5 ways your organisation can support financial wellbeing

There are a lot of different factors that influence the well-being of your employees. Those can be social, mental, physical, and environmental, but the one that’s often forgotten about by organisations is financial wellbeing. For many, financial stress is something that they carry with them all day, every day. Throughout their commute, into meetings and often into their sleep. When it comes to financial well-being, it’s important to support your employees to regularly review key financial documents and make necessary updates as life circumstances change.

When your people are struggling financially, it shows. Productivity can dip, absence might creep up, and engagement falters. While it can be scary and difficult to know where to start, the good news is that you can do something about it. In this blog, we’ll discuss how you can support your employees with their financial well-being.

What is financial wellness?

Financial wellness refers to an employee’s ability to manage their finances with confidence. It means being able to cover everyday costs, deal with unexpected expenses, and still plan for the future. When employees feel in control of their money, they experience less stress and greater peace of mind. For employers, supporting financial wellbeing isn’t just a nice extra. Money worries can affect focus, productivity, and absence levels. By helping employees build stronger financial habits and access the right support, organisations can create a healthier, more engaged workforce.

Why are financial wellbeing programmes important?

It’s easy to think of financial well-being as a personal issue – something that’s best left to individuals to manage. But in reality, money stress is one of the biggest factors impacting mental health, performance, and retention in the workplace.

Whether it’s dealing with debt, trying to save, or simply making ends meet, financial pressure doesn’t discriminate. And with the cost of living still front of mind for many, support from employers has never been more important- or more appreciated.

5 ways you can support your employees’ financial wellbeing

It’s important to make a commitment to the well-being of your employees as a whole and not just a vague set of promises. A practical, clear plan that reflects the needs of your workforce and meets them where they are is the best way forward.

From both a benefits and people strategy perspective, here’s what we believe makes a difference:

1. Understanding your people

Start with insight. What’s actually going on for your employees financially? Anonymous surveys, focus groups, or one-to-ones can help you identify the key concerns. Are people worried about debt? Saving for a house? Juggling childcare? Tailor your approach based on what you learn, not guesswork.

2. Making education accessible

Financial literacy isn’t a given, and it’s not always easy to admit when you’re struggling to understand it. Workshops, webinars, and one-to-one sessions with financial wellbeing coaches can make a huge difference, especially when delivered in a judgement-free, jargon-free way. For example, I recently joined a client in their office and delivered a company-wide presentation alongside 1-1 meetings to better understand their individual positions and provide them with clear information and guidance on pensions, benefits and planning for a secure future.

3. Employee benefit schemes for financial wellbeing

Salary is only part of the story. Things like pension contributions, workplace savings schemes, employee discount platforms, and even emergency loan access can all help relieve pressure. The key is making sure your benefits package reflects what your people actually need.

4. Promoting Employee Assistance Programmes (EAPs)

Sometimes, people need support they don’t feel comfortable asking for openly. That’s where an Employee Assistance Programme can play a powerful role. Many EAPs offer confidential access to financial advice, guidance, and practical planning tools. From budgeting support to debt management resources, they can give employees a safe space to ask questions and get clarity.

Confidentiality is key. And often, the tools are already there. It’s about making sure your people know how to access them and feel encouraged to use them. When financial guidance is easy to reach and private, employees are far more likely to take that first step.

5. Embedding it in culture, not just policy

This is a big one. Financial well-being needs to be part of your wider people strategy, not a standalone perk. That means training your managers to spot the signs of financial stress, creating safe spaces for conversations, and showing empathy from the top down.

How can AAB help?

At AAB, our Employee Benefits and People teams work together to help businesses shape policies that work in the real world, not just on paper. We help you listen, respond, and build financial well-being into your culture in a way that’s authentic, achievable, and impactful. When people feel secure with their money, they’re free to show up fully, at work, at home, and everywhere in between. Financial stress can affect productivity, absence, and engagement. Learn how employers can support employee financial wellbeing and build a stronger workforce.

If you have any questions about how you can support the financial well-being of your team, please do not hesitate to get in contact with Richard Petrie, Rhianne Stewart, or your usual AAB contact.