Laying the foundations for financial wellness

The UK labour market has gone through a wholesale transformation over the past 20 years driven by a combination of financial, business and social change. This transformation has seen the emergence of a transient, multi-generational workforce with more diverse needs and concerns than ever before.

This diversity is particularly apparent when it comes to financial health. Different generations display varying levels of financial security and very different financial aspirations. Baby Boomers for example may be preoccupied with saving into a pension, but for Generation X retirement is a distant dream. 

This financial pressure breeds stress. A recent study by CIPD revealed money worries are the number one cause of stress in the UK (22%). With 10 million working days lost to stress each year, the benefits to businesses in addressing this issue are clear.

But are employers really investing in financial wellness as part of a holistic wellness strategy?