Reward Gateway | Edenred urges businesses to prioritise employee financial wellbeing

Chris Britton, people experience director at Reward Gateway | Edenred, has urged businesses to support their workforce by providing financial tools and assistance. 

Marking National Financial Awareness Day, he said rising affordability and cost of living pressures meant more than half of employees were worried about their finances. 

Britton said: “Our research reveals that 60% of employees are expressing concern about financial pressures when thinking about the job market and UK economy. 

“This is a prime opportunity for businesses to support their workforce by equipping them with the financial tools and support they need to live comfortably and avoid any knock-on effects in their lives or work. 

“Poor financial wellbeing affects job performance, absenteeism, retention and morale – all of which can have a negative impact on businesses if ignored.”

Britton shared several ways businesses and HR teams can help boost financial wellbeing among employees. 

He stated that understanding employees’ needs was essential and that collecting data helps focus efforts on the financial tools that make the most impact. 

He said that it is important to find out if staff want a pay rise, bonus, or more flexibility at work.