Summary: A landmark roundtable at the Guildhall brought together major UK employers, charities, financial institutions and specialist providers to address the prevalence of financial stress on UK employees. The discussion revealed that financial strain is no longer contained to personal life – it impacts productivity, skills development and workplace performance. HM Treasury’s Financial Inclusion Strategy signals that employer action is both expected and valued, positioning financial wellbeing as central to national productivity. With employees trusting employers more than any other institution, the workplace has become the natural setting for meaningful financial support through tools like income protection, earned wage access and discount schemes.
On the 11th February, I chaired a roundtable at the Guildhall, convened in partnership between the City of London Corporation and The Policy Liaison Group on Workplace Wellbeing (PLG). This landmark discussion brought together major UK employers, charities, financial institutions and specialist providers. What we heard, again and again, was that the scale of financial stress now affecting UK workers is not simply an employee wellbeing issue. It has become a measurable threat to national productivity, employer performance, and future skills development.
92% of workers face financial strain
The roundtable was timely as, according to recent Zellis research, a whopping 92% of UK employees have experienced financial stress in the past year. And 89% say it has negatively affected their working lives, impacting concentration, productivity and overall wellbeing.
At the same time, research from Nudge found that 60% of employees report that their financial situation is harming their health, with nearly one-third experiencing financial-related stress and anxiety.
These are not isolated issues; they form a picture of widespread fragility and low financial resilience across the UK workforce.
Our roundtable brought together the full ecosystem needed to address this. For the first time, those experts were in the same room, aligned with the City of London Corporation and with the government actively listening. As I said in the opening remarks: “If we use this moment well, we can move from fragmented activity to coordinated, scalable action on workplace financial wellbeing.”
What employees are experiencing — and why employers must act
The impact on work is already visible. A 2023 study, again from Zellis, highlights that 54% of employees say money worries reduce their productivity, while 45% report lost sleep and tiredness at work.
Financial stress is no longer contained within employees’ personal lives; it is shaping their capacity to work, learn new skills, and maintain the wellbeing needed for good performance. It is also eroding the stability employers rely on to build strong cultures and deliver business outcomes.
Crucially, employees who have access to financial wellbeing tools are significantly more optimistic about their future: 54% expect their finances to improve, compared with 43% of the wider workforce. Access to financial tools at work reduces stress, boosts focus, and improves contribution. A point made clear by the collection of leading UK financial wellbeing providers in the room.
HM Treasury has set a clear direction
A vital theme at the roundtable (and one that UK employers must pay attention to) is that the HM Treasury is increasingly explicit about the role of employers in national financial resilience. Their recent Financial Inclusion Strategy emphasises that long-term financial wellbeing cannot be delivered by government programmes alone and that employers are uniquely placed to provide trusted support.
HM Treasury is now specifically calling for employers to invest in financial wellbeing benefits such as income protection, not only because of the financial cover they provide, but because of their ancillary preventative features, such as virtual GPs, early-access specialists, mental health support and rehabilitation pathways.
The strategy makes clear that “insurance products provide households with the ability to weather financial shocks”. These employee benefits directly prevent poor health outcomes and reduce absence, aligning employer action with national wellbeing goals.
This is an important shift. The Treasury is signalling that employer action is both expected and valued, and that government support depends on employers taking this seriously.
One of the most striking insights in this space (and one repeatedly validated by the Edelman Trust Barometer for at least the past 5 years) is that the employer remains the most trusted institution in people’s lives. Trust is the basis of behaviour change. If we want to improve financial capability, reduce harmful debt cycles, and build resilience, support must come from the place people trust most: their workplace.
Flexible pay and making net pay go further
In a period where wage growth cannot match inflation or household cost pressures, some roundtable attendees highlighted the growing value of income-stretch tools, such as employee discount schemes.
Evidence continues to show their ability to reduce employee outgoings, improve savings behaviour, and support household budgeting – all without increasing pay. Something I’ve previously championed in HRZone.
Some providers in the room represented financial wellbeing apps with earned wage access tools. A 2025 report from the International Labour Organization found that between 52% and 85% of earned wage access users say their financial stress is reduced after using these tools, and up to 86% have gained more self-confidence because of this flexibility in their pay.
Given that employers are struggling to maintain real wage growth while also investing in skills and technology, these tools offer a meaningful, accessible way to increase take-home impact and empower employees to take more control over their money.
The hardest question: What is the ROI?
Many employers at the table acknowledged that, in 2026, demonstrating ROI on financial wellbeing is becoming more challenging. Direct cost savings can be difficult to isolate in an inflationary economy, and HR functions are under heavy pressure to justify investment.
But the evidence now points to a more powerful argument: the indirect ROI may be where the true value lies, and this is where government interest is strongest.
The conversation at the Guildhall was clear: If employers reframe ROI to include productivity, skills development, retention, and national economic contributions, the business case for financial wellbeing strengthens dramatically.
Where we go next: a shared national mission
The roundtable surfaced a strong consensus:
- Financial wellbeing must now be understood as part of the nation’s productivity strategy.
- Employers, government and financial institutions need aligned action, not siloed efforts.
- We must treat financial wellbeing with the same seriousness as mental health, recognising its impact on health, performance, and social mobility.
- Younger workers, in particular, need strong financial wellbeing support to access good work, build stability, and develop future skills.
- Government is ready to support, but only if workplaces demonstrate leadership first.
If we use this moment well, 2026 could be the year the UK finally transitions from fragmented initiatives to a coherent, workforce-wide strategy for financial wellbeing. One that strengthens national resilience, supports employers, and helps millions of employees live and work with greater stability, confidence and dignity.
