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Article | Catalyst

How education can build financial resilience


By Emma Longmore | November 4, 2020

People who are financially resilient cope well and perform better in the face of financial shocks – particularly like those we have seen recently due to COVID-19.

Resilience is a learned skill that can be enhanced with support and education. A cohesive education program can identify the gaps in your employees’ needs and the tools that help to address them.


Your motivation.


Hear from your employees and look at your data.


Review your current programs and communications.


Deliver, engage, nudge and trigger action.


Impact on employee experience, costs, productivity and culture.

Consider your vision

As you plan your financial wellbeing program, start by thinking about what is motivating you to focus on financial wellbeing, how it aligns with your leadership agenda and company objectives, and the employee experience you are trying to create.

Listen to your people

Research is important to create a financial wellbeing program that will address your employees’ key concerns. Listen to your employees to understand what they want from you and review data that indicates the possible causes of any low wellbeing. Some employee groups may be more affected than others. Identifying them allows you to segment your workforce to provide tailored messages and solutions.

Review your program design

Many employers already have financial wellbeing programs, but it is worth reviewing their design to understand if they are still meeting your employees’ needs and driving desired behaviours. It’s also an opportunity to evaluate the levels of employee awareness and usage.

Enable your people

In rolling out your financial wellbeing program, consider how you can harness technology and identify the right mix of channels to reach employees and make it easy for them to act. Maximise external provider tools such as budget planners, debt management tools and retirement modellers to allow your employees to track and model their finances.

Measure impact

Ongoing measurement will allow you to understand if your financial wellbeing program is driving desired behaviours and if employees are feeling better equipped, healthier and more productive.

Staying connected with your teams shows that you care about them and what they think. The information you collect gives you the opportunity to refine your financial wellbeing program so you can focus on what is truly working – creating greater employee confidence and resilience.

Wherever you and your employees are on their financial wellbeing journey Willis Towers Watson will partner with you to understand their requirements. We can help identify the opportunities available to support your employees’ financial wellbeing and assist you in implementing an effective program as part of your broader wellbeing strategy.


Head of Communication, Australia

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