Financial wellbeing employee benefits are programs or perks provided by employers that help employees manage their financial health and wellbeing. These benefits can improve employees' overall quality of life by reducing financial stress, improving financial literacy, and enabling long-term financial security. Offering these benefits can also help boost employee engagement, productivity, and retention.
Manchester Money are offering to firms free of charge:
Financial Wellbeing clinics, seminars, 121 appointments for their team.
• These services provide confidential advice for personal challenges. Employees will have access to our mortgage advisors, who will review current circumstances and help to manage personal finances, debt management, budgeting and saving plans with an aim of reaching financial goals.
Life Insurance and Critical illness cover
• Financial wellbeing extends to the protection of an employee’s income and loved ones in case of death or disability. Providing life insurance and critical illness insurance can offer peace of mind to employees. We can discuss group policies for your teams which is a tax deductible expense for your business.
Wellbeing and Financial Literacy Education
• Offering workshops or resources to improve employees’ financial literacy, such as budgeting, investing, or understanding credit scores, can have long-term benefits.
Benefits of Financial Wellbeing Programs
• Reduced Financial Stress: Employees who are less worried about money tend to be more focused, engaged, and productive at work.
• Improved Retention: Offering financial wellbeing programs can make employees feel valued and more likely to stay with the company long-term.
• Attracting Top Talent: A comprehensive benefits package that includes financial wellness options can make your company more appealing to potential employees.
• Increased Productivity: Financially stressed employees often struggle with distraction and absenteeism. Financial wellbeing programs can alleviate these issues.
These benefits are part of a growing trend to support employees holistically, recognising that financial stress can impact both personal and work life. Would you like more details about any of these benefits? Please email julia@manchester-money.co.uk