This document summarizes a report on financial well-being in the workplace. The report found that nearly half of employees worry about their finances, impacting their productivity at work. Younger generations feel less financially secure despite being at their peak earning years. While employees want more employer support for financial issues, most employers do not offer sufficient assistance. The report provides a four-step process for employers to understand employees' financial needs and develop strategies to improve financial well-being. Case studies demonstrate how supporting financial health can boost engagement and reduce absenteeism. In conclusion, the report argues that employers can no longer ignore how financial stress affects workplace performance.
The document provides background information on a report about the loan disbursement and recovery system of NCC Bank Limited in Bangladesh. It discusses the objectives, scope, methodology and limitations of the study. The study aims to understand NCC Bank's lending activities, products, terms and conditions as well as identify processes, problems and make recommendations for loan disbursement and recovery. It uses interviews and a survey of 30 officers and customers for primary data collection and analysis.
When selecting a recruiter for your company's search, the first decision you must make is whether to use a retained or contingency recruiter. This summary can help you make that decision.
La reunión del Grupo de Trabajo de Bibliotecas Infantiles y Juveniles discutió el establecimiento de pautas de actuación del grupo, los criterios de catalogación para libros infantiles y juveniles, y proyectos como el Portal de Bibliotecas e Irakurri 2007. Se analizaron problemas con la clasificación CDU y materias y se propuso más formación de catalogadores y revisión de los criterios como solución.
The document provides background information on a report about the loan disbursement and recovery system of NCC Bank Limited in Bangladesh. It discusses the objectives, scope, methodology and limitations of the study. The study aims to understand NCC Bank's lending activities, products, terms and conditions as well as identify processes, problems and make recommendations for loan disbursement and recovery. It uses interviews and a survey of 30 officers and customers for primary data collection and analysis.
When selecting a recruiter for your company's search, the first decision you must make is whether to use a retained or contingency recruiter. This summary can help you make that decision.
La reunión del Grupo de Trabajo de Bibliotecas Infantiles y Juveniles discutió el establecimiento de pautas de actuación del grupo, los criterios de catalogación para libros infantiles y juveniles, y proyectos como el Portal de Bibliotecas e Irakurri 2007. Se analizaron problemas con la clasificación CDU y materias y se propuso más formación de catalogadores y revisión de los criterios como solución.
65% of employees surveyed are considered "not financially well" based on their scores on a new Financial Wellness Score. While employees increasingly rely on employer-provided retirement and health benefits, many are still not taking full advantage of these benefits or prepared for retirement. Employees express a desire for more help and guidance from employers in improving financial wellness.
White Paper: Workplace Financial Education - The Benefits and Rewards of a Fi...Frank Wiginton
Financially stressed employees are less productive and cost companies more through increased absenteeism and presenteeism. Offering financial education in the workplace can help alleviate employee stress over finances and improve productivity. Studies show that financial stress contributes to declining employee engagement, mental health issues, and increased costs for employers. Financial education programs have been shown to reduce employee stress, boost engagement, lower absenteeism and health care costs, and improve the bottom line for companies.
Smart Hospitals Round Table Meet, Pune - Newsletter LimpidGist
SMART HOSPITALS has organized a Round Table Meet at Pune recently which was well attended.
Session was about empowering Small Hospitals to pick up early warning signals of Business Stress.
We are sharing the News Letter for your information.
We spent lot of efforts to conduct the Market Survey and to organise a program to educate the industry.
Hope you will like it.....
All we need is - FEEDBACK , after all that liking business...
Happy Reading !!!
White Paper: Financial Literacy for Employees - Understanding What Makes an E...Frank Wiginton
Part 1 in a 3 part series on defining financial literacy in the workplace. Part 1 explains what makes an effective financial education program for employees.
This document discusses the opportunity for employers to improve employees' financial wellness through workplace financial education programs. It notes that over 70% of adults feel stressed about money, which negatively impacts workplace productivity through absenteeism, health issues, and turnover. However, financial education programs can help employees better manage money and plan for retirement, reducing stress. This benefits both employees through increased financial security and employers through reduced expenses, higher productivity and retention, and less dependency on benefits. The document advocates for comprehensive, unbiased financial education delivered flexibly at the workplace by an accredited third party.
