Webinar: Health and Financial Wellbeing Programmes – Are they An Essential Part of the Employee Value Proposition?
23 April 2020
12:00PM - 1:30PM
With the increased focus on employee wellbeing in the 2010s came the growing awareness of the impact of financial insecurity on employees. 2019 was the year interest in financial wellbeing went mainstream with the creation of the Money and Pensions Service and an increasing interest in the subject from HR professionals.
But what are wellbeing programmes meant to achieve? What is the new “value proposition” to attract and retain critical talent? Is the purpose of benefits now to help employees to become more effective when they are at work? For example:
• Should the focus be on ‘financial wellbeing’ throughout all stages of the working life – rather than just funding retirement?
• Should employees have greater financial understanding of the costs and risks of financial products?
• Should the focus be on maintaining good health and a healthy life-style - rather than on private healthcare to get employees back into work as quickly as possible?
• With greater societal emphasis on mental health, how far do employers’ responsibilities extend into this area?
• What should employers do to make the working environment more conducive to productive work?
• How should the employer respond to family needs such as child-birth, elderly care?
This meeting will examine the practical implications and costs of taking a greater interest in the financial, health and mental wellbeing of our employees – and the extent to which this creates a genuine upside in organisational performance and in the quality of our employees.
We will look at examples of active interventions made by employers to improve physical and mental wellbeing. We will address areas such as employee debt, money management, savings and investment (both products and costs), and the role of nudge theory.