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  • Writer's pictureVictoria Wallis-Smith

What is financial wellbeing … and why employers should care

Financial wellbeing refers to the state of your financial health – your ability to manage money effectively, to make informed financial decisions, and to achieve your goals.

It’s a critical aspect of overall wellbeing, impacting every aspect of our lives, from our physical and mental health to relationships and career prospects.

Unfortunately, many struggle with financial stress, with a significant toll on wellbeing and productivity.

Financial Wellness. Adelaide Money Coach. Paycheck to Purpose. Workplace Financial Program.

This is where workplace financial wellbeing programs come in – helping employees improve financial literacy, manage debt, build savings, and plan for the future.

But what’s in it for employers and business owners?

Reduce financial stress

We all know that financial stress is a significant issue – and recent interest rises are only making matters worse – with many employees struggling to make ends meet.

According to a recent survey by AMP, almost one in three Australians admit to having financial stress, with half of those indicating that it impacts their work. This financial stress can lead to absenteeism and decreased productivity – that hits the bottom line of any business.

A financial wellbeing program – like Nutshell Money’s Paycheck to Purpose – can help to alleviate this stress by providing employees with the tools and resources they need to manage their finances effectively.

Be a better business

Financial wellbeing programs can have a positive impact on employee retention and recruitment and in today’s competitive job market, the little things differentiate your business from competitors.

What business doesn’t want to attract and retain staff?

So, show your employees you care about wellbeing and are committed to helping them achieve their financial goals by offering them a financial wellness program.

The bottom line

Let’s talk to elephant in the room – the return on investment (ROI).

According to a study by the Financial Planning Association of Australia, every dollar spent on financial education and support for employees can yield an ROI of up to six times by improving productivity and reducing absenteeism and lower healthcare costs.

What’s not to like about that?

Paycheck to Purpose

It’s human nature to want to help, so I know you want a financial wellbeing program in your workplace. But what if you’re a small-medium size business – no HR team to make it happen?

Don’t worry.

At Nutshell, it’s about making money simple so, good news – I’ve done the hard work for you.

Let’s look at the details of the Paycheck to Purpose program:

  • Four group workshops – delivered weekly or fortnightly.

  • Delivered at your business – so no lost travel time for your team.

  • Activities are built to engage and facilitate discussions – this is about action and making real change.

  • The program addresses managing money effectively, making informed financial decisions, and achieving goals – in other words, all the important stuff!

  • Suitable for everyone regardless of age, income, or financial position – because we all have the capacity to do better in everything we do, including money management.

Get in touch

If you’d like to discuss how the Paycheck to Purpose program can support financial wellbeing in your workplace, contact Victoria Wallis-Smith.


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