Whatever sector you work in your employees may all have one thing in common….MONEY WORRIES.
Paying bills and the increased cost of living can be one of the biggest causes of stress for employees in the UK.
Money worries don’t simply cause family rows and sleepless nights, the worries spill over to affect performance at work. When people are worried about their finances, they are more likely to experience stress, anxiety, and depression. These emotions can
- Reduce Productivity.
- Impair decision-making.
- Increase Absenteeism.
What can you do as an Employer?
How can you help reduce their stress which will in turn result is better performance in their role?
Offer them with a right and safe option for managing money and accessing credit. We can help with that by setting up convenient and effective employee benefits scheme to help your employees build their savings and borrow at a reasonable and ethical interest rate when they need.
Having savings can often reduce financial worries, and if people are encouraged to regularly save, they often will. One of the best ways of putting money aside is through a credit union’s salary saving scheme. The scheme allows you to pay a portion of your employee’s salary into an account held in their name by the local credit union – Acorn Community Bank.
Offering your employees this benefit scheme not only gives them an added benefit of working for you but most importantly, your employees feel the grip of money stresses loosening which improves their mental health and wellbeing which in turns improves their performance at work.
How we can Help?
Acorn Community Bank will safeguard the money until the employee is ready to withdraw it, helping to give them more control over their financial situation. Acorn Community Bank is an authorised local organisation dedicated to helping the community with their needs. The service is free, both to the saver and to you-their employer.
What’s more, we will handle all the payroll paperwork, so it works for everyone, and you know it’s safe as all credit unions are regulated by the financial conduct authority and the savings are backed by the financial services compensation scheme.
It also makes other products and services available to the savers, such as lower interest loans (offered exclusively to your employees under this scheme due to the reliability of repayment). This is another great way of reducing financial stress. We also offer all our services online for the ease of our members. Our website is very simple and informative, and our user friendly app allows our members to access our services from the comfort of their homes.
Let’s Get Started:
Acorn’s Employee Benefit Scheme is an attractive benefit for your team, and its free, apart from the administration needed to set it up. It will help your employees improve their financial resilience and help to differentiate your organisation as a good employer, in turn easing recruitment and improving retention.