Brexit and Financial Wellbeing

With Brexit being a hot topic this month with a ‘no deal’ looming closer there seems little let up in the news, social media, workplace and even homelife on the subject.

As a business Brexit means for many, uncertainties, which requires careful planning to be put in place to mitigate any changes arising as a result of this. But have you stopped to consider how this may be impacting on your workforce?

Your workforce is likely to be feeling equally uncertain about how the next 12 months will look for them. A rise to everyday living costs are speculated putting pressure on the household. Availability of goods and pharmaceutical supplies may be compromised for a period of time.

So, what can you do as an employer to reduce some of your workforces’ concerns: –

  • Communicate – ensure you are keeping your employees up to date with your strategy for the future. This can be done in several ways e.g. company announcements or team meetings
  • Training – identify any training gaps you may currently have to fulfil the company strategy and implementation of changes moving forward
  • Financial Planning – many businesses implement financial planning for staff already in the form of pensions, income protection and life insurance

post-financial-wellbeing

However, not all the above is affordable to businesses already under financial pressure. Training can be carried out in-house or online but expert advice on planning is required for the financial wellbeing of your staff. You may therefore look to take an alternative approach to financial planning using external advisors. Advisors will welcome the opportunity to visit a business to discuss with your staff either in groups or on an individual basis how they can plan for their future without adding cost to the business.

If you would like to understand more about some of the above please do not hesitate to contact me. I’d be happy to discuss with you how together we can add value to your business.


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