Cost concerns hinder company action on staff financial wellbeing
Despite the recognition of the money challenges facing employees, getting financial wellbeing onto the board-level agenda is a challenge for HR professionals [and] reward professional, with experts urging corporate boards to tackle the area of financial wellbeing formally.
Mark Bingham, partner at financial education specialist Secondsight, says it can be hard to convince colleagues at board level about the cost benefits of investing in a financial wellbeing strategy. “The difficulty for HR… is proving to the financial directors that spending a little bit of money on this is a good idea,” he said.
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