As Australia’s workers prepare to transition from isolation and remote working to a vastly altered post-COVID workplace, studies find that they want their employers to prioritize their safety and well-being. Employers are responding with a raft of safety measures designed to help protect people and productivity, yet in addition to ensuring physical and mental health in the workplace, it is also important to consider financial health and wellness.
Many employees have experienced increased financial difficulties since COVID-19 emerged, triggered by the mass shutdowns, job losses and reduced working hours. Given Australia is heading into a recession for the first time in decades, employers already concerned about the mental wellbeing of their workforce will now face additional challenges caused by money-related worries, which consistently rank amongst the top causes of stress in Australia. This article explores practical steps that employers can take to improve financial health and wellness in their workplace, by helping employees to become financially resilient in a world that increasingly demands it.