16 Sep 2020

Steve Watson of Cushon on how workplace savings can help employees in the short and long term

Transforming financial wellbeing strategies from just focusing on pensions to include workplace savings was the topic of conversation for Steve Watson, head of proposition at Cushon, and REBA's content director Maggie Williams, during REBA's Employee Wellbeing Congress.

He discussed how financial worries not only negatively impact home life but also have a huge effect on productivity. He added that by helping employees manage their finances, organisations will reduce sick days, presenteeism and ultimately improve the bottom line.

Watson said that Covid-19 has opened employees' eyes to how important it is to be saving, whether they have been furloughed or not, and the majority of employees want to see their employer to set up workplace savings. He added that many employees are keen to put some of their pension contributions into a workplace saving scheme so that they remain more accessible.