Video tutorial: Close Brothers’ Jeanette Makings & Prof Cary Cooper on financial wellness psychology
Speaking at the REBA Employee Wellbeing Congress 2019, the duo said there was a direct link between wellbeing and business performance. “It’s been known that poor financial health is linked to poor business performance for years,” said Makings. “This is not just about happiness it’s about effectiveness at work.”
In a survey of employers and employees Makings said organisations were seeing fewer people retiring as a result, as well as lower productivity linked to poor financial health. “These are big issues,” said Makings.
Cooper outlined the measures that organisations can use to judge wellbeing but he said wellbeing audits were also vital. “What is also important is to get the individual employee’s perception of your organisation,” he said.
Makings suggested that organisations push their providers further to mine additional information about financial wellbeing within their organisations and to work hard to breaking the taboo around money.
“Financial health is something that can be measured down to the penny,” she said.
This video was recorded at the REBA Employee Wellbeing Congress 2019, held in London on 20 June.
In partnership with Close Brothers
Close Brothers has been providing financial education services to employees of some of the UK's best known organisations for over 50 years.
