(REBA) The Reward & Employee Benefits Association, in association with WEALTH at work has launched its new workplace Financial Wellbeing Research 2022. Based on responses from nearly 300 companies representing around 1 million employees, it found that cost of living concerns are dominating the risks to the workforce’s financial wellbeing 
Employers cited rising energy prices as the number one risk to the financial wellbeing of their staff (91%). Contributing factors found towards employee cost of living concerns were – rising consumer inflation (81%), rising rent costs (63%), wages not being high enough to cover the cost of living (50%), and high household debt levels (49%). In addition, given the recent interest rate hikes, many may now also be concerned about mortgage costs as interest rates could head even higher. 
Worrying about money can cause stress and anxiety, which are likely to manifest at work. The latest figures from the CIPD/Simplyhealth Health and Wellbeing at Work report have revealed that:  
Taking action and supporting employees during the cost-of-living crisis, will ultimately support good mental health and will likely protect productivity. There are many ways that workplaces can help demonstrate commitment to supporting their employees best during these challenging times and beyond.
Here are some of our most popular sessions that can help offer guidance and support to your employees throughout the cost-of-living crisis –
How to be Better with Money
- An introduction to budgeting, debt, savings, investments, money-saving tips and maximising government help and grants.
- Borrowing basics, how to prioritise and consolidate debt, debt help, and budgeting for the future.
- A look at the relationship between money and health, the cost-of-living increases we can expect for this tax year, 10 tips you can follow to manage your finances and finish off with an action Plan and Q&A.
How to improve your Credit Rating
- Why your credit rating is important, the information used to calculate your credit score, and the steps to take to improve it.
Help for First-Time Home-Buying
- How to increase your chances of mortgage success and the pitfalls to avoid.
Starting Out Right
- A guide for graduates to understand choosing the right bank account, paying off student finance, and understanding your payslip.
Protecting Yourself and Your Family Financially
- The importance of insurance and wills when planning the future.