We can help your employees score their own financial wellbeing, identify their key challenges, establish their areas of focus and prioritise topics and themes...
This leads to a data-driven, personalised and inclusive FinWELL programme that maximises impact and is most cost effective.
Scroll down to take a look at our public sector case study or click below to view our other sector specific case studies...
PUBLIC SECTOR CASE STUDY
|
Neisha Porter
Client Feedback |
Natasha Hill
Client Feedback |
Thea Wood
Client Feedback |
Once employees understood the FinWELL scoring system they could self-select between crisis, surviving or thriving for the five key elements of financial wellbeing.
You can see the results for each of these covering employees general confidence around managing money, their relationship with money and their ability to pay the bills, financial resilience and future plans.
Over 50% of people in the UK are not confident when it comes to managing money as we didn’t learn the basics at school and this is being further impacted by the rising cost of living, interest rates and inflation.
Employers can then implement relevant training and support in an effort to move people from crisis and surviving to thriving.
You can see the results for each of these covering employees general confidence around managing money, their relationship with money and their ability to pay the bills, financial resilience and future plans.
Over 50% of people in the UK are not confident when it comes to managing money as we didn’t learn the basics at school and this is being further impacted by the rising cost of living, interest rates and inflation.
Employers can then implement relevant training and support in an effort to move people from crisis and surviving to thriving.
You can see that even more employees scored themselves as ‘crisis’ when it came to their financial resilience and even more when it came to future planning.
Research has shown that 20% of people have less than £100 in savings or ‘emergency funds’ so this is a common trend that we see.
Employees also find it hard to focus on the future as they are either trying to survive the hear and now, don’t understand ways they can make money work harder for them over the long-term or think that it’s a long way off and will have time to ‘catch up’ later.
Research has shown that 20% of people have less than £100 in savings or ‘emergency funds’ so this is a common trend that we see.
Employees also find it hard to focus on the future as they are either trying to survive the hear and now, don’t understand ways they can make money work harder for them over the long-term or think that it’s a long way off and will have time to ‘catch up’ later.
Here you can see that over half of employees selected either 'Investing For The Future' or 'Modern Retirement Planning' as their key area of focus.
We see this a lot although most start with a focus on basic money management and it depends of the demographics of employees within a company.
We see this a lot although most start with a focus on basic money management and it depends of the demographics of employees within a company.
A big exercise for our team is to explain the difference between financial education, financial guidance and financial advice.
This particular data shows that the majority of employees wanted access to trusted 'financial education' which is common.
The next mot popular step was 'financial guidance' which for us is either group workshops or 1-1 sessions online or in-person and some believe their next step is to consider options around financial advice *.
*FinWELL do not endorse, recommend or promote and regulated products or services such as financial advice. Instead, we can effectively signpost to existing employee benefits and providers or at least explain the options available.
This particular data shows that the majority of employees wanted access to trusted 'financial education' which is common.
The next mot popular step was 'financial guidance' which for us is either group workshops or 1-1 sessions online or in-person and some believe their next step is to consider options around financial advice *.
*FinWELL do not endorse, recommend or promote and regulated products or services such as financial advice. Instead, we can effectively signpost to existing employee benefits and providers or at least explain the options available.
After sharing a number of practical hints and tips, it is encouraging to see that nearly all employees felt empowered to take action.
This only comes from having an understanding of what financial wellbeing meant to them, establishing their own personal FinWELL scores and also identifying their key areas of focus and interest.
This only comes from having an understanding of what financial wellbeing meant to them, establishing their own personal FinWELL scores and also identifying their key areas of focus and interest.
This is a great way to establish how many employees might be interested in 1-1 support.
We’re all on our journey when it comes to financial wellbeing which is why we offer educational content, interactive group workshops and 1-1 support so employees can access the support they need when they need it and at their own pace.
There is a huge stigma and taboo around even talking about money so it’s important to offer a long-term and flexible approach.
We’re all on our journey when it comes to financial wellbeing which is why we offer educational content, interactive group workshops and 1-1 support so employees can access the support they need when they need it and at their own pace.
There is a huge stigma and taboo around even talking about money so it’s important to offer a long-term and flexible approach.
This is a great way to ensure your approach to financial education is inclusive and personalised.
We’ve learnt how many key life events have a direct impact on our financial wellbeing and visa-versa.
Employers can now tailor support after establishing what’s most important to their teams including things like Menopause and Money, Money & Neurodiversity, FinWELL for Apprentices & Young Adults, Eating Healthily on a Budget, Bereavement, Grief, Trauma and Loss, Parenting & Caring, Divorce and even Financial Control and Economic Abuse.
We’ve learnt how many key life events have a direct impact on our financial wellbeing and visa-versa.
Employers can now tailor support after establishing what’s most important to their teams including things like Menopause and Money, Money & Neurodiversity, FinWELL for Apprentices & Young Adults, Eating Healthily on a Budget, Bereavement, Grief, Trauma and Loss, Parenting & Caring, Divorce and even Financial Control and Economic Abuse.
It’s always encouraging to see that our kick off workshops are found to be very useful, having a positive impact on confidence levels with the majority of employees likely to recommend it to their colleagues.
