Financial wellbeing is top concern for two thirds of employers

Over half of employees looking to employers to support on financial issues

clock • 1 min read

Two thirds (65%) of HR decision-makers identified financial wellbeing as the "next big employee challenge" according to research from Scottish Widows.

The survey of over 500 HR leaders found the pandemic had exacerbated the issue, with almost half of workers experiencing increased anxiety and stress as a result. Employees are more likely to tackle financial wellbeing concerns, with 65% of HR leaders saying their staff were increasingly likely to discuss mental health issues with management, according to the research. Over half of employees (52%) have also looked to employers for support on issues such as personal debt, costs related to working from home and saving for retirement. Responses from employers has varied, with over one...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Employee Benefits

Employees seeking preventative healthcare benefits

Employees seeking preventative healthcare benefits

67% of workers wish to be more proactive with their health

Jaskeet Briah
clock 04 February 2025 • 2 min read
UK DEI policies impacted by US trends

UK DEI policies impacted by US trends

UK HR survey

Cameron Roberts
clock 24 January 2025 • 2 min read
Pivotal Growth acquires Radcliffe & Newlands Mortgages

Pivotal Growth acquires Radcliffe & Newlands Mortgages

Move into employee benefits

Cameron Roberts
clock 22 January 2025 • 1 min read