How employers can help fight the financial well-being crisis

According to research from the Building Societies Association, the UK faces a financial well-being crisis with 14 million people reported to have less than £100 in savings^{_^}.

14 million is not just a number. It’s 14 million people, people who could be working in your business, without a financial buffer to rely on should they need it.

Small steps can make a big difference in building better habits and improving financial resilience, and at Marsden Building Society, we believe that shouldn’t feel out of reach. Our Workplace Savings scheme helps employees build financial resilience through small, regular savings taken directly from their salary, post-tax and other deductions. A simple step that could make a big difference not only to the individual, but to your workplace.

Research shows that…

• 19% have taken time off work due to financial stress^{^}
• 22% say money worries have negatively impacted their performance at work^{_^}
• 30% are just one pay day away from financial difficulty^{^}.

When employees worry about how they’re going to cover unexpected expenses, those worries don’t stay at home, they come to the workplace - affecting focus, well-being and performance.

Let’s make a difference, together

Our Workplace Savings scheme is a free scheme to help your employees reduce financial stress and build better financial resilience. With no cost to you as an employer, setting up a scheme is a positive step in supporting financial well-being. Not only does it show you’re a responsible employer and one that genuinely cares about its people, but it can also contribute to a happier and more productive workforce too.

If you’d like more information about our Workplace Savings scheme, please reach out to j.bell@themarsden.co.uk.

^{^ UK faces financial wellbeing crisis (BSA)}