The Policy Liaison Group on Workplace Wellbeing was recently invited to the Guildhall by the City of London Corporation to share insights and expertise at a roundtable on Boosting Financial Wellbeing in the Workforce.

Following HM Treasury’s Financial Inclusion Strategy, published in November, financial resilience is now firmly on the policy agenda. The roundtable explored the more advanced role employers can play as trusted institutions in embedding financial wellbeing, improving retention and productivity, while supporting wider economic growth. The scale of the challenge is significant. Recent data by Zellis shows that 92% of employees experienced financial stress in the past year, 89% say it affects their performance at work.

Poor financial resilience affects nearly a quarter of UK adults, undermining their ability to manage day-to-day finances and withstand financial shocks. The link between personal finances and mental health needs to be addressed head-on (see Onebright quote). The workforce spans graduates to those nearing retirement, from people on low to higher incomes all experiencing financial stress, and the range of support measures varies enormously.

While education has an important role to play — from explaining the first payslip to preparing for retirement — financial support should be more tailored. Workers on low incomes loomed large in the discussion. Solutions are often skewed towards white-collar professionals. The challenge is to swap debt for savings as the default way of dealing with a personal financial crisis, which is why auto-renolment and earned Wage access can be vital.

The added benefit is enhancing engagement (see Suez and Hastee quotes). A key takeaway from the discussion was the imperative for employers to make the business case for employer support that goes beyond benefits. SMEs in particular struggle to evidence the return on investment of adopting measures to support workers with their finances, hindering progress.

The consensus was that employer leadership, supported by clear regulatory direction and collaboration with government and providers, will be central to translating policy ambition into sustained workforce impact. As employers remain the most trusted institution for many, they are uniquely positioned to double down on that trust to drive systemic change.  

Gethin Nadin, Chair of the Policy Liaison Group on Workplace Wellbeing, Zellis and Benifex, said: “Trust sits at the heart of this debate.

“The data proves that employers occupy a uniquely influential position — usually over and above that of traditional financial institutions. The state of the nation’s savings, coupled with the link between financial wellbeing and mental health, demands much greater support from UK workplaces.  Financial inclusion is firmly on the radar in Westminster.

“It is incumbent on employers to showcase what good looks like to encourage the government to build on their financial inclusion strategy and play a more proactive role in supporting employers.” SUEZ’s Michelle Sutton said: “When we moved to automatic enrolment, participation rose to 50%.

“By removing the noise, the inertia and the low confidence, we made it easier for people to take action, and colleagues who had never saved before were suddenly building savings, feeling more confident and genuinely happier.”

“If you want to be known as a business that truly cares for its workforce, this is about systems thinking and looking at the bigger picture. We renewed our programme by being able to clearly demonstrate the ROI, driven in large part by our discount and vouchers platform. Those savings make a real, measurable difference to employees’ net income, turning financial wellbeing from a ‘nice‑to‑have’ benefit into a powerful retention and recruitment tool.”

Rachel Harte of Hastee said: “Earned wage access is becoming increasingly adopted for its proven ability to support employees’ financial wellbeing by giving them timely access to pay they’ve already earned.

“Yet despite the growing evidence of its benefits, it still faces unnecessary stigma across UK workplaces and industry. Clemens Moehring, also of Hastee, added: “Smaller businesses often struggle to build a clear and credible business case for investing in financial wellbeing.

“With over 60% of the UK population employed by Small and Medium-sized Enterprises, it is essential that the benefits of these solutions to UK productivity and every business's bottom line are better understood." Onebright’s Shamria Graham said: “We are seeing financial concerns among those seeking psychological support rise sharply, with rates doubling in recent years and even higher among those with severe depressive disorders. 

“Financial strain and common mental health problems have a bidirectional relationship, in which financial difficulties exacerbate symptoms such as anxiety and depression, while these symptoms impair cognitive functioning, decision‑making, and occupational performance, thereby increasing the risk of further financial hardship.” Maria Paviour of Optimism Consulting said: “Often the financial wellbeing debate focuses on education.

“However, as financial stress rises, cognitive capacity narrows, which means the worst time to offer education is often when people are under the greatest strain. If we ignore that psychological context, even well-intentioned financial wellbeing programmes may fail to reach those who need them most.”

Organisations present

Advisory Board members:

  • Zellis
  • Benifex 
  • SUEZ
  • Hastee
  • Optimism Consulting

Others

  • REBA
  • LCP
  • Stream
  • Canada Life
  • HSBC
  • Santander
  • Octopus Money
  • Living Wage
  • Lane Clark & Peacock 
  • Censuswide
  • Chartered Institute of Payroll professionals 
  • Sync Savings
  • Nudge
  • MAPS

Gethin Nadin (MBPsS, FRSA, RSPH) is an award-winning psychologist and one of the UK’s leading voices on workplace wellbeing, employee experience and the future of work.

For more than two decades, he has advised large employers and SMEs on building healthier, more productive working environments. In 2026, Gethin was named among the UK’s Top 100 Most Influential People, reflecting his impact across business and public policy.

He is Chief Innovation Officer at Benifex and an Executive Fellow at King’s College London, where he teaches evidence-based wellbeing and reward strategy.