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The number of employers in the UK getting more involved in the financial affairs of their staff is growing. Companies are not only stepping in to negotiate better rates on mobile phone tariffs and energy bills for the entire workforce, but also managing an individual’s personal money woes by issuing loans or coming up with plans to pay off credit card debt. The same is happening in the US. According to a recent Bank of America report, 97% of US employers surveyed feel responsible for employee financial wellness, up from 41% in 2013.
“If people have got problems, we want to know,” says Leighton, adding that employees inevitably bring financial concerns into the workplace. “We want people to give excellent customer service, so we need to enable them to do that. Ultimately, we are a commercial business. If we help our colleagues, we know this will come back to us tenfold.”
https://www.ft.com/content/37e506f6-d10a-45f9-a40f-9af7e95c2f99?shareType=nongift
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