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We all know that happy employees are productive employees. But what makes employees happy? A recent survey by PricewaterhouseCoopers found that financial wellbeing is one of the most important factors in employee happiness. In fact, 78% of respondents said that financial stress affects their work performance.

So what is financial wellbeing? Financial wellbeing is a state of being wherein an employee has control over their current and future finances. Employees who feel financially secure are more likely to be engaged and productive at work. Conversely, employees who are stressed about their finances are more likely to have difficulty concentrating, experience absenteeism, and even leave their jobs altogether.

The Cost of Financial Stress

The cost of financial stress on businesses is significant. According to the PwC survey, 36% of respondents have missed work because of financial stress, and 23% have made errors at work because of it. In addition, 46% of respondents said they spend at least 3 hours each week thinking about personal finances while at work. That’s 3 hours that could be spent working on projects, developing new ideas, or providing customer service.

Furthermore, financial stress doesn’t just impact an individual’s work performance; it can also lead to health problems. According to the American Psychological Association, 49% of employees say money is a significant source of stress, and 72% say that stress has a negative impact on their physical health. Stress can lead to a host of health problems including anxiety, depression, high blood pressure, heart disease, and more. And when employees are dealing with health problems, they’re more likely to miss work—further adding to the cost of financial stress on businesses.

How You Can Help Your Employees Improve Their Financial Wellbeing

So what can you do to help your employees improve their financial wellbeing? Here are a few ideas:

-Offer financial wellness programs: These programs can provide employees with resources and education on topics like budgeting, saving for retirement, and managing debt.

-Encourage transparency: Employees should feel comfortable talking about money with their managers and HR representatives. open communication will help identify any financial concerns early on so they can be addressed before they become bigger problems.

– (If you have American employees) Provide flexible spending accounts: Flexible spending accounts (FSAs) can help employees cover out-of-pocket healthcare expenses like doctor’s visits, prescription drugs, and dental care. This can relieve some of the financial strain associated with these costs and allow employees to focus on their work rather than worry about how they’ll pay for necessary medical care. 

-Lead by example: As a leader or manager, you should attend and encourage your team to attend financial wellness programs.


Financial wellbeing is essential for employee happiness and productivity—and it’s something that every business should care about. By offering financial wellness programs, encouraging transparency around money matters, and providing flexible spending accounts, you can help your employees improve their financial wellbeing—and in turn improve your bottom line.

Ready to consider financial education and coaching for your colleagues? Get in touch with one of our experts today!

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