How does a Financial wellbeing programme work?

Workplace financial wellbeing is something that shouldn't be overlooked when planning your workplace wellbeing programme.

Have you ever felt the pressure of being financially unwell? In the modern economic climate, the worries of remaining financially secure or the pressure of debt repayments and bills can increase our levels of stress. Financial stress not only often results in a decrease in productivity from employees, but it can also affect their health and happiness. It is noted that 51% of employees express that their financial state is a worry for them.

A good financial wellbeing programme is designed to enable employees to better address this stress. This is done by working with experienced, professional financial wellness advisors to assess an employees financial status. These advisors will teach the employees to set reasonable and achievable financial goals. Providing employees with access to a professional advisor gives them the opportunity to ask questions, thereby increasing their understanding of the subject.

There are a number of ways a Financial Wellbeing programme can be implemented but there are four key pillars which can employees to improve their financial state.

Behavioural change.

In a financial context, behavioural change means encouraging people to make positive alterations to how they spend and save. If you are currently thinking about financial wellness for your organisation, you likely see a challenge that is being caused by money-related stress among employees. Empowering them to change their outlook and habits around money is an essential part of a successful programme.

Comprehensive review.

Financial wellness must always represent an individual’s full financial status, whether that include debts, mortgages, loans, disposable income or financial aims. A comprehensive look at the financial situation helps the advisor and the individual to gain a better understanding of how things can managed.

Personal engagement.

Employees expect guidance and communications that are specific to them and their particular circumstances or they fail to fully connect with the advisors. That is why it is essential that financial wellness programmes incorporate this strategy. To be effective financial guidance must be tailored to the employee and his or her specific needs, goals and situation.


Your employees and their best financial interests should be at the centre of a financial wellness programme. Therefore, for the results of the wellness programme to remain long-term, the employee must be taught the importance of independence. For employees to become independent they must fully comprehend on the solution to common financial issues. This will allow employees to balance their own long and short-term financial needs in the future.