Our relationship with money is a complex one; concerns about money can promote or exacerbate poor mental health, and poor mental health can prevent us from managing money responsibly and make us more vulnerable to negative spending behaviours.
Through our work with the Supply Chain Sustainability School, we are committed to spotlighting this important topic as we embark on a 360-degree programme of wellbeing training for the built environment. The School has teamed up with the Money and Pensions Service (MaPS), the Lighthouse Club, and other industry experts to develop the understanding of financial wellbeing and its implications for employees and the supply chain.
Training available includes (free to join):
Money worries are the biggest cause of stress for UK employees, and are damaging to business, too. People take their money worries to work, affecting their performance and levels of absenteeism. The case for financial wellbeing at work is compelling:
MaPS describes financial wellbeing as feeling secure and in control of your money. It’s knowing that you can pay the bills today, can deal with the unexpected, and are on track for a healthy financial future. In short: being confident and empowered. MaPS brings together three respected providers of free, impartial financial guidance:
MaPs’ vision is ‘everyone making the most of their money and pensions’, by supporting employers to improve financial wellbeing in the workplace. MaPS provides free support and practical ways to help organisations of all sizes and from all sectors to build it in the workplace. This can include sharing links and free printed guides for staff, embedding content into internal communication channels, supporting businesses to develop a strategy or running a pilot. You can contact the MaPS partnerships team to see what’s available to help your specific organisation.
The MaPS Money Navigator Tool gives you action plans based on your own situation, including the money issues you need to tackle first, how to stay on top of bills and payments, what extra help and support you’re entitled to, and where you can get free advice for debt, housing or redundancy.
Alongside the Money Navigator Tool, the new COVID-19 money advice hub provides additional support.
 94% of UK employees admit to worrying about money and, of these, 77% say that money worries impact them at work.’ Close Brothers, The Financial Wellbeing Index (2019).
 Centre for Economics and Business Research, Financial wellbeing and productivity: A study into the financial wellbeing of UK employees and its impact on productivity, 2018.
This was posted in Social Value
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