“Fortunately, just like with people, it is possible to build a good relationship with money. That’s why promoting financial wellbeing isn’t just about adding more employee benefits or increasing salary, it’s about helping people to talk about money and to recognise their own financial goals, then giving them the information and tools to make it happen. This is best done through engagement and education.”
Everything rests on insights
The key to success is to better understand your employees; their interests, their motivations and the pressures they face – not just in work, but also in their home life. You can use one of the latest geodemographic tools like EQ’s Amplify Insight to achieve this.
Once you gain these rich insights, you can segment your audience and not only better design your overall benefit and wellbeing programme, but also tailor communication that is purpose-driven and relevant. Communication that helps ensure a culture of wellbeing is woven through everything – from management practice to learning and development. And that also helps nurture self-care, ensuring mental health, physical health and financial wellbeing education, tools and services are in place and easily accessible.
And, last but not least, insights help you pinpoint potential problem areas and better target support and services. This might involve a mix of benefits, services but also perhaps line manager training, for example. Hence why a holistic and integrated strategy is the only way to go. Doing ‘more’ benefit communication in isolation, or just focusing on a different wellbeing pillar per quarter is commonplace but, arguably, only serving to add to the already deafening and disparate noise.