Many employees lack basic financial literacy skills, which leads to financial stress. This negatively impacts employee productivity and employer bottom lines. Statistics show that many employees do not budget properly, save little money, and struggle to pay bills and credit cards. As a result, over a third of employees spend some work time dealing with personal finances. Employers can help by providing financial wellness education and benefits to build a more financially secure workforce. This improves employees' financial health and reduces absenteeism and turnover, benefiting employers.
Part 3 in a 3 part series on defining financial literacy in the workplace. Part 3 walks you step by step through the process to successfully implementing an employee financial education program at your workplace.
1
Annotated Bibliography
2
Annotated Bibliography
Annotated Bibliography
Al-Khasawneh, A. L. (2014). The Role of Knowledge Resource Diversification Strategy Management in Improving Organizational Learning among Employees at the Commercial Islamic Banks in Jordan. International Business and Management, 8(2),101-111.
The publication by (Al-Khasawneh, 2014) gives invaluable insights on how the process of knowledge and information sharing can be of great importance in making any given organization realize efficiency; this the article highlights with reference to the banking sector. Al-Khasawneh also mentions that the benefits of knowledge resource diversification strategies cut across the entirety of the corporate divide and can be used successfully with any organizational manager that is looking to gain decent returns and maintain customer loyalty. With commercial Islamic banks in Jordan as a sure example, the author mentions that knowledge resource diversification strategy management can only be realized when an organization is willing to spend on Knowledge Management. Even though expensive in the short run, modern knowledge management systems often prove to be beneficial in the long run. Besides, the author recommend that any firm looking to realize knowledge diversification has to come up with a culture within the internal environment that is supportive to knowledge sharing.
Filson, D., & Olfati, S. (2014). The impacts of Gramm–Leach–Bliley bank diversification onvalue and risk. Journal of Banking & Finance, 41, 209-221.
Filson and Olfati, in their publication, give reasons as to why banks diversify their product lines every now and then. The author’s site that most banks diversify their product lines so as to encourage customers to take them up, ie to increase attractiveness and for the sake of helping customers to get customized product packages. Earlier, most banks noted that some customers were hesitant to do business with them solely because they were not sure of the risks involved and were doubtful of whether they would realize the value for their money. Bank diversification approaches such as the Gramm–Leach–Bliley bank come in to accord customers risk transference and better proceeds for their savings and investments.
Lam, T. Y., & Tipping, M. (2016). A case study of the investment yields of high street banks. Journal of Property Investment & Finance, 34(5), 521-534.
In their publication, Lam and Tipping interview various bank administrators on what diversification is all about and how the process is beneficial to banks or any other business. It is quite noteworthy that all the respondents interviewed gave responses that resonated; describing diversification as the process of increasing options for customers i.e. the realization of varied product lines. For most banks and businesses at large, diversification is a top priority because bad performance in or an economic slump affecting any one of the products will not be disastrous.
...
The document discusses a worksite financial solutions program that provides guidance to employees throughout their career on retirement, finances, and life goals. It offers education to increase financial awareness, advice to help employees understand and track goals in their retirement accounts, and transition support for employees changing jobs or retiring. The program aims to reduce employees' financial stress and help employers meet their fiduciary responsibilities.
