The call for employer-driven Financial Wellbeing initiatives

THE CALL FOR EMPLOYER-DRIVEN FINANCIAL WELLBEING INITIATIVES

With the UK experiencing a highly competitive workplace environment where employers are increasingly under the spotlight to attract and retain the very best talent, Financial Wellbeing has shot up the list of benefits that employees value the most.  

Internally in the workplace, Financial Wellbeing has never been more important and with a worsening economic environment, now is the time to really consider a plug and play, individually bespoke, highly secure, digital solution that will empower your workforce to higher productivity, better engagement and improved corporate morale.  

Prift is that solution and the numbers don’t lie:  

• 61% of employees are now paying more attention to their financial benefits than they were 12 months ago. ¹
• 91% of employees say they would feel more invested in staying with an employer if the employer offered financial benefits that met their needs. ¹
• Employees are calling on their employers to offer financial wellbeing benefits, with one-third of employees ranking financial wellness as the employer benefit that they’d most like to see added at their organisation.
• 88% of people have used a Financial Wellness service where it was made available to them.

THE COSTS OF NOT TAKING ACTION – TURNOVER & PRODUCTIVITY  

• Turnover: 73% of employees whose financial stress has increased would be attracted to another company that cares more about Financial Wellbeing than their current company. ²
• Of the 29% of employees currently looking for a new job, 65% cite money as their primary reason. ²
• HR professionals cite similar concerns, with 79% reporting that their employees will leave for another job if their company does not offer financial benefits.

• ‍Productivity: All recent market studies indicate that financial stress impacts productivity.
• Morgan Stanley reported that 64% of people report that financial stress is negatively affecting their work and personal life.
• PWC identified that more than half of financially stressed employees who are distracted by their finances at work spend three hours or more each week dealing with personal money issues during work time. ‍

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‍TAKE FINANCIAL WELLBEING ACTION TODAY ‍

How can Prift help?‍

The first step to helping employees at all levels is to deploy Prift’s Financial Wellbeing solution. Prift is designed to help all employees at all levels of your organisation. Spotting a gap in the market for personalised financial guidance and using all of the advances in Open Finance and Open Banking, Prift is delivering the ultimate Financial Wellbeing package at a price point that makes securing a financial future and gaining financial literacy available to all.  

With no technology integration required into corporate systems, employees can immediately start to plug in their current and savings accounts, loans, credit cards, ISAs, pensions, mortgages and even house valuations to get a real-time view of their finances and, crucially, a projection into the future. Employees can also benefit from immediate savings on every day house expenses through shopping discounts at most high street retailers, restaurants and services.

Prift integration is simple, quick and easy... Embedding Prift into your employee benefits proposal is a cinch. No costly technology integrations. No set-up fees. No lengthy lead times. It’s as easy as signing an agreement per employee, sending us their email addresses, and simply let the Prift automated system do the rest - the most powerful Financial Wellbeing system in the UK today is ready to use.

‍What are you waiting for? Contact Us

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Reference:

1. State of the Workplace, Morgan Stanley At Work
2. PwC's 2023 Employee Financial Wellness Survey, PwC 2023

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