On 5th November 2025, HM Treasury published its long-anticipated Financial Inclusion Strategy – a national framework to improve access to financial services for underserved groups. For employers, this marks a pivotal moment to re-evaluate how workplace financial wellbeing can support not only the aims of the strategy, but also organisational performance and national resilience.
A six-part strategy
The strategy focuses on six key areas:
- Digital inclusion
- Savings
- Insurance
- Access to credit
- Problem debt
- Financial education
It also integrates cross-cutting themes of mental health, accessibility, and economic abuse – issues that frequently surface in my Westminster meetings of the Policy Liaison Group (PLG) on Workplace Wellbeing, especially in the context of the cost-of-living crisis.
These themes reflect a growing understanding that financial wellbeing is not just about income, but about resilience, literacy and access – areas where employers can make a meaningful impact.
Payroll savings, earned wage access and employee benefits
The Treasury’s emphasis on payroll savings schemes and expanding “Help to Save” echoes the call made by the PLG earlier this year to embrace these mechanisms. It also reinforces the argument I made in HRZone for low-paid industries to embrace employee benefits.
Millions of UK employees remain financially vulnerable due to a lack of savings and limited access to affordable credit. Employers offering auto-enrolment or payroll savings options can play a critical role in helping their workforce build financial buffers. The strategy also strengthens the case for earned wage access (EWA) products, which reduce reliance on high-cost credit, support financial resilience, and are designed with inclusivity in mind. EWA helps smooth income volatility – a key barrier to financial stability for low-income workers and is particularly relevant for shift workers, gig economy workers, and those with irregular pay.
Notably, the strategy also highlights the role of employee benefits, such as income protection, that go beyond statutory sick pay, recognising their value in driving better outcomes for individuals and the country. Employee benefits sit at the very core of successful employee financial wellbeing outcomes, and it’s great to see this being recognised by the Treasury in this way.
Financial education at work
The strategy’s commitment to embedding financial education presents a direct opportunity for HR leaders. In my HRZone article on why financial wellbeing will reclaim the spotlight in 2025, I argued that financial literacy must become a core workplace competency. The Treasury’s plan to expand money guidance and fund capability initiatives reinforces this view, and positions employers as key delivery partners.
Employers are central to national financial resilience
The word “employer” appears 18 times in the strategy. “Employers have a key role to play in supporting financial resilience,” it states.
HM Treasury sees employers as essential actors in improving the financial resilience of the nation. The strategy aims to enable and encourage employers to offer workplace savings schemes and increase awareness and adoption of them.
A call to action
The Financial Inclusion Strategy is more than a policy document; it’s a national call to action. As Chair of the PLG on Workplace Wellbeing and as a senior leader within a payroll and benefits organisation, I believe this is a defining moment for UK employers to align their wellbeing and employee benefits strategies with national priorities.
The PLG’s work has consistently shown that financial wellbeing is a shared responsibility between government, employers and providers. With this new strategy, the government has laid out a clear framework. Now it’s time for employers to respond and support it.
Many recognisable names are already making huge strides to support their people and the country in this way, including Bupa and Suez. Their work has been valuable in the creation of this strategy.
UK employers must revisit their employee wellbeing and benefits strategies in light of these recommendations, not just to support their people, but to contribute to a more financially resilient and inclusive society.
