Personal financial issues are the no. 1 stressor for employees in New Zealand. Without doubt, employee financial stress has a negative influence on business productivity and success.
Many people don’t know what to do, so end up doing nothing, whilst others don’t believe they have enough money to warrant financial guidance. Love My Money’s mission is to help people feel better about money and by doing so give them the confidence and courage to make changes for the better.
Employers have a lot to gain … and are very well positioned to help make the change.
The financial health of your employees matters
Employers globally are recognising the importance of financial wellness as a foundation of total well-being.
They understand that when employees are comfortable with their ability to meet their financial obligations, they’re more able and likely to be productive and engaged at work.
The impact of financial stress on employee engagement is significant
Where employees are offered a financial wellbeing program, they are:
What are the benefits for employers?
Employers can get results in all areas of their corporate strategy scorecard: People, Financial, Customer, Risk, Sustainability and Social Responsibility.
The bottom line: decreased costs and increased revenue. Your people are less distracted and more satisfied and are therefore more engaged and productive. You'll have a stronger culture and more loyal workforce.
Your risk profile can shift through a decrease in workplace accidents (operational), demonstrating that you're doing the right thing (reputational).
Sustainability strategies are not just about climate change and plastics ... employee wellbeing should be in there, with tangible actions to prove it.
Low financial wellbeing is not good for New Zealand. Globally, it is being recognised that economies and societies can only progress if wellbeing is addressed. The most effective way to do that is through the organisations that people work for.
What are the benefits for your employees?
By gaining control over day-to-day and month-to-month finances, having the capacity to absorb financial shocks and being on track to meet financial goals … your staff will feel better about money, their personal & home life and their work life.
They will perform better at work, and that’s good for you and them.
It's really simple! You just provide them with a link to access it.
Once they're subscribed to our Journeys, we (and they!) will do the rest, and we’ll report back to you on how it’s going.
The research shows that participants learn very little from workshops, and it rarely translates into real actions that make a difference to their financial wellbeing. Our step-by-step Journeys have actions, and your staff can use them at their own pace and in their own time.
We recommend a simple kick off session to help employees understand:
We can run that or help you do it. We’ll keep them engaged once they’re using Love My Money. We can do follow up sessions for new staff, or to encourage those who may not have taken it up first time around (some won’t be confident or willing to address their financial stress straight away and will come to it in their own time).