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20MerrileeDelvalle969
Cover SheetProject Analysis By:Matthew PankeyBBA in Finance2011-2021MGT 4810 W1-W2 Fall 2022
Executive SummaryExecutive Summary Johnson & Johnson is a multinational American company with headquarters in New Bunswick, New Jersey. Medical devices, pharmaceuticals, and consumer health are the three main business sectors of Johnson & Johnson, which was founded in 1886. J&J is a Fortune 500 firm with about 250 subsidiary businesses that operate in more than 60 countries and sell goods in more than 175 nations. To stand out from rivals, Johnson & Johnson relies on its products and innovation. With the help of this company analysis, students can examine every facet of Johnson & Johnson's operations as consultants. This pertinent data may be used to shed light on how J&J might enhance internal and external operations while enhancing its financial performance and stockholder value. The Strategic Management textbook and other trustworthy sources, such as Johnson & Johnson's annual reports, investor website, and news releases, were used to compile all of the information for this research. Through this capstone project, students can examine pertinent corporate finances and gain knowledge about the potential pitfalls of their chosen career pathways.I was able to get substantial Microsoft Excel knowledge with this assignment, which will help me as I begin to improve my career-related skills. Due to the significant study and analysis required to create each tool, I also had to learn good time management techniques. When examining a company's financials and annual reports to estimate its value, I also feel as though I learned knowledge.
Table of ContentsTable of ContentsTool 1:Historical AnalysisPage 4Tool 2:Mission Statement AnalysisPage 5Tool 3:Remote Environment AnalysisPage 7Tool 4:Competitive Profile MatrixPage 12Tool 5:Internal Factor EvaluationPage 14Tool 6:CohesionPage 17Tool 7:Generic StrategyPage 20Tool 8:Perceptual MappingPage 22Tool 9:GlobalizationPage 23Tool 10:Financial Ratios and BenchmarkingPage 25Tool 11:SWOTPage 30Tool 12:Financing Recommendations for SWOTPage 35
Tool 1Historical AnalysisPurpose: Identify which strategies have historically been successful and how they have affected revenue by relating recent strategic events inside the company to consumer health, medicines, medical devices, and overall revenues. Findings from this research will be used in a SWOT analysis to identify strengths and weaknesses. Data was taken from yearly reports by Johnson & Johnson.YearsGross RevenueConsumer HealthPharmaceuticalMedical Devices2011$82,584$14,053$45,572$22,9592012$82,059$13,898$42,198$25,9632013$81,581$13,853$40,734$26,9942014$76,450$13,602$36,256$26,5922015$71,890$13,307$33,464$25,1192016$70,074$13,507$31,430$25,1372017$74,331$14,496$32,313$27,5222018$71,312$14,697$28,125$28,4902019$67,224$14,447$25,351$27,4262020$65,030$14,883$24,368$25,7792021$93,775$14,635$52,080$27,060Recent Strategic Events2, 3March 2011: Acquires Crucell, a biopharmac ...
This document outlines three steps to improve a company's competitive advantage by focusing on employee health and well-being. Step one is to gain buy-in from senior management by demonstrating how initiatives to improve workforce resilience can increase productivity and reduce absenteeism and staff turnover. Step two is to continuously reinforce the value of individual health and well-being to everyone in the organization. Step three is to nurture a healthy eating culture within the company. The document provides specific actions under each step and argues that small changes to support employee health can significantly benefit a business.
J008383 (4881) Employee absence report new v3Rosie Hewitt
The document summarizes research conducted by QBE among 50 senior HR professionals in the UK on employee absence. Key findings include that 72% of HR professionals did not know the daily cost of employee absence and 56% said investment in improving return to work rates has decreased. It provides tips for improving return to work rates through early intervention and rehabilitation. While NHS services aim to support returning employees, 64% of HR professionals felt they did not actively support this. The document advises utilizing rehabilitation services provided by employers' liability insurance and ensuring absence costs are understood to demonstrate the value of rehabilitation.
Many of your employees may not feel well but they aren't physically ill. Instead, what they lack is "financial wellness," a hot topic in many companies these days. In a nutshell, they're worried about making ends meet today as well as in the future, and that can take a toll on their productivity. Should you try to do anything about it? And, if so, what?
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20simisterchristen
The document provides an analysis of Johnson & Johnson conducted by Matthew Pankey for a BBA in Finance course. It includes 12 analysis tools examining J&J's history, mission statement, remote environment, competitors, internal/external factors, strategies, financials, and SWOT. The tools utilize data from annual reports, news, and textbooks to assess J&J's performance and recommend improvements. Key findings include opportunities in economic growth, talent acquisition, and consumer awareness for healthcare, as well as threats from regulations, inflation, and COVID-19.
