Can you afford to ignore financial wellbeing education in the workplace? Here’s some stats.

Five out of 10 Australians are experiencing “a lot of stress” at work, while 67% are “quiet quitting” and only 20% are thriving1. One in three full-time employees say that money worries have negatively impacted their productivity at work2.

All of this adds up to a major workplace and community issue costing Australian businesses over $31 billion annually due to employee distraction and absenteeism3.

Workplace Financial Wellbeing

A 40-year-old female financial advisor standing confidently in a professional work environment, smiling with her arms crossed.

It’s a fact that many people worry about their finances more than their health. That’s why developing a healthy relationship with money is so important to our overall wellbeing and living with a sense of security and freedom to make choices.

Our Workplace Financial Wellbeing program is designed to provide employees with education and tools to enhance their sense of understanding and control around their finances to help support their life at home and work.

Why is financial wellbeing important?

The
benefits

Our Workplace Financial Wellbeing sessions are great for improving peoples overall feelings of financial security and freedom – which is also great for business. Here’s why.

Stress less

Less financial stress means happier, healthier and more productive employees. Employees that take place in wellbeing initiatives have less sick days on average than those who do not participate4.

Educate more

Help your people plan for:
  • managing mortgage replacements
  • funding secondary school education
  • having enough money to enjoy retirement.

Money saving

Wellbeing programs can save employers money through:

  • decreasing sick leave absenteeism by 25%4
  • decreasing workers compensation costs by 40.7%4
  • decreasing disability management costs by 24.2%5
  • saving $5.81 for every $1 invested in health and wellbeing4

More productive

  • 67% of employees are less likely to actively search for a new job6
  • Employees are 5x more likely to strongly advocate for their company as a place to work6
  • 71% of employees less likely to report experiencing a lot of burnout6

Time positive

Our sessions run for around 60 minutes and can be held onsite or online.

Your way

We offer tailored programs. We get to know your workplace, allowing our facilitators to tailor the session to your workplace’s needs.

Our topics

Our Workplace Financial Wellbeing sessions are tailored to suit the needs of your workforce. They are both educational and engaging, covering a range of topics across behaviours, planning and finances to equip and empower your people. 

And on top of our groups sessions, we can also offer your team individual sessions with one of our advisors.

Understanding your financial wellbeing

An introduction to the concept of financial wellbeing and the impact poor financial wellness can have on our lives.

Mind over money

Breaking down the stigma around talking about money and understanding mindset techniques (such as money scripts) that can help us stick to and achieve our financial goals.

Mastering your cashflow

Cashflow is a key determinant to financial wellbeing. This session looks at how to quickly save money, as well as what a good cashflow plan looks like. Here, we’ll also introduce helpful tools such as 10-3-Now goal setting and the 5 Ls.

Growing and protecting your wealth

Our ability to earn income is one of our greatest assets. We’ll dive into the importance of insurance as well as take a look at how to choose investment options based on lifestyle choices and goals.

Enquire
today

Please fill out the form below and one of our advisors will be in touch shortly with more info on our Workplace Financial Wellbeing Program.

1300 388 285

advice@tribecafinancial.com.au

Level 1, 110 Church Street, Hawthorn VIC 3122

Who we have worked with

Financial wellbeing is a state of being where a person can fully meet their current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow enjoyment of life. At Tribeca, we believe financial wellbeing means freedom from financial stress and the ability to live your Good Life. Employees with a heightened level of financial wellbeing are likely to be more settled and productive both in their personal life and at work.

Apart from the mental health benefits of supporting an employee’s financial wellbeing, studies have shown that financial stress in the workplace can have a major impact on overall efficiency and productivity. For example, nearly one in three employees report being distracted at work because of their finances, with poor financial wellbeing costing businesses in Australia $31billion per annum3.

Cost of living expenses such as interest rate rises, food costs and escalating petrol prices can place significant pressure on personal finances and wellbeing. Exacerbating this can be a person’s level of debt, savings and income. Other stressors could also include historic financial challenges due to bankruptcy or job loss. Employers can play a vital role in providing their employees with support and education to increase their financial literacy and wellbeing.

The link between financial stress and mental wellbeing is undeniable. Research has revealed that 57% of workers admit to feeling stressed about their finances2, and this can severely impact their life at home and at work. Employers who offer financial wellbeing training to help their team members take greater charge over their finances – from educational resources to financial planning assistance – are likely to enjoy the benefits of a more resilient and well-functioning workforce.

The stats don’t lie when it comes to the benefits of a wellbeing program in the workplace:

  • 67% of employees are less likely to actively search for a new job6
  • 5x more likely to strongly advocate for their company as a place to work6
  • 71% less likely to report experiencing a lot of burnout6

Implementing a financial wellbeing program at your workplace helps employees better manage their finances, creates greater productivity, reduces absenteeism, and improves workplace financial literacy and awareness.

Studies have shown wellbeing programs can save employers money through:

  • decreasing sick leave absenteeism by 25%4
  • decreasing workers compensation costs by 40.7%4
  • decreasing disability management costs by 24.2%5
  • saving $5.81 for every $1 invested in health and wellbeing 4

At Tribeca our Workplace Financial Wellbeing program is customised to meet the unique needs and interests of your organisation. We offer both group and one-on-one financial wellbeing training sessions and can scale our program to suit your budget and ongoing requirements. Please speak to one of our Tribe if you would like more information or to arrange a detailed proposal.

Although each program is tailored to suit the needs and budget of each organisation, our financial wellbeing program can consist of:

  • Group sessions covering topics such as understanding financial wellbeing, money scripts, goal setting using our 10-3-Now process, cashflow management, investment, modelling (looking into the future), 5 Ls – Live, Love, Learn, Laugh and Legacy and how to protect your health and life.
  • One-on-one coaching sessions where our advisers create a plan to suit the financial and life goals of your team members. We encourage partners, a significant other, parent or sibling to attend too. It’s the first step in the journey towards creating your Good Life. It’s designed to be a deep dive into your team member’s goals, hopes and dreams.
  • Resources such helpful tools and guides and exclusive access to Tribeca’s eBooks, Guides and downloadables.

The number of financial wellbeing information sessions and duration of the program is entirely up to you. We are happy to tailor our program to suit your specific timing and budget requirements.

We are more than happy to run virtual financial wellbeing sessions online if an employer would prefer to run the program in this way (or workplace access is not permitted due to restrictions). We find face-to-face sessions can build stronger relationships and educate more effectively through greater interaction.

It’s easy. Simply call 1300 388 285 or enquire here and one of our Tribe will take you through Tribeca’s Workplace Financial Wellbeing program and put together a proposal tailored for your organisation.

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