How to improve the financial well-being of employees?

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How to improve the financial well-being of employees?

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Learn how to improve the financial well-being of employees, makes the corporate routine more productive, and its professionals more motivated.

After all, the financial stress can deeply impact their lives in every way. The accumulated debt makes the person more irritable, anxious, worried and less attentive to what happens around them.

For the company, this is reflected in low productivity, higher than expected absenteeism and even layoffs. So your organization can take care of some strategies, as:

Therefore, knowing how to improve the financial well-being of employees should be among the priorities for changing the lives of many people. Check out how it can be done below!

The importance of financial health

Before understanding how to improve the financial well-being of employees, it is important to know what a lack of financial health can cause. A number of factors can be considered symptoms of financial stress, such as:

  • low motivation;
  • lack of engagement;
  • performance below expectations;
  • conflicts and difficulties in interpersonal relationships.

If in general, your employees have problems with debt – and the chance is great, considering that the country adds up 40.4% of the adult population with the dirty name -, it is possible that low performances are related to financial stress.

And, as is known, this translates into negative results for the organization and, even, the increase in layoffs driven by this.

In other words: you can turn the costs and losses of this into positive values ​​- after all, learning how to improve employees’ financial well-being converts to investments to improve a harmful situation into something meaningful.

So, what can be done to improve the financial situation of your professionals? That’s what we’ll see, right away!

How to improve the financial well-being of employees?

Below, we rescue the main strategies that the big brands have invested to solve – directly or indirectly – the financial health of their employees!

Financial guidance

Through educational materials – such as newsletters, workshops and lectures -, it is possible to diagnose the main financial problems that affect its employees.

However, let’s say that the majority are concerned with saving for a peaceful retirement, which has neglected the risks of small debts that are now accumulating in the short term.

With these guidelines, the company can serve as a balance point to point out the best financial education tips. Example: saving is important, but without planning and goals, you could be putting your life at risk right now.

Share information

Your employees can be very interested in the subject. So, how about gather the best information periodically? You can share:

  • podcasts;
  • News;
  • articles;
  • economy and investment tips.

Among other materials that arouse the interest of staff, and that in addition have to do with their average interest – something that can be raised through a simple survey with employees.

For your HR work, it is possible to learn how to improve the financial well-being of employees also by collecting information. A kind of clipping – the meeting and summary of the most important information – to facilitate access for your employees.

A tip: how about sharing articles that understand the difficulties they are going through, and point out resolution tips focusing on their financial well-being? Here, on our blog, you will find many posts to be shared with your employees 🙂

Give financial education tips

Create situations that will facilitate the identification and familiarization of your professionals, representing what they are going through. To do this, explore examples that show the relevance of having a budget planned for the month, controlling expenses and even planning goals in the short, medium and long term.

For this, it is important that you make a financial welfare program contemplating the difficulties that people most have to deal with their economies.

Personalized and close support – who knows, with personalized company consultancy – you can show your professionals where your resources are going, and how to set goals that improve your day to day.

Use corporate benefits that focus on financial well-being

A solution that is increasingly on the rise is the use of corporate benefits that focus specifically on the financial well-being of its professionals.

One of the most relevant benefits, in fact, is known as on-demand salary. Through it, the employee has access to his remuneration at any time.

And how does it have a positive impact?

If he has an account to expire or has the need to make an emergency purchase, instead of opting for overdraft or splitting purchases on his credit card, he can request the desired amount – of days already worked – the professional can request it for the company itself.

At HR Consultants UK, we developed the HR Consultants UKy for our customers. This is an application that your employees have access to and can request the desired amount at any time. The money falls into your account in a few hours.

For the company, the financial routine remains the same. That’s because HR Consultant UK takes care of the entire cash flow while payments normally take place on the dates scheduled by your financial sector.

HR Consultants UKy is a tool that adds flexibility and convenience for employees, in addition to being a powerful ally for companies that intend to improve the financial well-being of employees!

Do you want to know more about this subject, in particular? So, take the time to check out another article from us, which focuses on exploring the benefits of investing in a financial well-being program in the company!

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