Difficult economic conditions are prompting many employers to change their approach to financial wellbeing to support their people through tough times. While increasing pay may be the most direct choice of options, it might not always be possible when budgets are tight, nor, on its own, may it be enough. Instead, organisations are redefining their benefits packages to help employees in new, innovative ways.

Enabling financial awareness is an important aspect for supporting an employee’s overall wellbeing during a cost-of-living crisis. To ensure that the support is relevant to individual needs, it is important to recognise that these needs are changing at employees’ different life stages. Understanding this allows for the creation of actionable steps that improve financial awareness for everyone in the workplace.

Organisation: Leek Building Society

Industry: Financial services

Size: c. 200 employees

Interviewee: Rob Longmore, HR Director, and Lizzie Hall, Head of HR

In this series

Case studies
Supporting employee financial wellbeing: A Singapore-based aerospace company

Case study on how a lunchtime seminar programme is helping employees plan for retirement

Case studies
Supporting employee financial wellbeing: SUEZ payroll autosaving

Case study on an award-winning savings initiative to help employees during cost-of-living crisis

Case studies
Supporting employee financial wellbeing: Tesco Stores

Case study on actions taken to help employees improve their financial literacy and decision-making

Case studies
Supporting employee financial wellbeing: West London NHS Trust

Case study on how an employee financial wellbeing survey resulted in free breakfasts

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