Financial stress kills productivity and profit
In an era where employee well-being is paramount to business success, financial stress emerges as a silent saboteur, undermining productivity, morale, and ultimately profitability. According to PwC’s Annual Employee Financial Wellness Survey, the toll is measurable and significant:
78% of employees are considering leaving for companies that prioritize financial well-being, with 4.8% loss in gross profits due to decreased productivity, and a stark 156 hours lost to distraction at work per employee each year.
In addition to lost hours, businesses have found that the cost of replacing an employee to be quite significant as time required for onboarding, training, and the delay before an employee is productive can add to the productive hours lost for a business.
Businesses understand that keeping an employee keeps costs down whilst losing an employee often has not only time consequences, but impacts key relationships that may impact the revenue of the business.
Wealthbit’s Financial Freedom Programme is not just a response but a proactive blueprint for cultivating a resilient and prosperous workforce. "Our aim is to transform the workplace into a source of financial empowerment, not stress," says Alex Cook, CEO of Wealthbit. "We guarantee not just engagement, but a tangible improvement in your employees' financial health.” Progress is not just hoped for; it's visible and measurable. Our digital dashboard provides real-time insights into your team's financial health, tracking improvements and highlighting areas for further support. Seeing is believing. Our dashboard brings the invisible into visibility, charting a course from financial stress to stability and success.
The Financial Freedom Programme is a catalyst for change, offering immediate improvements in productivity and staff retention while positioning your company as a desirable place to work. It’s comprehensive, including everything from Wealthbit access, a bespoke financial wellbeing dashboard, engaging workshops, to personalized coaching from accredited professionals. It’s not just a once off thing.
Central to our approach is a commitment to financial literacy, laying the foundation for informed, confident employees. "Financial literacy is the cornerstone of financial freedom. Our programme is designed to make complex financial concepts accessible and actionable," remarks Arrie Pieterse, Head of Product for Wealthbit. Through practical education, we demystify finances, enabling employees to make decisions that lead to long-term wellbeing. Ultimately leading to a more profitable business.
"The journey from financial stress to freedom is a shared one. We’re not just providing tools; we’re partnering with businesses to proactively foster environments where employees can prosper," says Arrie Pieterse. This programme isn’t just about alleviating stress; it’s about unlocking potential, driving productivity, and cultivating a culture of wellbeing and success.
Implementing the Financial Freedom Programme means embracing a future where your business is known not just for what it does, but how it cares for its people. Join us on this transformative journey, and let's build a future where financial freedom is not just a dream, but a daily reality for your team.