Most people are aware of the high levels of financial stress dominating the UK. In fact, Champion Health found that 37% of those surveyed listed financial pressure as a top cause of stress outside of work in 2023. With the cost of living crisis being a glaring issue for many of us, shaking off that bothersome cloud of worry is easier said than done.
Paying the bills, mortgage, and groceries can be a struggle month to month, let alone having a rainy day fund in case of emergency. Being productive and positive in the workplace when battling with this can feel like an impossible task, so by helping employees to manage financial wellbeing, creating a more stress-free environment can be achieved.
So…how do I help?
Obviously increasing employee salaries would be ideal, but when that isn’t an option, there are still steps that you can take to assist you employees with saving money and managing finances.
A problem shared is a problem halved, right? Sometimes part of the issue when it comes to stress is bearing the burden of it alone. Having someone to talk to such as a counsellor can be a huge source of support when it comes to stress that’s impacting mental health. This is where having an Employee Assistance Programme (EAP) in place comes in handy.
For when help is needed with specific financial advice, there’s also experts that can provide that with the EAP. Receiving money management assistance can be a game changer when it comes to budgeting, so having access to this tool is a win.
Savings, savings, savings
With food inflation up 16.3% in the most recent year up to April, the food shop often comes with a familiar sense of dread once reaching the checkout. The stomach-churning cost of living crisis has been difficult for most, and reducing everyday costs in any way is a high priority for many of us. Discounts and Reward Beans offers for the most popular UK supermarkets provide a way to save a bit of money on that regular shopping trip. And it’s not just supermarkets; you can save with top retailers on clothes, electronics, and event tickets.
So what is special about our Reward Beans? This virtual currency allows you to save up from your purchases to reach a custom goal: be it for shopping, to put into an ISA, or for charity. With each purchase made through My Staff Shop, your employees can collect Reward Beans and have extra savings for no extra cost!