Employee wellbeing report

Pensions & benefits Financial wellbeing Personal finance

Using our research gathered during the last five years, from over 50,000 UK employees and 2,000 employers, we take a look back to examine the evolution of financial wellbeing in our latest report.

Building brighter financial futures together

Using our research gathered during the last five years, from over 50,000 UK employees and 2,000 employers, we take a look back to examine the evolution of financial wellbeing in our latest report.

As employees deal with managing their everyday money as well as their future financial planning, the value of financial education has seen a rise in the past five years. Employees are increasingly looking to utilise the workplace to support their holistic finances.

From identifying and understanding the challenges facing employees, we can support organisations to build meaningful strategies that can support the financial confidence and capability of their workforce.

We hope that this report inspires you on your journey to support employees' financial wellbeing and knowledge building.

Building brighter financial futures together

Explore the report

Scroll down to explore our key findings

Some of our key findings

41%

of employees say that financial worries impact their job performance
72%

of employees agreed that pensions and flexibility remain the most valued benefits
57%

of employees are interested in financial education, up from 46% over the past five years
53%

of employees feel they lack control over their financial future
8%

increase of employees' feeling very confident about their retirement planning
9%

decrease in the number of employees with savings lasting more than 12 months

How employers can support their employees

Whilst we can celebrate the steps employers have taken to support the wellbeing of their employees over recent years, we still have a way to go to ensure financial confidence and capability improves across the nation.

Pensions are still high on the agenda being the most valued benefit for those in their mid and late-careers, with half of those surveyed saying that they felt financial education in the workplace would aid their retirement planning.

To help employees build better financial futures, employers need to focus on:

Understand the challenges and needs of employees including those in different demographic groups
Review benefit offering and strategy for relevance, accessibility, and impact to build value-add and engagement
Tailor education, guidance and support to career stages and life events to maximise return on investment.

We hope the findings and actions contained throughout this report provide meaningful insights into how employees feel and help you to consider ways to support them. We look forward to discussing these findings and strategies to improve wellbeing for your employees in more detail.

Whilst firms cannot give financial advice, they can make sure that employees are signposted to sources of guidance and advice, and can make sure that communications reflect the diverse circumstances of their staff.

Steve Webb Former Pensions Minister and Partner, LCP