Encourage employees to talk finances in workplace

Discussing an employee’s finances in the workplace can be a taboo subject, but Darren Laverty explains why this shouldn’t be the case.
Discussing an employee’s personal financial issues in the workplace is a subject hesitantly approached at best; for the employee, they need to have some assurance that any problems will be treated with the greatest confidentiality, and that opening up during a discussion will have no bearing on their role and responsibilities or their future at the organisation.

Darren Laverty, partner at Secondsight, says: “There are two taboos in the workplace at the moment: mental health problems and financial problems. [Employees] are reluctant to talk about them so they need to feel there is some confidentiality about the whole thing.”

A way in which employers can help is with workplace financial education.  Employers have a role to play in creating a positive message around the importance of financial education and communicating that, if needed, further confidential support is available for employees.

Read the article in full from Employee Benefits Magazine here.