The role of Managers in employee engagement : Champions, Saboteurs, Challengers, Prisoners. Discover how Leadership is crucial to drive Transformation : #
PeoplePerHour has embarked on its first comprehensive semi-annual self-employment report to determine the underlying market drivers and labour trends in this burgeoning segment of the labour force. Our analysis is two-fold in that we prepare an exhaustive questionnaire that drills down into the socio-economic aspects of self-employment both at home in the UK, and our broader global self-employed marketplace. The second component of our research involves a deep data-drive into our user-population to determine aspects such as average project duration, income, industry and average hours worked.
Semi-Annual Report on Self-Employment by PeoplePerHourKelly Bolton
PeoplePerHour has embarked on its first comprehensive semi-annual self-employment report to determine the underlying market drivers and labour trends in this burgeoning segment of the labour force. Our analysis is two-fold in that we prepare an exhaustive questionnaire that drills down into the socio-economic aspects of self-employment both at home in the UK, and our broader global self-employed marketplace. The second component of our research involves a deep data-drive into our user-population to determine aspects such as average project duration, income, industry and average hours worked.
Financial Education promises employers a return on investment of atlaest 1:4
i.e., for every one rupee spent in teching employees about their personal finance the organizations stands to gain 4 rupees directly.
To know more view the below presentation
The Business Case for Financial Education in the WorkplaceMarkDonnay
Handling everyday personal financial issues is becoming increasingly stressful for employees. They need our help.
Make financial literacy education-and-tools a key element of your wellness and assistance solutions.
You can effectively and efficiently address one of the more difficult challenges facing workforces today.
Enjoy the fruits of taking your wellness and assistance programs to the next level. Make the clear connection between a financially literate workforce and a healthier, more productive, stable, and easy to manage workforce.
More Related Content
Similar to Barclays Financial Wellbeing Precis Landscape
65% of employees surveyed are considered "not financially well" based on their scores on a new Financial Wellness Score. While employees increasingly rely on employer-provided retirement and health benefits, many are still not taking full advantage of these benefits or prepared for retirement. Employees express a desire for more help and guidance from employers in improving financial wellness.
White Paper: Workplace Financial Education - The Benefits and Rewards of a Fi...Frank Wiginton
Financially stressed employees are less productive and cost companies more through increased absenteeism and presenteeism. Offering financial education in the workplace can help alleviate employee stress over finances and improve productivity. Studies show that financial stress contributes to declining employee engagement, mental health issues, and increased costs for employers. Financial education programs have been shown to reduce employee stress, boost engagement, lower absenteeism and health care costs, and improve the bottom line for companies.
Smart Hospitals Round Table Meet, Pune - Newsletter LimpidGist
SMART HOSPITALS has organized a Round Table Meet at Pune recently which was well attended.
Session was about empowering Small Hospitals to pick up early warning signals of Business Stress.
We are sharing the News Letter for your information.
We spent lot of efforts to conduct the Market Survey and to organise a program to educate the industry.
Hope you will like it.....
All we need is - FEEDBACK , after all that liking business...
Happy Reading !!!
White Paper: Financial Literacy for Employees - Understanding What Makes an E...Frank Wiginton
Part 1 in a 3 part series on defining financial literacy in the workplace. Part 1 explains what makes an effective financial education program for employees.
This document discusses the opportunity for employers to improve employees' financial wellness through workplace financial education programs. It notes that over 70% of adults feel stressed about money, which negatively impacts workplace productivity through absenteeism, health issues, and turnover. However, financial education programs can help employees better manage money and plan for retirement, reducing stress. This benefits both employees through increased financial security and employers through reduced expenses, higher productivity and retention, and less dependency on benefits. The document advocates for comprehensive, unbiased financial education delivered flexibly at the workplace by an accredited third party.
