Being Proactive About Financial Wellbeing can Provide a Vital Lifeline

Months of furlough and job losses mean financial pressures are at an all-time high for workers in the hospitality industry . Almost 4 in 5 hospitality workers said that they were worried that they wouldn’t be able to pay household bills and cover living costs as a result (Unite Hospitality).

The ONS recently released figures that show that borrowing of £1,000 or more has increased from 35% to 45% since June last year. With lockdowns likely to be extended past the springtime, these figures are likely to worsen. There is light at the end of the tunnel for the industry and its people, and employers can be proactive now in stopping those issues from snowballing. By understanding your workforce, you can implement the right support that’s going to directly benefit them and benefit your organisation in the long run.

As a Fourth customer, you can now access a free independent financial wellbeing survey designed in conjunction with Wagestream and The Cognition Company to download and check in with your staff. Download here!

The Survey

Wagestream have teamed up with Owain Service (Deputy Director of the Prime Minister’s Strategy Unit), CEO of the Cognition Company, and Edward Gardner, Director of Behavioural Science at the Cognition Company, to create the survey independently. Their combined experience means this survey has been designed to get to the heart of the issues faced by your staff so that you can truly understand the issues they face.

The survey pack includes:

• A how-to guide on completing the survey
• short, simple survey to share with your staff
• benchmarking report to easily compare your results with the national average

Note: the survey is built in google forms. If your organisation does not use Google Mail or Google Suite, then get in touch and we can help build it in a survey programme more suitable.

If you would like support running the survey and analysing the data or any questions then do not hesitate to get in touch with the Wagestream team. They will be on hand to help with any queries. Get in touch!