Sharing good practice
Employers use many ways to build financial wellbeing. Use these examples and ideas to help you get started.
Create a work culture where people are comfortable talking about money
- Have financial wellbeing ambassadors at every level of management, including board level.
- Invite experts such as your pension provider, independent financial advisor and local bank’s mortgage specialist to discuss money matters with your employees.
- Provide confidential counselling services, where employees can discuss their financial situations.
- Build financial wellbeing into inductions, HR policies and around life events, such as going on parental leave, buying a home, facing a relationship breakdown or bereavement, returning to work, gaining a promotion, approaching retirement and leaving a job.
- Add a financial wellbeing section onto your intranet.
Partner with other providers
- Work with a local or national credit unionOpens in a new window that provides employee savings, loans or insurance services, taking repayments directly from the payroll.
- Partner with other specialists in the areas of pension support, payroll savings schemes, loans and salary advance schemes and financial education.
Review your Employee Assistance Plan if you have one
- Ease the burden of commuting costs with season ticket loans and bike-to-work schemesOpens in a new window
- Give employees access to a regulated financial advisor and receive tax and national insurance contribution relief in return.
- Negotiate group life insurance and income protection insurance for your employees, providing financial security for their loved ones in event of their death, injury or long-term illness.
- Health insurance through the workplace can give employees additional medical benefits.