Many employees lack basic financial literacy skills, which leads to financial stress. This negatively impacts employee productivity and employer bottom lines. Statistics show that many employees do not budget properly, save little money, and struggle to pay bills and credit cards. As a result, over a third of employees spend some work time dealing with personal finances. Employers can help by providing financial wellness education and benefits to build a more financially secure workforce. This improves employees' financial health and reduces absenteeism and turnover, benefiting employers.
Part 3 in a 3 part series on defining financial literacy in the workplace. Part 3 walks you step by step through the process to successfully implementing an employee financial education program at your workplace.
1
Annotated Bibliography
2
Annotated Bibliography
Annotated Bibliography
Al-Khasawneh, A. L. (2014). The Role of Knowledge Resource Diversification Strategy Management in Improving Organizational Learning among Employees at the Commercial Islamic Banks in Jordan. International Business and Management, 8(2),101-111.
The publication by (Al-Khasawneh, 2014) gives invaluable insights on how the process of knowledge and information sharing can be of great importance in making any given organization realize efficiency; this the article highlights with reference to the banking sector. Al-Khasawneh also mentions that the benefits of knowledge resource diversification strategies cut across the entirety of the corporate divide and can be used successfully with any organizational manager that is looking to gain decent returns and maintain customer loyalty. With commercial Islamic banks in Jordan as a sure example, the author mentions that knowledge resource diversification strategy management can only be realized when an organization is willing to spend on Knowledge Management. Even though expensive in the short run, modern knowledge management systems often prove to be beneficial in the long run. Besides, the author recommend that any firm looking to realize knowledge diversification has to come up with a culture within the internal environment that is supportive to knowledge sharing.
Filson, D., & Olfati, S. (2014). The impacts of Gramm–Leach–Bliley bank diversification onvalue and risk. Journal of Banking & Finance, 41, 209-221.
Filson and Olfati, in their publication, give reasons as to why banks diversify their product lines every now and then. The author’s site that most banks diversify their product lines so as to encourage customers to take them up, ie to increase attractiveness and for the sake of helping customers to get customized product packages. Earlier, most banks noted that some customers were hesitant to do business with them solely because they were not sure of the risks involved and were doubtful of whether they would realize the value for their money. Bank diversification approaches such as the Gramm–Leach–Bliley bank come in to accord customers risk transference and better proceeds for their savings and investments.
Lam, T. Y., & Tipping, M. (2016). A case study of the investment yields of high street banks. Journal of Property Investment & Finance, 34(5), 521-534.
In their publication, Lam and Tipping interview various bank administrators on what diversification is all about and how the process is beneficial to banks or any other business. It is quite noteworthy that all the respondents interviewed gave responses that resonated; describing diversification as the process of increasing options for customers i.e. the realization of varied product lines. For most banks and businesses at large, diversification is a top priority because bad performance in or an economic slump affecting any one of the products will not be disastrous.
...
The document discusses a worksite financial solutions program that provides guidance to employees throughout their career on retirement, finances, and life goals. It offers education to increase financial awareness, advice to help employees understand and track goals in their retirement accounts, and transition support for employees changing jobs or retiring. The program aims to reduce employees' financial stress and help employers meet their fiduciary responsibilities.
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20MerrileeDelvalle969
Cover SheetProject Analysis By:Matthew PankeyBBA in Finance2011-2021MGT 4810 W1-W2 Fall 2022
Executive SummaryExecutive Summary Johnson & Johnson is a multinational American company with headquarters in New Bunswick, New Jersey. Medical devices, pharmaceuticals, and consumer health are the three main business sectors of Johnson & Johnson, which was founded in 1886. J&J is a Fortune 500 firm with about 250 subsidiary businesses that operate in more than 60 countries and sell goods in more than 175 nations. To stand out from rivals, Johnson & Johnson relies on its products and innovation. With the help of this company analysis, students can examine every facet of Johnson & Johnson's operations as consultants. This pertinent data may be used to shed light on how J&J might enhance internal and external operations while enhancing its financial performance and stockholder value. The Strategic Management textbook and other trustworthy sources, such as Johnson & Johnson's annual reports, investor website, and news releases, were used to compile all of the information for this research. Through this capstone project, students can examine pertinent corporate finances and gain knowledge about the potential pitfalls of their chosen career pathways.I was able to get substantial Microsoft Excel knowledge with this assignment, which will help me as I begin to improve my career-related skills. Due to the significant study and analysis required to create each tool, I also had to learn good time management techniques. When examining a company's financials and annual reports to estimate its value, I also feel as though I learned knowledge.
