Nine in 10 companies concerned about employee financial wellbeing

clock • 2 min read

Just over a quarter of employers have defined financial wellbeing strategies that include provision of financial benefits other than a pension, according to research by Barnett Waddingham

Some 88% of employers are concerned about the financial issues their employees are struggling with, but only half have a wellbeing strategy, research has found. In a survey by Barnett Waddingham of 243 UK firms in July, 37% said they were very concerned, and 51% were somewhat concerned, 8% were not concerned, while 4% were unsure. The consultancy found that the smaller employers and those in the recruitment sector were the least concerned. Some 20% of companies had one-to-49 employees, 10% had 50-99 employees, and 4% worked in HR. The other 66% had more than 100 employees, up to 5,000...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Employee Benefits

Seven in 10 employees pretending to be well at work

Seven in 10 employees pretending to be well at work

Money worries is top reason for hiding health concerns

Jaskeet Briah
clock 04 February 2026 • 2 min read
Chronic conditions are growing issue for employers

Chronic conditions are growing issue for employers

55% to renegotiate terms or switch benefit providers

Jaskeet Briah
clock 28 January 2026 • 2 min read
Managers struggling to discuss mental health: Unum UK

Managers struggling to discuss mental health: Unum UK

Key reason for time off

Jaskeet Briah
clock 21 January 2026 • 2 min read