From our archive. This article was published on 7 June 2022. Rules and amounts may have changed since.
Employee financial well-being refers to the ability of employees to get and keep their financial affairs in order, so that they can focus on their work and personal goals without financial stress affecting their performance.
This covers not only salary, but also other aspects of the employee’s financial situation, such as pensions, savings, debt, insurance and taxes.
Financial stress can have a negative effect on the productivity, health and overall well-being of employees. Employers can therefore offer financial programmes and services to support the financial health of their employees. This can take the form of financial education, budget coaching, pension planning, help with debt and so on, for example.
By investing in the financial health of employees, employers can not only help their employees achieve greater financial stability, but also benefit their own business, with advantages such as higher employee satisfaction, improved employee productivity and retention, and less absenteeism and sick leave.