How to support your employees' financial wellbeing
Offer flexible working
Provide financial education
Access to financial guidance
As costs go up, financial challenges can impact us all. It can be a huge relief to have direction and someone to turn to during these challenges. By providing access to a Financial Wellbeing Platform, individuals can contact a qualified financial adviser and discuss any financial-related topics. These topics can include personal budgeting, mortgages, savings, and more. The support is not limited to employees in financial difficulty and can also help staff get more from their money.
Review your benefits package
You can help employees’ salaries go further by offering a comprehensive benefits package. A health cash plan for example will contribute towards services such as dental and optical appointments. There are also schemes available such as cycling to work which can reduce the cost of a bike.
Salaries and the Real Living Wage
Reviewing salaries and increasing pay can provide extra income to cover the increased costs caused by inflation. Organisations can also consider offering the ‘Real Living Wage‘. The real living wage is based on the cost of living and is voluntarily paid by over 12,000 UK employers who believe we all need a wage that meets our everyday needs.