1 in 3 of Millennial and Gen Z working professionals in Singapore and Hong Kong expressed a desire to be better supported by their employers through financial literacy sessions. In tandem with the Financial Preparedness and Mental Wellbeing event Endowus is co-hosting with Intellect on July 23rd, we are launching today, our partnered Wealth and Wellbeing Report, which found a virtuous, cyclical relationship between levels of financial preparedness and one's personal wellbeing across factors such as #selfesteem, #growthmindset and #resilience. Find out how you can improve your employees' welfare, and build stronger teams by prioritising their financial preparedness and literacy. Read more here: https://lnkd.in/ghvfgdY8 #Endowus #Intellect #Wealth #Wellbeing Investment involves risk. Past performance is not an indicator nor a guarantee for future performance. Projected performance is not guaranteed. Please refer to our full disclaimer at https://sg.endow.us/mas.
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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.
1 in 3 of Millennial and Gen Z working professionals in Singapore and Hong Kong expressed a desire to be better supported by their employers through financial literacy sessions. In tandem with the Financial Preparedness and Mental Wellbeing event Endowus is co-hosting with Intellect on July 23rd, we are launching today, our partnered Wealth and Wellbeing Report, which found a virtuous, cyclical relationship between levels of financial preparedness and one's personal wellbeing across factors such as #selfesteem, #growthmindset and #resilience. Find out how you can improve your employees' welfare, and build stronger teams by prioritising their financial preparedness and literacy. Read more here: https://lnkd.in/ghvfgdY8 #Endowus #Intellect #Wealth #Wellbeing Investment involves risk. Past performance is not an indicator nor a guarantee for future performance. Projected performance is not guaranteed. Please refer to our full disclaimer at https://sg.endow.us/mas.
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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
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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.
How employers can help ease their employees’ financial worries
hcamag.com
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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
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Is achieving financial security a distant dream for most of us? A staggering 60% of Australians think so. But what if I told you there's a way to change this narrative? 🌟 In our quest for financial wellness, we often overlook our workplaces' critical role. This is the point where Human Resources can truly revolutionize the game. As HR professionals, you have the unique power to not only shape careers but also to influence financial well-being. Here are some insights to consider: 📚 Financial Education Programs: Many employees lack basic financial knowledge. HR can introduce simple yet effective financial literacy programs. This is not just about planning for retirement; it's about managing day-to-day finances, understanding benefits, and making informed decisions. 💬 Healthy Financial Culture: Create an environment where discussions about finances are not taboo. Encourage openness, provide resources, and bring in experts for talks or workshops. 🤝 Personalized Support: Everyone's financial journey is different. Offering personalized financial counseling can make a significant difference. 🔧 Tools and Resources: Provide access to budgeting tools, financial planning services, and other resources that empower employees to take charge of their financial health. 💵 Support Beyond the Paycheck: Consider benefits like emergency funds, loan assistance, or savings programs. Sometimes, a little help goes a long way. HR professionals, your role in shaping financial wellness is crucial. Let's start a conversation about making financial security a reality for more Australians. 💬What's one financial wellness goal you wish to see in workplaces? #humanresources #leaders #finance #personalfinance #australia
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PM Lawrence Wong's National Day Rally has sparked much debate, and here's why it should! While it's refreshing to see bold initiatives aimed at making Singapore a more inclusive and supportive society, are we ready for the consequences? 🤔 **Mandatory Paternity Leave**: Great in theory, but what about our SMEs? Forcing small businesses to offer extended paternity leave could backfire, leading to higher operational costs and possibly even job discrimination. Are we prepared to support these businesses or just setting them up for failure? **Jobseeker Support Scheme**: A lifeline for the unemployed, but what happens after six months? Temporary financial support is crucial, but we need to ask ourselves - where are the sustainable, high-quality jobs that match the skills we're retraining for? Is this just another band-aid solution to a deeper problem? **Education Overhaul**: Discontinuing the Gifted Education Programme might level the playing field, but are we diluting the focus on nurturing exceptional talent? Inclusivity is vital, but let's not forget the importance of challenging our brightest minds to achieve their full potential. PM Wong's vision is ambitious, and we applaud the intent, but let's not be naive. Implementation is everything, and without careful consideration, these well-meaning policies could lead to more harm than good. 😬 Are we ready to face these challenges head-on, or are we about to open Pandora's box? Share your thoughts! 👇 hashtag #Singapore hashtag #Leadership hashtag #NationalDayRally2024
Leading Consultant on SkillsFuture & CET | Expert in SSG OR, WSQ CA, Non-WSQ CF and TPQA | 25+ Years in L&D
PM Lawrence Wong's National Day Rally has sparked much debate, and here's why it should! While it's refreshing to see bold initiatives aimed at making Singapore a more inclusive and supportive society, are we ready for the consequences? 🤔 **Mandatory Paternity Leave**: Great in theory, but what about our SMEs? Forcing small businesses to offer extended paternity leave could backfire, leading to higher operational costs and possibly even job discrimination. Are we prepared to support these businesses or just setting them up for failure? **Jobseeker Support Scheme**: A lifeline for the unemployed, but what happens after six months? Temporary financial support is crucial, but we need to ask ourselves - where are the sustainable, high-quality jobs that match the skills we're retraining for? Is this just another band-aid solution to a deeper problem? **Education Overhaul**: Discontinuing the Gifted Education Programme might level the playing field, but are we diluting the focus on nurturing exceptional talent? Inclusivity is vital, but let's not forget the importance of challenging our brightest minds to achieve their full potential. PM Wong's vision is ambitious, and we applaud the intent, but let's not be naive. Implementation is everything, and without careful consideration, these well-meaning policies could lead to more harm than good. 😬 Are we ready to face these challenges head-on, or are we about to open Pandora's box? Share your thoughts! 👇 #Singapore #Leadership #NationalDayRally2024
NDR 2024: PM Wong sets out major reset of policies and his vision for Singapore
straitstimes.com
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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
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There are big changes in Aussie Workplace Laws. Here's the top three changes set to impact the operating landscape for startups in Australia: 1. Right to Disconnect. → Guaranteeing personal time, freedom from work-related interruptions post-work hours. 2. Gig Economy Standards. → Ensuring fair treatment and minimum standards for digital platform workers. 3. Casual Employment Conversion. → Making it easier for casual workers to switch to regular employment. What does this mean for startups? ↳ The atmosphere is shifting towards favouring employees by giving them more authority over their work and personal time. ↳ Startups need to take into account these new policies while designing the work culture and treatment of their workforce. ↳ New rules aim to improve work-life balance and worker rights in Australia, possibly setting global trends. ↳ Debate around how strict regulations may burden small businesses and startups, potentially affecting innovation and growth. The key is finding a balance between protecting workers and maintaining business agility 🤷♀️
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Struggling with employee financial stress? Discover how employers can effectively support their teams with practical financial wellness strategies. Steven Furman of Paytime outlines key methods to alleviate financial worries and boost overall workplace morale. Explore actionable insights in this essential read: https://hubs.la/Q02LQNH80 #HRInsights #FinancialWellness #HRSupport #EmployeeRetention
How employers can help ease their employees’ financial worries
hcamag.com
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According to a report by PricewaterhouseCoopers (PwC), for every $1 invested in creating a mentally healthy workplace in Australia, there is an average return on investment (ROI) of $2.30. This is indicative of the broader benefits that can be achieved through services that include organisational psychology. . . . #OrgPsych #HealthGoals #WellnessJourney #Elev8YourLife #Mentalhealth #Mentallyhealthyworkplace #Elev8consulting
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