Endowus’ Post

Endowus' Wealth & Wellbeing Report, in collaboration with Intellect, explores the financial preparedness and mental wellbeing of Gen Z and Millennial professionals in Singapore and Hong Kong, emphasizing employers' role in boosting job satisfaction through holistic support. Key findings: - 1 in 3 seek financial literacy sessions. - 4 in 5 link financial preparedness to higher productivity. - 85% see it as vital for resilience. Read the report for insights on empowering the workforce and enhancing financial wellbeing.

A new WTW report has revealed that financial concerns are harming employees' wellbeing, raising calls for employers to take action within their organisation. https://hubs.la/Q02H1nbj0 #HRInsights #FinancialWellness #EmployeeWellbeing #WorkplaceSupport

Thank you HRD Australia for inviting me to share some insights on how employers can help their teams with financial stress during the current high cost of living. 11.9 million Australians under financial strain. This economic pressure is placing a significant strain on workers, affecting their mental wellbeing and productivity. The provision of financial wellness programs, which include providing staff with on-demand access to their earned wages (Earned Wage Access) in order to access their pay after a shift; budgeting tools; and easy, confidential access from qualified financial counsellors during times of economic hardship is becoming crucial. Financial wellbeing solutions are a win-win for both employee and employer.

Our latest 2024 Global Benefits Attitudes Survey shows that close to two-thirds of workers' wellbeing in #HongKong are negatively impacted by financial concerns, and more than a quarter believe their financial problems will get worse in the next year. In particular, 28% say their financial situation is causing them higher levels of stress and anxiety. Our news in the South China Morning Post SCMP has more: https://ow.ly/v33550SCUcF. Employers should continue to take action to improve #financialwellbeing within their organisation. These can include adequate education for employees to help plan their resources and close financial gaps, as well as connecting employees with relevant elements of their total rewards package. #EmployeeWellbeing #Health #Benefits #Retirement Eric Lam William Chow

The age of retirement and re-employment is gradually increasing in Singapore. Here's why it's a win-win for both businesses and workers: Skilled Workforce: Retaining experienced workers keeps our businesses competitive. Empowering Seniors: More time in the workforce allows seniors to secure financial well-being. Bridging the Gap: It helps address labour shortages, leading to a stronger future workforce.

Did you know that financial stress is now the leading cause of stress for Australians? 💳 💸 💲 Employment Hero’s 2024 Wellness at Work report found that 34% of respondents cited financial stress and the rising cost of living as their biggest cause of stress in the last three months, far outpacing other stressors like overwhelming professional workload (15%) and professional burnout (13%). As we begin tax season, do you know how well your employees are equipped to navigate the financial challenges ahead? At The Workshop Lab, we're offering tailored workshops designed to boost financial wellbeing. Our Financial Wellness: Personal Budgeting & Finance workshop provides practical strategies such as: 👉 The importance of financial wellness and the impact of financial stress 👉The four key pillars for achieving financial wellness 👉How to plan for the everyday, the unexpected and the future 👉How to audit spending habits 👉Tools, tips and strategies for managing money, including basic budgeting tools and techniques 👉The traps and roadblocks to financial wellness When employees manage their money better, it contributes to greater wellbeing, less stress, and higher retention rates. By fostering a culture of financial wellness and investing in their financial literacy, you're setting your organisation up for success. Limited spots available for July/ August - perfect timing for the new financial year! Contact us today at [email protected] to book your workshop or visit the link below to learn more. https://lnkd.in/gXji-Tp9 #FinancialWellness #WorkplaceTraining #EOFY #TaxSeason #EmployeeEmpowerment #BudgetingSkills

Financial Wellness in the Workplace: Strategies for Employees 👩💼👨💼 Financial wellness is a crucial aspect of overall well-being, yet it's often overlooked or undervalued in the workplace. In South Africa, where economic disparities are prevalent, addressing financial wellness becomes even more critical. Understanding Financial Wellness: Financial wellness goes beyond simply earning a salary; it encompasses aspects such as budgeting, saving, investing, managing debt, and planning for the future. It's about having the knowledge, skills, and resources to make informed financial decisions that align with one's goals and values. Here are some strategies for employees: 1. Educate Yourself: Take advantage of any financial education programs or resources offered by your employer. Additionally, seek out independent sources of financial education to further enhance your knowledge and skills. 2. Budget and Save: Create a budget that accounts for your expenses, savings goals, and debt repayments. Set aside a portion of your income for savings and emergencies, even if it's a small amount at first. 3. Manage Debt Wisely: Prioritize paying off high-interest debt, such as credit card debt or personal loans. Consider consolidating debt or negotiating lower interest rates to reduce your overall debt burden. 4. Invest for the Future: Take advantage of employer-sponsored retirement plans, such as pension funds or provident funds. If possible, supplement these with additional retirement savings through voluntary contributions or other investment vehicles. 5. Seek Professional Advice: Don't hesitate to seek advice from financial advisors or planners, especially when making significant financial decisions. A professional can provide personalized guidance based on your individual circumstances and goals. Financial wellness is a journey that requires ongoing effort and commitment. Ultimately, investing in financial wellness benefits not only individuals but also contributes to a more resilient and productive workforce and society as a whole. 💰 #finance #motivation #wealth #investing #success #education #goals

Balancing work and life, continuous personal and professional growth, and flexible work practices are key to Australia’s future workforce success. Our research shows that Australians prioritize flexibility, well-being support, and ongoing learning over traditional norms. Inclusive policies and health investments signal a broader understanding of what it will take to cultivate a thriving economy and community in the face of an age-diverse workforce. Additionally, digital tools will also play a pivotal role in bridging generational gaps and shaping the future economy. Read our new report to explore more about the future of work: https://gag.gl/Jr6YbC #AgeDiverseWorkforce #WorkplaceWellBeing #BSI

During November, we ran a poll asking if you feel your business has a culture of confidence and honesty regarding financial wellbeing. We gave you these options: 1️⃣ Yes 2️⃣ No 3️⃣ Yes, but it could be better 4️⃣ No, but we’re working on it 📢 The results are in, with 50% of respondents recognising that although they have a culture where financial wellbeing is discussed, it could be better. 💚 This response is promising... World economics fluctuate, and the workplace must evolve to meet the changing needs of its people. Trust takes time to establish, and it's essential for employees to feel confident opening up about 'taboo' subjects. 🚫 More alarming is that we have a 38% 'no' but zero 'no, but we're working on it' response. Employees experiencing money worries cost the UK economy £120 billion and 17.5 million lost work hours - https://bit.ly/3t7zWdU - and businesses can help reduce employees' financial burdens by creating a culture of trust. Trust isn't a nice-to-have... When employees feel confident discussing their financial situation they're employer, they're one step closer to helping resolve it. Download our financial wellbeing guide tips on how to create financially resilient employees: https://bit.ly/46P8kIf #financialreslience #financialwellbeing #hr #pluxeeuk

Balancing work and life, continuous personal and professional growth, and flexible work practices are key to Australia’s future workforce success. Our research shows that Australians prioritize flexibility, well-being support, and ongoing learning over traditional norms. Inclusive policies and health investments signal a broader understanding of what it will take to cultivate a thriving economy and community in the face of an age-diverse workforce. Additionally, digital tools will also play a pivotal role in bridging generational gaps and shaping the future economy. Read our new report to explore more about the future of work: https://gag.gl/Jr6YbC #AgeDiverseWorkforce #WorkplaceWellBeing #BSI