By: Kuldeep Gupta
About the Author: Kuldeep Gupta is Head of Human Resources at Porteck Corporation. An IIM Lucknow alumnus and master trainer, he has over 18 years of experience managing human capital.
When we make decisions about money—how to spend it, how to earn it, how to save and grow it for the future—we are dealing with far more than numbers. Money is woven into the most intimate parts of our lives. It influences who we are, how we care for ourselves, and how we relate to others.
Money can also be a physical experience: certain financial events can trigger strong emotional and physiological reactions.
We all hope to work for the ideal employer with abundant in-kind benefits, but that is not always realistic. Focus on the aspects of your job you enjoy, avoid negative influences and gossip, and spend time with coworkers you appreciate.
Maintaining a consistently positive outlook sounds simple, but it is difficult if your financial health is unstable. Can you stay positive when financial worries are unaddressed?
Happiness and satisfaction are subjective. For some, monetary rewards equate to job satisfaction; for others, recognition and a sense of achievement are the primary motivators. A friendly, supportive work environment can be essential for deriving pleasure from a job. Whatever the specifics, career contentment is important for maintaining a healthy work-life balance.
So what is “Financial Wellness”?
Financial wellness is the process of learning how to manage expenses and resources effectively. Money plays a critical role in our lives, and lack of financial security can negatively affect health and work performance.
Many of us have experienced the awkward moment when someone asks for financial help and you want to assist but cannot because of your own constraints. Financial worries are one of the leading causes of stress. PwC’s 2017 Employee Financial Wellness survey found that 53% of employees are stressed about their finances.
Progressive employers recognize that financial stability is a pressing need for workers. A Barclays survey reported that 38% of employees would consider moving to a company that prioritizes financial wellbeing. The same research found that one in five employees want financial guidance from their employer.
How can employers support employees’ financial wellbeing? There are four practical approaches:
- Money Management Advice
Employers can offer guidance on budgeting, debt counseling, and coaching on debt consolidation. If these capabilities are not available internally, many external providers offer tailored programs for employees.
- Discount Schemes
Companies can register with loyalty and rewards schemes that allow employees to access discounts on a range of goods and services when they shop through those programs.
- Instant Cash Options
Providing access to low-cost, short-term cash solutions or payroll advances can give employees immediate relief for unexpected expenses, reducing financial anxiety and allowing them to focus on work.
- Loans & Savings Schemes
Research from the Social Market Foundation and Neyber shows nearly half of employees are not putting money aside beyond routine bills, and about one-third have no savings or investments. Employers can support saving behavior through workplace savings plans, matched contributions, or facilitated access to low-interest loans, helping employees build financial resilience.
Employers may find it challenging to understand every employee’s personal budget or financial situation. Still, offering thoughtful, practical support can make a meaningful difference. Importantly, employees value a positive overall workforce experience more than isolated perks—so ensure the financial wellbeing programs you offer deliver real value beyond purely monetary benefits.