Financial wellbeing support: Where is the boundary for employers?

The employer-employee relationship is one of the most important financial relationships. With the recent period of high inflation and ongoing economic uncertainty, many workers find themselves in fragile financial situations.

This has led to growing pressure on employers to enhance their financial support. Pressure comes from various sources: employees themselves, competitors, innovative financial wellbeing providers, government and regulatory initiatives, and a genuine desire to support their teams and the business.

How the employer/employee relationship is changing around financial wellbeing

In the past, the relationship between employers and employees was mostly transactional.

Today, both sides have evolved expectations. Employees seek workplaces that are safe, flexible, and inclusive. Employers understand that their employees are individuals with complex lives and diverse needs. Workplaces are now viewed as communities that should provide comprehensive support, beyond just a paycheck.

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