2018 Financial Wellbeing Study
Across the globe, employers are increasingly recognising that wellbeing is a critical component of their employees’ – and their organisation’s – ability to succeed.
At Aon, we generally see clients looking at wellbeing in four distinct areas:
- Physical – so employees have the energy to achieve the tasks that are essential to their roles
- Emotional – encompassing an employees’ ability to take a measured attitude to everyday tasks
- Social – which is derived from connections to other
- Financial – recognising the ability for employees to confidently manage their finances, both currently and in the future.
Financial wellbeing is commonly defined as, “Giving people the tools they need to handle their own financial decisions,” however unfortunately it is not often that simple. Globally, there are a number of challenges in the area of financial wellbeing. Many individuals are grappling with various forms of debt, they do not have sufficient assets for retirement, and they face risks that an unexpected life event could create a major financial setback.
For these reasons, we recently carried out our first global Financial Wellbeing Study for 2018, which we are delighted to share. With wellbeing as a whole becoming a growing concern for employers, we have taken a specific look at financial wellbeing, which is increasingly being recognised as a key component to overall wellbeing.
As you will discover, the study seeks to define and explore financial wellbeing, by putting it into context. We ask: what is employee wellbeing as a whole? How does financial wellbeing fit into this picture? Why is financial health coming into the spotlight at this point in time?
With unprecedented financial pressure on employees – alongside an increased awareness of the impact of unmanaged stress on employee productivity and engagement – it is time for employers to take action.
In this report, you will discover what strategies multinational employers are taking, what benefits organisations are seeing from tackling financial wellbeing issues, what you can do to address the financial challenges your employees face, and much more.
We trust that the study will provide you with meaningful insights and help you shape your future global strategies.
Download the report here.