challenges specific to your area.
• get bespoke support to help you build and implement your financial wellbeing strategy.
• use a selection of guides available in English and Welsh, and in print, and alternative formats, for example, in braille, for free to not for profit organisations (commercial organisations must arrange their own print run).
• take part in our annual Talk Money Week awareness campaign, which provides a platform for conversations about money in all walks of life.

Our MoneyHelperOpens in a new window service offers free, simple and impartial guidance, backed by the government, on money and pensions. This includes a range of online guides, tools and calculators in English and Welsh to help improve your finances, including a cost of living hub. 

You can also contact MoneyHelper through:

• webchat
• WhatsApp
• the phone line
• printed guides in different formats
• free debt advice, both over the phone and face-to-face through partner organisations.

We have a wealth of evidence to share with you on what works to build financial wellbeing in the workplace.

• Our guide Financial Wellbeing in the Workplace – The Essential Guide for EmployersOpens in a new window outlines seven simple steps you can take to support your workforce with their financial wellbeing.
  
• Watch a short video where we share to some of our insights on workplace initiatives from the Financial Capability LabOpens in a new window
  
• Our one-page thematic review on this topic summarises a range of research on why employers should offer support and how workplace financial wellbeing programmes should be designedOpens in a new window
  
• Explore the further research on our Evidence HubOpens in a new window

Contact our regional partnerships team for free support and practical ways to help you build financial wellbeing across your organisation.

Based near you, our partnerships teams can help bring your organisation an understanding of some of the local financial wellbeing challenges.

If your organisation has multiple sites, please contact the regional manager closest to your head office.

Sources

(1) LCP, ‘Employee Wellbeing Survey’, 2024