Table of ContentsTable of ContentsTool 1:Historical AnalysisPage 4Tool 2:Mission Statement AnalysisPage 5Tool 3:Remote Environment AnalysisPage 7Tool 4:Competitive Profile MatrixPage 12Tool 5:Internal Factor EvaluationPage 14Tool 6:CohesionPage 17Tool 7:Generic StrategyPage 20Tool 8:Perceptual MappingPage 22Tool 9:GlobalizationPage 23Tool 10:Financial Ratios and BenchmarkingPage 25Tool 11:SWOTPage 30Tool 12:Financing Recommendations for SWOTPage 35
Tool 1Historical AnalysisPurpose: Identify which strategies have historically been successful and how they have affected revenue by relating recent strategic events inside the company to consumer health, medicines, medical devices, and overall revenues. Findings from this research will be used in a SWOT analysis to identify strengths and weaknesses. Data was taken from yearly reports by Johnson & Johnson.YearsGross RevenueConsumer HealthPharmaceuticalMedical Devices2011$82,584$14,053$45,572$22,9592012$82,059$13,898$42,198$25,9632013$81,581$13,853$40,734$26,9942014$76,450$13,602$36,256$26,5922015$71,890$13,307$33,464$25,1192016$70,074$13,507$31,430$25,1372017$74,331$14,496$32,313$27,5222018$71,312$14,697$28,125$28,4902019$67,224$14,447$25,351$27,4262020$65,030$14,883$24,368$25,7792021$93,775$14,635$52,080$27,060Recent Strategic Events2, 3March 2011: Acquires Crucell, a biopharmac ...
This document outlines three steps to improve a company's competitive advantage by focusing on employee health and well-being. Step one is to gain buy-in from senior management by demonstrating how initiatives to improve workforce resilience can increase productivity and reduce absenteeism and staff turnover. Step two is to continuously reinforce the value of individual health and well-being to everyone in the organization. Step three is to nurture a healthy eating culture within the company. The document provides specific actions under each step and argues that small changes to support employee health can significantly benefit a business.
J008383 (4881) Employee absence report new v3Rosie Hewitt
The document summarizes research conducted by QBE among 50 senior HR professionals in the UK on employee absence. Key findings include that 72% of HR professionals did not know the daily cost of employee absence and 56% said investment in improving return to work rates has decreased. It provides tips for improving return to work rates through early intervention and rehabilitation. While NHS services aim to support returning employees, 64% of HR professionals felt they did not actively support this. The document advises utilizing rehabilitation services provided by employers' liability insurance and ensuring absence costs are understood to demonstrate the value of rehabilitation.
Many of your employees may not feel well but they aren't physically ill. Instead, what they lack is "financial wellness," a hot topic in many companies these days. In a nutshell, they're worried about making ends meet today as well as in the future, and that can take a toll on their productivity. Should you try to do anything about it? And, if so, what?
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20simisterchristen
The document provides an analysis of Johnson & Johnson conducted by Matthew Pankey for a BBA in Finance course. It includes 12 analysis tools examining J&J's history, mission statement, remote environment, competitors, internal/external factors, strategies, financials, and SWOT. The tools utilize data from annual reports, news, and textbooks to assess J&J's performance and recommend improvements. Key findings include opportunities in economic growth, talent acquisition, and consumer awareness for healthcare, as well as threats from regulations, inflation, and COVID-19.
The role of Managers in employee engagement : Champions, Saboteurs, Challengers, Prisoners. Discover how Leadership is crucial to drive Transformation : #
PeoplePerHour has embarked on its first comprehensive semi-annual self-employment report to determine the underlying market drivers and labour trends in this burgeoning segment of the labour force. Our analysis is two-fold in that we prepare an exhaustive questionnaire that drills down into the socio-economic aspects of self-employment both at home in the UK, and our broader global self-employed marketplace. The second component of our research involves a deep data-drive into our user-population to determine aspects such as average project duration, income, industry and average hours worked.
