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Financial resilience now seen as a key concern for employers and workers – WEALTH at work

45% worried about not having enough for unexpected costs, 29% were concerned about affording basic living costs, and 26% were worried about debt. 

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A survey by WEALTH at work found that 47% of UK workers were most worried about not saving enough for the future, up from 37% a year earlier. 

Another 45% worried about not having enough for unexpected costs, 29% were concerned about affording basic living costs, and 26% were worried about debt. 

Nearly half of workers said they were cutting non-essential spending, and 18% had taken on debt. 

Money worries led to more stress (36%), mental exhaustion (34%), lower motivation (23%), less focus (20%) and more sick days (8%).

A Mintel report showed 59% wanted more education on debt management. 

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WEALTH at work said there was a clear opportunity for employers to help with financial resilience.

Jonathan Watts-Lay, director at WEALTH at work, said: “Individuals can take sensible steps to strengthen their financial resilience, and employers have an opportunity to support this goal. 

“In an era of uncertainty, financially resilient people are not just better protected, they are better equipped to help sustain organisations, communities and the wider UK economy.

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“For HR leaders, financial wellbeing is no longer a nice to have benefit; it is a core component of organisational resilience.”

Watts-Lay added: “Employers that treat financial wellbeing strategically can help to bridge the gap between the UK’s national resilience ambitions and people’s day to day lives.

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“One of the cornerstones of an effective resilience strategy is the need for everyone to understand the risks they are facing. 

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“This highlights the critical role of financial education. Financial literacy enables people to make informed decisions, anticipate challenges and respond more calmly under pressure.”

He said: “Understanding budgeting, saving, borrowing, insurance and pensions does not eliminate risk, but it significantly improves people’s ability to cope when things go wrong.

“For HR professionals, financial education is one of the most scalable and cost effective actions available. 

“Delivered well, it empowers employees and reduces the risk of disruption further down the line.”

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He added: “As resilience rises in importance across all levels of society, it is becoming increasingly clear that financial wellbeing isn’t just an employee benefit; it’s a strategic investment in your people and your organisation’s success.”

WEALTH at work recommended five practical steps for employers to share with staff to help build financial resilience. 

These include creating a budget, managing debt, building up savings, making the most of pensions and using workplace benefits.

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