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Breaking The Silence
With the cost of living continuing to rise, money is on everyone’s mind — but rarely spoken about especially not in the workplace. Despite the rising cost of living and increasing financial stress, many employees still feel uncomfortable discussing their money worries at work. Studies show that more than 50% of UK employees don’t feel able to talk to their employer about financial concerns*.
But this silence comes at a cost and not just for individuals, but for organisations too.
When employees are struggling financially, it can lead to anxiety, reduced productivity, absenteeism, and even higher staff turnover. Yet when employers take steps to open up the conversation around money, they create a culture of trust and support.
So how can employers break the silence and build a workplace where employees feel safe and supported in talking about their financial wellbeing?
Acknowledge that money is a mental health issue.
First, it’s important to recognise that financial stress often comes with feelings of shame, fear, and even isolation.
By acknowledging the mental health impact of financial worries, you make it clear to employees that this is a topic you care about. Start by integrating financial wellbeing into wider conversations about health and wellbeing for example, as part of Mental Health Awareness campaigns or stress management programmes.
Normalise the conversation
Just as we’ve made progress in destigmatising mental health, we now need to do the same with money. This means shifting the workplace culture to allow for people to feel like they can open up about money worries at work.
You can help normalise the topic by:
- Including financial wellbeing in internal comms and manager briefings
- Encouraging leaders to model openness around money-related topics
- Running awareness workshops around common issues like budgeting, debt, or saving for retirement
Offer Practical Financial Education & Support
Information is empowering but only if it’s relevant, accessible, and non-judgmental.
Offering financial education in the form of workshops, webinars, and 1-to-1 guidance gives employees a safe space to learn, ask questions, and take control of their money.
The most effective programmes are:
- Confidential – giving employees the confidence to engage
- Personalised – tailored to different life stages and financial situations
- Inclusive – designed for all salary levels and backgrounds
Train managers to spot the signs
While managers don’t have all the answers, they are the first line of support for any employee concerns. A well-trained manager can make the difference between an employee suffering in silence and one who seeks help.
Equip managers to:
- Recognise signs of financial stress (e.g. absenteeism, presenteeism, disengagement)
- Have empathetic conversations
- Signpost to internal or external support services (EAPs, financial coaching, debt charities)
- Reinforce that money struggles are common and nothing to be ashamed of
Create a culture of trust and privacy
Finally, employees will only open up if they believe their employer is acting in their best interest. That means building a culture of trust, empathy, and confidentiality.
Reassure employees that:
- Any discussions about financial wellbeing are voluntary and confidential
- There will be no negative consequences for seeking help
- Their experiences will be used to improve support but not to judge or penalise
A supportive culture doesn’t happen overnight but with consistent, visible action, employees will begin to feel that it’s safe to speak up.
Financial wellbeing is no longer just an employee benefit that is nice to offer but essential in building a resilient and productive team. By breaking the silence around money, you’re not just educating your employees around money you’re helping them to build confidence, resilience, and a more secure future.