Semi-Annual Report on Self-Employment by PeoplePerHourKelly Bolton
PeoplePerHour has embarked on its first comprehensive semi-annual self-employment report to determine the underlying market drivers and labour trends in this burgeoning segment of the labour force. Our analysis is two-fold in that we prepare an exhaustive questionnaire that drills down into the socio-economic aspects of self-employment both at home in the UK, and our broader global self-employed marketplace. The second component of our research involves a deep data-drive into our user-population to determine aspects such as average project duration, income, industry and average hours worked.
Financial Education promises employers a return on investment of atlaest 1:4
i.e., for every one rupee spent in teching employees about their personal finance the organizations stands to gain 4 rupees directly.
To know more view the below presentation
The Business Case for Financial Education in the WorkplaceMarkDonnay
Handling everyday personal financial issues is becoming increasingly stressful for employees. They need our help.
Make financial literacy education-and-tools a key element of your wellness and assistance solutions.
You can effectively and efficiently address one of the more difficult challenges facing workforces today.
Enjoy the fruits of taking your wellness and assistance programs to the next level. Make the clear connection between a financially literate workforce and a healthier, more productive, stable, and easy to manage workforce.
Similar to Barclays Financial Wellbeing Precis Landscape (20)
The Business Case for Financial Education in the Workplace
Barclays Financial Wellbeing Precis Landscape
1. A Summary of
Financial Well-being:
The Last Taboo
in the Workplace?
Why organisations cannot afford to ignore
the financial health of their employees
2. 2
Financial Well-being: The Last Taboo in the Workplace? tackles
the crucial but often overlooked issue of financial well-being in the
workplace.
The report explores the concept of financial well-being, described as:
‘Being and feeling financially healthy and secure, today and for the
future’ and considers why talking about money and personal finances
has long been seen as a taboo subject, particularly in the workplace.
By looking at the financial ‘state of the nation,’ the report considers how
financially healthy employees actually feel today. As well as looking at the generational differences
that exist, the research also investigates whether employees feel supported by their employers
when it comes to financial well-being. Comparing this to how employers themselves think they’re
doing in this area, the report asks, in reality, are employers helping or hindering?
Crucially, the report highlights the impact of poor financial well-being on employee engagement
and productivity and the potential knock-on effect on company performance. In busting some of
the myths around financial well-being, the report is designed to help employers understand why
financial well-being should be on their radar.
The insights gained from a YouGov survey of over 2,000 British employees from across a wide
range of sectors will help organisations understand the financial support employees want and
need. This is supplemented by a four-stage process and a range of solutions designed to tackle
the financial well-being taboo. The starting point is developing a deep understanding of employee
needs, which will then allow you to build the business case and then enable you to design of a
financial well-being strategy to meet the needs of your workforce. The report is rich in practical
solutions to address and improve financial health of your workforce.
Company case studies in the report illustrate success stories of how financial well-being is being
addressed and share key learnings and tips from which other organisations can benefit.
Financial Well-being: The Last Taboo in the Workplace? is essential reading for any employer
wanting to truly address all aspects of well-being in the workplace.
Financial Well-being: The Last Taboo in the Workplace?
tackles the pressing issue of financial well-being, a frequently
overlooked but crucial part of employees’ overall well-being.
This summary is designed to give an overview of the content of
the full report and to increase awareness of the issues currently
facing employees across Britain.
The full report includes:
In-depth research based on a survey of 2,000 employees from Great Britain to paint a picture
of the financial health of today’s workforce
Behavioural Finance insights into the significant psychological impact on employees of poor
financial well-being
Extensive evidence to explain why employees should care about financial well-being –
its impact on engagement, productivity and risk
A practical toolkit which details a four-stage process including real solutions to improving
your employees’ financial well-being
Company case studies to inspire and motivate you and your organisation – there are things you
can be doing, and things you should stop doing to improve your employees’ financial health
Overview of the report
1
“ For the first time on record, the majority of
people in poverty are in working families.”
