By Rob Maddison-Joss of Hillcrest Wealth Management

For most businesses, the staff they employ are their most important assets. Employee wellbeing is increasingly recognised as an essential element to ensure this crucial commodity – employees – are mentally and physically well which in turn supports the health of a business.

A key element of overall wellbeing is financial wellbeing, but this is often overlooked or poorly supported due to lack of expertise;

• 59% of employees surveyed state that financial matters are their primary cause of stress.
• 25% of employees have lost sleep over money worries.
• Although 84% of employers feel there is a need for financial education among employees, 60% do not provide financial education or guidance.
• Only 7% of employees said their employer offered face to face counselling and advice by specialist staff or external consultants.

The lack of provision for supporting financial wellbeing may be affecting any company;

• On average businesses lose £150 for every day lost through absenteeism caused by financial distress.
• 500,000 private sector workers have had to take time off in the last year due to their financial wellbeing, leading to a loss of over 4.2 million days of work.
• There is an estimated cost of £1.56 billion to UK employers due to low financial wellbeing causing absenteeism and presenteeism.

Hillcrest Wealth Management recognise these issues and have a financial education programme to help you support employees. This programme is not prescriptive, but tailored to an organisation, formed from 4 building blocks:

• Generic financial education workshops.
• Bespoke Workshops developed within an organisation.
• 1:1 consultations, with guidance provision.
• An E-Learning platform providing a scalable and distributable solution.

Our approach is:

• Using our financial knowledge and expertise, we will educate, guide and support employees so they feel better prepared to address their own finances.
• Working with companies, we will assess the demographics of an employee base, ensuring the most appropriate solution is recommended.
• Using this information, a programme will be tailored to the workforce.
• Delivered by knowledge and accredited advisors, you can be assured of the consistent quality. 
• Our ongoing support is part of a longer-term relationship.

if you would like to tell you more about the strong case for financial education, together with the solutions available through the Financial Education initiative, please contact Rob Maddison-Joss on rob.maddison-joss@sjpp.co.uk or www.hillcrestwm.co.uk

Rob Maddison- Joss is an experienced wealth management consultant who has worked with some of the most respected names in investment and finance, having had a long and successful history within the investment industry.

Hillcrest Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products.