Editorial for Thursday 25 June

With the economic slowdown resulting from the Covid-19 pandemic, the financial stress of many employees has increased. In this week’s issue, we’ve focused a lens on this pressing issue, with diverse insights and solutions both for companies and individuals.

In its annual Employee Financial Wellness Survey, PwC reveals which workers are currently most financially vulnerable and why. This article looks at steps employers can take to help their most vulnerable workers.

In a case study of global employer EXL Service, Hannah–Rebecca Findlay outlines the practical steps EXL has taken to ensure the financial wellbeing of its people is supported and the benefits the company has seen as a result of the investment.

For employers dealing with consumers, there is not only a responsibility to look after the wellbeing of their staff. Alice Rose of the Money & Mental Health Policy Institute outlines how companies can safeguard the financial wellbeing of their consumers through their Eight Covid-19 Customer Support Standards.

Women are being reported as one of the groups whose financial wellbeing has been most impacted as a result of the Covid-19 crisis. Tamara Gillan shared with us why this is, ways women can lean into gaining financial security and the benefits of female financial peer support networks. 

Speaking of gaining financial security, have you heard of financial therapy? It’s the latest trend for people trying to improve their psychological relationships with money to improve their spending and savings habits. Financial therapist, Lindsay Bryan-Podvin explains the benefits of using a financial therapist to improve financial wellbeing.

Finally, for employers, workers and financial health technology providers alike, Dr. Becky Inkster tells us about the latest innovations in this emerging field of ‘FinHealthTech’ and how it can be the future of safeguarding and supporting the financial health of employees and consumers.

We hope you find this week’s issue enjoyable and valuable!

Well wishes,                                                                                                                                                            Heather Kelly                                                                                                                                                            Online Editor, Make a Difference News


Sign up to receive Make A Difference's fortnightly round up of features, news, reports, case studies, practical tools and more for employers who want to make a difference to work culture, mental health and wellbeing.