The Department for Work and Pensions (DWP) reported that since 2012 over nine million employees have now enrolled in their workplace pension, with all UK businesses now offering auto enrolment schemes. This has sparked a transition over the past six years to employers identifying the importance of their employee’s financial wellbeing.
According to Willis Towers Watson’s recent report, ‘Employers should make their employees’ financial wellbeing a central part of their strategy’. The report discovered that employees who were troubled by their financial situation were twice as likely to be in poor health as those who were not. Increasing employers growing awareness of the link between financial worries and stress, absence and engagement.
As a result, employees are looking for help, and there is an increasing willingness on the part of employers to offer meaningful support for the financial wellbeing of their staff.
Providing your workforce with an effective pension scheme, coupled with access to expert financial independent advice, can be a distinct advantage when helping to support your employee’s financial wellbeing as well as trying to attract and retain top-quality staff.
If you would like to discuss how IronMarket Business can help support your employee’s financial wellbeing, contact us today on the number below.