During the coronavirus crisis, the UK has moved quickly to adapt to new ways of working and living. However, the situation has placed significant strain on the nation’s mental, physical and financial wellbeing.
What's the problem?
A significant proportion of the UK workforce have found themselves furloughed, facing redundancy or working reduced hours, creating a sense of unease and anxiety about the future and putting pressure on financial resilience, on top of the immediate financial impact.
At StepChange, we want to use our debt advice expertise to work with employers to build employee financial wellbeing services that suit the individual needs of colleagues, supporting them to access debt advice and money guidance when they need it.
A holistic view of employee wellbeing
Many employers offer Employee Assistance Programmes which offer much-needed support for workplace issues, and physical or mental health worries. However, we believe there is space for better financial wellbeing provision in UK workplaces.
Programmes such as salary advance schemes can be helpful for some, but for others they can exacerbate a debt problem by prolonging the time it takes people to access debt advice.
We'd love to speak with employers who are keen to build financial wellbeing into their employee support packages.