Aegon has launched a new financial wellbeing guide.

The publication is designed to help businesses improve the financial wellbeing of their workforce as part of their overall wellbeing strategy, the firm says.

It is aimed at firms of all sizes aims to support positive financial wellbeing by suggesting ways for employers to engage with their workforce.
 
According to Aegon figures, providing information to employees about financial matters is something some employers are uncertain about, with just half (50%) saying they would be able to provide information to staff on debt issues and over a quarter (27%) admitting they were not convinced they could provide information on saving for retirement.

The guide outlines the important role a business can play to support staff, highlighting steps that can be taken to support staff with their finances and ultimately increase the financial wellbeing among their workers.
 
Ronnie Taylor, chief distribution officer at Aegon, said: “Employers have a key role to play in helping to maintain the financial wellbeing of its workers.

“We know that worrying about money can be all consuming, making it difficult to concentrate and having a major impact on an individual’s work and home life.

“Improved engagement with financial issues is one way of addressing this and often simply making employees aware of the benefits they have access to can make all the difference.
 
“The ultimate cost of employees not engaging fully with financial issues can be massive.

“The deterioration of an individuals’ financial wellbeing can lead to lost time by those who are present at work but preoccupied by money worries, or workers taking time off, leading to a huge financial cost to the business.”