A quarter of HR and reward professionals questioned in a recent survey report by Nudge warn that levels of financial stress amongst employees in their organisations are greater than 12 months ago. Almost three-quarters (71.9%) say that financial stress levels have not fallen in the past year, the research suggests.
Nudge has brought the research together with tips on maximising a successful financial wellness strategy. Employers in the survey state that the need for employees to borrow and manage their debt is the most important factor driving the demand for financial wellness solutions, followed by a requirement for budgeting advice and help with managing the cost of childcare.
Jeremy Beament, Director at Nudge, said:
‘In 2017, the financial wellness market exploded with pensions, engagement and wellbeing the major drivers. Although it’s positive to see such widespread understanding of why there’s a clear business case to improve employees’ financial wellness, the gap between this aspiration and the support organisations currently provide remains wide.’