Joseph Rowntree Foundation,
Monitoring Poverty and Social Inclusion
Why read this report?
• Because 1 in every 10 of your employees is struggling financially – but won’t tell you this
• Because those employees with financial worries say their work is being impacted –
they are distracted and productivity is suffering
• Because poor financial well-being can impact the bottom line - you can’t afford to ignore
the taboo of financial well-being
Douglas Johnson-Poensgen
Managing Director, Workplace Banking & ClearlyBusiness
Barclays
3. 3 4
Chart 1:
A snapshot of the financial health of our respondents
Based on our research, this chart gives an overview of the financial health of our survey
respondents and looks at how this impacts them at work. It also looks at how the different
generations of today’s workforce fit into the four different financial health segments.
Key: Baby Boomers Generation X Generation Y
SlippingBalancingCoastingComfortable
* Generational spread across segments totals 100% for each generation
Definition
Financially savvy
and secure
Financially secure but
not saving regularly
Able to manage finances
in the short-term
Struggling to make ends
meet with little savings
% of respondents
16% 14% 59% 11%
Generational spread*
23% 15% 10% 22% 12% 10% 47% 61% 67% 8% 12% 13%
Median salary
£25k - £30k £20k - £25k £20k - £25k £15k - £20k
Median savings buffer 1 year + 1 year + 1–3 months No savings
Needed to borrow from
friends/family 0% 1% 7% 61%
Made lifestyle sacrifices
to save money 22% 18% 42% 68%
Planned and followed
a monthly budget 35% 16% 25% 26%
Set financial goals 69% 49% 45% 35%
I sometimes find it hard to
concentrate on work as I am
thinking about my finances
1% 3% 8% 32%
Worrying about my
finances has made me
less productive at work
0% 3% 6% 22%
Financial problems offen
interfere in my work 2% 5% 8% 23%
Demographics
Financial
behaviours in the
last 12 months
Workplace
impact in the
last 12 months
4. 5 6
Dispelling
common myths
Employees:
How financially healthy
do they feel today?
Employers:
Why should financial
well-being be on
their agenda?
Employers:
Are they helping or
hindering financial
well-being?
What does the research tell us? Solutions - How can Barclays help?
KEY FACT
The full report contains detailed analysis of each of the three key
questions asked:
The report details a number of practical actions employers
can take to improve the financial well-being of all employees.
The report advocates thinking about solutions based on the
financial health and ‘generation’ split of your workforce, and
personalising solutions accordingly.
of employees worry
about their finances
Almost half
• 1 in 5 lose sleep worrying
about their finances
• Generation X are the most
financially out of control
generation despite many
being at their earning peak
• 38% of employees said
that they would move to a
company which put financial
well-being as a priority
• Engagement, productivity
and risk are key items
on your agenda which
financial well-being can
have a significant impact on
• 1 in 5 said they
would value broader
financial guidance,
debt management and
counselling if they were
in financial hardship
• A sustainable solution is not
just about ‘paying more’
Employees don’t leave their
financial worries at the door
when they arrive at work.
The impact on the workplace
is significant and has a real
effect on the bottom line,
more than employers realise.
Employers need to do more
and instinctively want to, but
many are only just beginning
to think about financial well-
being and are unsure how to
address it.
KEY FACT KEY FACT
Lost productivity
Almost
80%of employees are
not satisfied with the
efforts of their employer
when it comes to
managing their finances
impacts the bottom line
BY 4%
as a result of the effect
on work of employees
worrying about
their finances We can help you put this into context
for your organisation and help you set
your strategy and priorities to ensure
maximum engagement with your
employees in the right way.
Not just about
what you can start
doing, but also what you
should stop doing.
A sustainable solution is
not just about paying more
The cost
of absence
Four stage process
to increasing financial
well-being
Bandwidth
capacity
Disconnected
perception