90% of firms think financial worries impact performance
The Financial Advice Working Group (FAWG) has launched a portal and guide to help employers support their employees’ financial wellbeing.
A report by the organisation said most employers understand the link between wellbeing and productivity, but need guidance on what they can do.
Research suggests almost half of all employees worry that they will be unable to retire, given the state of their finances, and one in three loses sleep because of this.
Compounding this are low levels of financial capability, and the complexity of solutions and products, which make it challenging for people to manage their money effectively.
The FAWG research found people have a strong tendency to live for today, with little planning and a short-term approach to managing finances.
Excerpt from Health Insurance Daily, read the full article here