Employers must deliver on financial inclusion

Earlier this month, the HM Treasury published its long-awaited Financial Inclusion Strategy, a national roadmap aimed at improving access to financial services for groups that are too often underserved.

For employers, this isn’t just another policy document; it’s a clear signal that workplace financial wellbeing is more important than ever, both for employees and for organisational resilience.

The strategy is built around six areas of focus:

• Digital inclusion - ensuring everyone can access financial services and tools
• Savings resilience - enabling people to build buffers for unexpected costs
• Insurance and protection - helping households manage life’s unpredictability
• Affordable credit access - reducing reliance on high-cost borrowing
• Support for problem debt - ensuring help is available early and without barriers
• Financial education - building confidence in managing money, decisions and planning

These issues are not theoretical.

They map directly to the lived experiences HR, People, and Wellbeing teams see every day, especially during times of economic instability.

Financial wellbeing isn’t just about pay; it’s about resilience, knowledge, and access. Areas where employers can make a meaningful difference.

The Treasury’s focus on payroll savings schemes and expanding initiatives like “Help to Save” reinforces what we’ve been highlighting in workplace financial wellbeing discussions.

Millions of employees remain financially vulnerable due to limited savings or reliance on high-cost credit.

Employers offering auto-enrolment or payroll-linked savings options can help their workforce build buffers against unexpected expenses.

Meanwhile, earned wage access (EWA) products offer a practical, inclusive solution to income volatility.

For shift workers, gig economy employees, and anyone with irregular pay, these tools reduce dependence on high-cost borrowing and directly support financial stability, exactly the outcomes the strategy seeks to achieve.

The strategy also recognises the value of employee benefits such as income protection, going beyond statutory sick pay.

Well-designed benefits aren’t just perks; they’re a core part of building a financially resilient workforce.

Supporting employees through unexpected financial challenges improves wellbeing, engagement, and retention, while contributing to national resilience.

Financial education is central to the strategy, and this is where employers have a huge opportunity.

Embedding personalised money guidance and literacy into the workplace isn’t a nice-to-have, it’s essential.

Financially informed employees make better decisions, experience less stress, and contribute more effectively to their organisations.

The Treasury’s plans to fund capability initiatives and expand guidance reinforce what we’ve long advocated: employers are crucial delivery partners in financial education.

Integrating financial literacy into workplace culture should be a priority for any HR or wellbeing strategy.

The word “employer” appears 18 times in the strategy for a reason.

HM Treasury recognises that improving financial inclusion isn’t just a government job.

It requires employers to step up.

By offering payroll savings, promoting benefits, and supporting financial education, workplaces can directly influence national financial resilience.

The Financial Inclusion Strategy isn’t just policy; it’s a call to action.

Employers have the chance - and responsibility - to align their financial wellbeing programmes with these national priorities.

Those that do will not only support their people but also contribute to a more financially inclusive and resilient society.

Leading organisations are already showing the way. And the Treasury’s strategy now gives all employers a clear framework to follow.

For HR leaders, payroll professionals and benefits teams, the message is simple.

Financial wellbeing must be a strategic priority.

The opportunity to make a meaningful impact - for your people and for the country - has never been greater.