In recent years, financial wellbeing has moved from being a “nice to have” to a core part of how leading employers care for their people. When employees feel financially secure, they’re less stressed, more focused, and better equipped to perform at their best.
Yet according to the CIPD’s 2023 Financial Wellbeing Report, 57% of employees say money worries affect their work performance, while more than half admit they’ve lost sleep due to financial stress. For large organisations, that’s not just a wellbeing issue — it’s a productivity one.
The business case for financial wellbeing
When financial stress rises, so does absenteeism and staff turnover. Research from the Money and Pensions Service shows that financially stressed employees are 4.3 times more likely to experience reduced productivity and concentration at work.
By embedding financial wellbeing into employee benefits, employers can:
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Improve engagement and morale
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Boost productivity and retention
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Strengthen their reputation as a responsible and caring organisation
How the Chorus Workplace Savings Scheme helps
Wave Community Bank’s Chorus Workplace Savings Scheme makes it easy for employers to support financial wellbeing without adding to HR budgets. Employees can:
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Save directly from their salary
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Access fair, affordable loans
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Build savings automatically, even while repaying a loan
It’s simple, ethical, and built around payroll — meaning there’s no extra admin for your HR or payroll teams.
Real impact, real difference
By partnering with Wave Community Bank, employers show they’re serious about supporting staff beyond pay day. The scheme complements existing benefits and wellbeing programmes, offering employees a practical, lasting way to manage their money.
A responsible choice for responsible employers
For larger organisations that already value inclusion and sustainability, the Chorus Workplace Savings Scheme is a natural fit. It helps employees build resilience, supports ethical finance, and strengthens the link between business and community.
Learn more about how you can offer this benefit to your workforce:
www.savewithchorus.org.uk/financial-wellbeing-at-work