A short guide to our Financial Wellness support

It is said that you should avoid talking about religion, politics and money.  Unfortunately, where money is concerned, this avoidance of discussing the key issues has become ingrained into society.  This is having a detrimental effect on many.   With debt, and sick days rising, your employees Financial Wellness should be at the forefront of your mind.

Financial Wellness

Financial Wellness

A recent study showed over 60% of individuals have poor financial literacy, and one in three employees have reported that financial difficulties have affected their work.  A recent study by the CIPD showed that 75% of employees would welcome financial wellness support.

Companies that have implemented Financial Wellness programs believe that they have improved their overall business performance.  CB Benefits offer a range of Financial Wellness options.  After a brief consultation with you, we will establish your objectives as a company.  We will discuss the areas we feel will have the most impact.  We can then provide a FREE no obligation demonstration to key decision makers, so you can trial our service.

The challenges facing us

Because money is such a taboo subject, Financial Education in companies is still an area which hasn’t completely taken off.  This is a real shame because with the education system severely failing in this area, it is often left for companies to pick up the pieces.   Where financial wellness is concerned, there is a real opportunity for companies to make a difference in their employees lives and encouraging sensible personal financial management will improve both your employees lives, and the productivity of your employees.   CIPD Statistics show:

  • One in Four employees say that financial concerns have affected their performance.
  • 19% of employees have lost sleep because of financial concerns.
  • 8% of employees spent time at work dealing with money problems.
  • 29% of employees are only just earning enough to ‘get by’.

Changing your employees behaviour

In order to create lasting change in your employees financial behaviours, CB Benefits follow the pleasure pain principle.  In order to make a change, a vision has to be twice as compelling as the pain an individual is feeling.  So we draw on these emotions in a balanced way.   We make our presentations simple and practical so your employee’s will change their financial behaviours immediately.

How do we do this?

Firstly, we teach people what money should really be about.  Money should be about people’s lifestyle.   Firstly, your employees will need to design their perfect lifestyle.  What do they want to have and do more of, and what do they currently dislike?   Are they worried about their futures?  What are their concerns?

Too many financial wellness programs focus on the technical side of the Financial Industry.  Teaching people about products such as a pension, a bond or an ISA.  These are important subjects, and we do not neglect these.  But before we tackle these, we ensure your employees understand the basics.  We do this by getting them to design their future lifestyle. These will then form the foundation of everything else.