Nearly 40% of employers offer just four or fewer types of financial support and have no plans to expand.
That’s the striking finding from new research from Hymans Robertson.
At the same time, 61% of employees say better financial wellbeing support would make them more likely to stay with their organisation.
That is a huge missed opportunity.
Financial wellbeing is not just a nice perk, it is a way to build loyalty, engagement and long-term performance.
Money worries at work are visible
Money stress does not stop at the office door.
When employees are worried about finances, it shows up at work.
Productivity dips, absence rises, engagement falls and turnover increases.
Many organisations still rely on low-cost, generic solutions such as a discount portal, a one-off webinar or standard pension contributions.
The reality is employees want more than generic perks.
They want practical, personal support, help building emergency savings, tools to manage everyday budgets and guidance they can actually use.
Small changes can have a big impact
You do not need a limitless budget to make a difference.
Even modest adjustments can shift perceptions and improve retention.
Reviewing pension flexibility, improving communications around existing benefits, sharing more of the national insurance savings from salary sacrifice schemes and removing unnecessary eligibility barriers on protection benefits all show employees that their financial wellbeing matters.
These changes make employees feel valued and supported, and they are more likely to stay.
Building a financial wellbeing ecosystem
Forward-thinking employers are moving beyond isolated benefits to create a connected financial wellbeing ecosystem.
Accessible budgeting and planning tools, responsible early wage access, personalised guidance on pensions and clear communications all work together to deliver meaningful support.
When financial wellbeing is integrated, accessible and measurable, it moves from being a perk to a strategic advantage.
It reduces turnover, boosts engagement and helps your workforce thrive.
Acting now matters
In today’s competitive labour market, pay alone is not enough.
Employees want to feel secure and supported.
The research is clear. 61% would stay longer if their employer got financial wellbeing right.
Financial wellbeing is not a nice-to-have, it is a retention strategy, a performance tool and a competitive differentiator.
The question for employers is simple.
Are you listening and acting before your competitors do?
Written by Caroline Chell
Head of Communications
