Financial literacy training

I wholly applaud the efforts of employers to address the issue of financial literacy training (‘Money Talks’, Personnel Today, 23 February)

The drop in absenteeism and likely link to increased levels of engagement and productivity should not be underestimated when one considers the impact of enabling employees to stay in control of personal issues, such as money and debt management.

The negative impact of financial concerns on a workforce is all too often underestimated.

The helpline of one employee assistance programme provider, for example, put the level of finance-related calls at 7%, with calls relating to debt, tax and benefits being the most common queries from employees.

The economic climate has certainly affected employees’ awareness of personal finance issues, so it seems clear that more organisations should invest in this type of learning and development if they want to reap the rewards of a focused and engaged workforce.

Eugene Farrell
Chairman,
UK Employee Assistance Professionals Association

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