Personal financial worries cost businesses in terms of absenteeism, reduced engagement and loss in productivity and, as this research shows, the impact on the UK workplace is significant with an estimated 17.5 million lost working hours each year.

Our own research however shows that only 24% of UK employers who provide a wellbeing strategy include financial wellbeing. And the vast majority that do offer some support around financial wellbeing concentrate this only on debt management.

Financial wellbeing is not only about debt and is not just for those struggling at subsistence levels; we all have money worries at different times throughout our lives and so when looking at making a difference to the financial wellbeing of the workforce, all financial wellbeing factors need to be included.  

There is an easy remedy to this; wellness comes from financial education, a targeted financial wellbeing programme with key focus and objectives and providing access to further one-to-one guidance and advice for employees that need extra help.