Financial wellbeing for employees: What it is and how employers can help
Financial wellbeing for employees isn't a number. It's not about salary, bank balance or homeownership. Understanding what drives employee financial wellbeing - and how employers can support it - is crucial for NZ organisations facing ongoing cost of living challenges.
The Rich in Context Report defines three key indicators of financial wellbeing:
Your confidence in your financial skills and knowledge
How often financial stress negatively impacts your mental wellbeing
How often you feel positive about your financial situation
The fact that it’s about how people feel - rather than an easily observable and objective measure - can make it seem, well, a bit wishy-washy.
But the cost and impact of financial stress in the workplace are real.
Financial wellbeing is part of the bigger picture
In the wellbeing wheel, financial wellbeing sits alongside other types of wellbeing, including emotional, physical, intellectual and environmental. Think of it the same way you already invest in EAP services, gym memberships, learning and development, and welcoming workspaces - every bit counts towards building a place where your people can do their best work.
Source: Headsapce
What employers can control: financial education and support
The Rich in Context report also looked at the social and cultural characteristics of the financially well and unwell. Of the eight factors they identified - including whānau/family structure growing up, experiences of trauma, and how money was talked about during childhood - most are outside your control as an employer.
But one is squarely within your sphere of influence as an employer: access to advice and education. The financially well were twice as likely to have accessed financial education or consulted with a financial advisor.
Three building blocks of employee financial wellbeing
Mindset is about employees believing their actions can shape their financial future, fostering motivation and confidence.
Knowledge and skills cover understanding how money works, from everyday budgeting to KiwiSaver and major financial decisions.
Application is the crucial step - turning what employees know into real action: setting goals, making plans, and adjusting behaviours to improve their situation.
Together, these create a simple but powerful flywheel to support meaningful change.
How to choose financial wellbeing programs for your employees
The best financial wellbeing programs deliver information and help employees actually use it. Look for approaches that combine education with application: interactive learning, personalised guidance, and practical tools employees can apply to their own situations.
And critically, ensure the support is independent. Employees need to trust they're getting genuine help.
Now for the important legal part: The information we provide is general and not regulated financial advice for the purposes of the Financial Markets Conduct Act 2013. Please seek independent legal, financial, tax or other advice in considering whether the content in this article is appropriate for your goals, situation or needs. The information in this article is current as at 26 November 2025.
Stephanie Pow
Founder & CEO of Crayon
