Financial Well Being: Money Boost

1. Financial Well Being: Money Boost Jamie Mackenzie Marketing Director Sodexo Benefits & Rewards Services BENEFITS & REWARDS SERVICES 2. page 2 3. Borrowing to Spend Average consumer borrowing per adult in the UK is twice the European average (3,175 vs 1,588). (Datamonitor 2013) 4 in 10 households have got unsecured borrowing of which 10% face problems with debt repayment. (Sodexo 2013) 108,000 18 to 24-year-olds have credit card debts of more than 5,000 (One Advice) 4. What is the Impact? The Barclays report, Financial Wellbeing: The Last Taboo in the Workplace?, is based on a survey of over 2,000 UK employees. UK workers admit that worries about their personal finances affect their performance at work Almost half of workers are worried about their financial future, with only 35% feeling optimistic For 18% of employees, the situation is so bad it regularly causes them to lose sleep Around 1 in 10 employees are categorised as financially slipping (having no savings and regularly spending more than they earn) 5. We Dug Deeper .. page 5 6. We Dug Deeper .. page 6 79%of employers agree that helping employees manage their finances would form part of their HR goals 76%of employers agree that helping employees manage their finances meets their organisations CSR objectives agree that helping employees manage their finances will help to reduce employee stress levels and improve work performance 7. page 7 Affordability, borrowing and debt Desire to support employees: money management 1 3 Money worries and financial stress impacting the workforce2 In Summary 8. ? page 8 ? So what is out there 9. Innovation page 9 The Concept Online Money Management Financial Goals Achievable and Affordable (Payroll) Reduce Financial Stress The Reaction Almost 80% employers would offer it Over 70% employees would use it 10. page 10 11. b page 12 Simple for you and your employees 12. A more engaged workforce Reduced Financial Stress Increased Retention 1 3 Enhanced Productivity2 Increased Engagement4 13. page 14 Come and see us on our stand