How to support employee financial wellbeing?

Are your employees struggling with financial stress at work?

Implementing thoughtful financial wellness initiatives can help your employees improve their financial wellbeing, while creating a more resilient workforce. Learn more about it in this webinar.

What is covered in this webinar?

For Human Resource (HR) leaders, addressing financial wellbeing isn’t just about supporting personal needs; it’s about fostering an environment where your team can thrive, free from financial worry, and achieve genuine financial freedom.

This webinar will arm you with strategies to: 

• Build the business case for financial wellness: We’ll quantify the ROI that makes financial wellbeing a strategic imperative, not just a nice-to-have benefit.
• Break the modern debt trap: We’ll expose how predatory lending practices are keeping many Australians, especially younger team members, locked in cycles that devastate their financial future and provide your toolkit for intervention.
• Offer tailored support across career stages: Financial needs evolve dramatically from early career through retirement. We’ll share precise strategies to address these shifting priorities, from debt management to wealth building.
• Run with ready-to-implement strategies: We’ll also share time-tested approaches and tips that transform employee financial wellbeing while strengthening their bottom line.

Join Alex Hattingh (Loder) Chief People Officer at Harrison.ai (Ex CPO-Employment Hero), alongside financial wellbeing specialists Justin Joffe (Co-founder, Flux), Ben Marshan (Director, Future 2 Foundation) and Jane Monica-Jones (Financial Therapist, Author, and Speaker) as they deliver practical strategies to help employees overcome financial stress and achieve their financial goals, creating a more engaged, productive workforce for your organisation.

What should an employer consider when looking at financial wellbeing?

Financial stress doesn’t stay at home when employees clock in for work. Understanding what’s really happening in your employees’ financial lives is essential before implementing any financial wellbeing programs.

Here’s what truly matters when assessing your workforce’s financial landscape:

The employees’ financial position

This is the snapshot of where your employees’ current financial position is. Are they managing debts effectively or building assets? Do they have emergency savings? Nearly 40% of Australians couldn’t cover a $2,000 emergency without borrowing.

Your workforce spans multiple financial realities; from graduates with HECS debt to pre-retirees concerned about having enough money for their future. Understanding their financial situation is the first step to helping them gain control.

The employees’ daily expenses

The relentless juggle of everyday expenses creates immediate pressure. Housing costs, childcare payments, transportation, and essential services provided by the financial services industry consume significant portions of income.

Helping employees track their spending and effectively manage their bank accounts can reduce the stress of covering next week’s expenses that follow employees into meetings, impacting concentration and undermining engagement.

The employees’ financial goals

Beyond survival mode lies the aspirational side of financial wellbeing; meaningful goals that create a sense of progress. Whether it’s home ownership, education funds, debt freedom, or retirement planning, these priorities vary across life stages. When employees see no path toward their financial future, disengagement and turnover often follow.

The employees’ financial knowledge

The uncomfortable truth many employers miss: income doesn’t equal financial capability. Many employees lack confidence in fundamental financial concepts like superannuation, tax advantages and debt management. This knowledge gap creates anxiety and impacts mental health while preventing better financial decisions that could improve their overall position.

How can employers support financial wellness?

Supporting employee financial wellbeing requires a strategic approach that addresses both immediate pressures and long-term aspirations. Here are practical ways your organisation can make a meaningful difference:

• By offering financial resources and education, and access to qualified advisors, you can help employees strengthen their overall financial foundation
• Provide access to financial planning services that help team members at every career stage make informed decisions about their unique financial position
• Consider flexible pay options that better align with the timing of significant financial obligations to reduce the stress of managing cash flow.
• Implement comprehensive financial wellness programs that address both everyday expenses and emergency savings needs, helping employees build resilience against unexpected costs while working toward longer-term financial goals.
• Provide helpful tools like online guides for employees to create a personalised budget and gain control over their spending.

How does financial freedom support productivity in the workplace?

Financial wellbeing creates a powerful shift in how employees show up each day. Those with stronger financial positions approach their work from a place of security rather than scarcity.
The effects of financial wellness transform productivity in meaningful ways:

• Exceptional talent retention as high performers stay with employers who support their journey toward financial goals
• Reduced absenteeism when employees aren’t taking days off to manage financial emergencies
• Improved focus when your team isn’t mentally calculating whether they have enough money for upcoming expenses
• Greater discretionary effort as employees view their work as a pathway to financial freedom

​​When financial stress no longer holds your people back, their natural talents and motivations can truly shine.

Ready to improve your team’s financial wellbeing and boost workplace productivity? Watcn our expert-led webinar to discover practical strategies that support both your employees’ financial freedom and your organisation’s performance goals. 

Looking for custom advice? Explore our HR Advisory at Employment Hero, where our specialists can help design financial wellness initiatives tailored to your unique workforce needs and business objectives.