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Financial Wellness

Like physical health and wellness, the personal financial wellness of your employees is an important aspect of their overall well-being. Employees may be experiencing stress over organisational shifts, market conditions, personal life events, or benefits changes. 

Financial stress can impact employee engagement, absenteeism, productivity, retirement, and healthcare costs.

Employee benefits sometimes include financial education programmes which focus on topics like retirement and investment. However, these programmes often fail to address how these financial stressors can impact employee wellness.

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Your employees' financial health

Employees often look to their employer for help navigating the personal financial issues that are causing them concern. The stressors your employees may be experiencing include:

  • Greater employee responsibility for DC retirement, savings or investment decisions
  • Insufficient retirement savings impacting retirement readiness
  • Stressful personal situations like debt, paying for college, saving for a deposit or caring for ageing parents
  • Organisational change such as workforce reductions, voluntary and involuntary early retirement programmes or relocations
  • Changes to employee benefits like retirement plan conversions from DB to DC
  • Lack of knowledge, appreciation, and utilisation of the employee benefits package provided by the employer including retirement plans, private healthcare, share schemes, insurance cover etc.

‟This is a generation who’ve only been financially conscious in the last ten years. Their entire financial life, and almost all of their time earning, has therefore been spent in a crisis scenario… As a result, young professionals have a generally conservative risk appetite.ˮ

Young Professionals Financial Wellness SurveyPwC

What can we do to improve employee engagement in your business?

Financial wellness drives employee engagement. Our goal is to empower your employees to make educated decisions which will improve their financial wellbeing. 

Our Employee Financial Education and Wellness practice will work with your business to design and deliver a Financial wellness programme which is tailored to your specific objectives and employee needs.

With your input, we will create a Financial wellness programme that will motivate employees, drive sustainable behaviour change and promote a culture of financial well-being.

Our programme will educate your employees about their rewards and benefits in the context of personal financial planning. We will make sure your staff are fully informed about saving, investing, debt management and planning for the unexpected.

Using a combination of personalised assessments, coaching, workshops, webcasts, online tools, and targeted communications, we will enable your employees to achieve financial peace of mind.

What should a financial wellness model look like?: Needs identification; awareness and education; motivation and enablement; guidance and support.

What should a financial wellness model look like?

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Contact us

Munro O'Dwyer

Partner, PwC Ireland (Republic of)

Tel: +353 1 792 8708

Olivia M Kelly

Senior Manager, PwC Ireland (Republic of)

Tel: +353 1 792 6891

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