With research suggesting that employees experiencing money worries cost the UK economy £120bn and 17.5 million lost hours of work, it pays for employers to offer financial wellbeing support.
Debt Awareness Week, run by StepChange Debt Charity, brings the message that debt can happen to anyone to the Nation’s attention.
“With the rising cost of living, we’re finding that many of the people who come to us for help are experiencing financial difficulties for the first time.” StepChange
The cost-of-living crisis has changed the landscape, with debt becoming an issue for some people for the first time.
Use this Debt Awareness to encourage your employees to assess whether debt is becoming a problem for them. With this short Debt Awareness Quiz, they can create a snapshot of their financial health.
A Financial Capability survey found that ‘nearly nine million of us are in serious debt, and only around a third receive help.’
Employers are in a position to help employees stretch their wages further, educate them, and even consolidate debts.
In this blog, we take a look at: the current climate, supporting your people, salary deduct schemes, and supporting mental health.