Employers failing to support workers during cost-of-living crisis

Only 12% believe employers are effectively supporting their financial wellbeing 

New research from Zellis, the HR and payroll specialists, shows that businesses are falling behind in their responsibility to protect the wellbeing of their employees during the cost-of-living crisis. With living costs increasing to record levels, nearly half (45%) of employees say that money worries are affecting them at work yet just 12% say their employer is very effective at supporting their financial wellbeing.  

The research shows that the cost-of-living crisis in the UK and Ireland is causing anxiety amongst employees, with 73% now more worried about their finances than they were prior to the pandemic.  This number rises to 80% of those with lower numeracy (an assessment of the ability to understand and use maths in daily life), and 81% of those with a diagnosed mental health condition. This shows that employers must take active steps to protect their most vulnerable employees from further avoidable anxiety around their finances. 

Worries over navigating the cost-of-living crisis are also being compounded by uncertainty over the accuracy and reliability of pay, with 38% of employees admitting that they are not fully confident that they understand their payslips, or could spot an error.  

Almost half of respondents (49%) reported that payroll errors, such as being paid late or the incorrect amount, would have a negative impact on their mental health. A additional 36% say checking their payslip makes them feel uneasy and worried about their finance, with a quarter (24%) saying this is because they really don’t understand it.  

“This research sends a clear message to employers: you must do more to support your people through this crisis,” said Gethin Nadin, Chief Innovation Officer at Zellis. “As the cost-of-living continues to hit workers hard, employers must do everything they can to ease anxiety about pay and bridge the numeracy gap to ensure employees are making the best money decisions. This means helping employees to understand their payslips, ensuring financial information is clear and concise, and making employees feel comfortable about raising concerns or questions about pay.”  

With new increases in how much national insurance UK employees pay, and a corrective relief measure for some coming in July, having confidence that you are getting taxed effectively has never been more important. Unfortunately, nearly half (48%) of respondents admit that they wouldn’t be able to identify an error in their tax code. This highlights a worrying potential mental health timebomb, as more than half (51%) claim that a mistake in their pay would lead to stress and anxiety and half say it would lead to financial difficulties, such as not being able to pay rent. 

“At a time when so much is out of employees control when it comes to their money, its clear that employers need to do more to help their people overcome the challenges of a lack of numeracy and financial stress, but it is also on them to ensure that their payroll is accurate and timely,” said Gethin Nadin. “This research shows the implications of simple payroll mistake on employees can be incredibly serious, and these errors are significantly magnicifed during this time of uncertainty.” 

To introduce financial wellbeing best practice and address the clear need for help, Zellis has partnered with Money Helper to support the five million plus employees who currently use Zellis solutions for their payroll and HR needs. Money Helper is a UK Government organisation that provides free budgeting and debt management tools to people in the UK.  

Download the full Payroll and Financial Wellbeing Report. 

Zellis commissioned this comprehensive independent research amongst employees, conducting 2,010 interviews with employees across the UK and Ireland at a non-management level.  

This article was originally published on https://www.zellis.com/resources/press-and-media/financial-wellbeing-2022/ on June 22

About Zellis  

Zellis is the largest provider of payroll and HR software, and Managed Services, to UK and Ireland-based companies with over 1,000 employees. With over 50 years’ experience and over 2,500 employees, we count nearly half (45%) of the FTSE 100 as customers and pay over five million employees a year. We are also the people behind ResourceLink, now part of Zellis HCM Cloud, which won the Chartered Institute of Payroll Professional’s (CIPP) Payroll Software of the Year Award for 2020 and 2021.   

About Gethin Nadin 

Gethin is an award-winning psychologist who has been helping some of the world’s largest organisations to improve their employee experience and wellbeing for two decades. Gethin leads innovation and thought leadership for the Zellis group. In 2018, Gethin published his first book – the HR bestseller ‘A World of Good: Lessons From Around the World in Improving the Employee Experience’, which has gone on to inspire HR and Reward teams at some of the world’s best known brands. In 2022, Gethin co-authored his second book ‘Das Menschliche Büro – The Human(e) Office’ a collaboration between leading academics and workplace professionals from across Europe. 

Benefex announces acquisition of Wrkit

Benefex + Wrkit

After a year of exceptional growth, today Benefex (a Zellis company) has acquired the employee engagement, wellbeing and discounts platform, Wrkit.

10th January 2022, LONDON – Benefex is acquiring Wrkit and its entire product set including employee discounts, wellbeing, recognition and communication tools which combine to support employees both in and out of work. The Wrkit teams in Ireland, the UK and Australia will join Benefex as part the acquisition.

The Wrkit product supports over half a million employees across 300 organisations. Having built the market-leading offering in Ireland, the business has experienced significant growth in the UK and globally over the last few years. The pandemic has further driven demand from employers focused on helping their employees’ money go further, looking after their wellbeing and engaging them in a more remote working environment.  

On announcing the deal, Adam Mason, Global VP at Benefex, who led the transaction said, “This is an exciting acquisition for Benefex. Having successfully integrated the Capita employee benefits business in the last 12 months, the Zellis Group continues to invest heavily to help us build out our world class product suite. OneHub has a huge role to play in supporting organisations to deliver their people strategy in the new world of work.”

Benefex Founder & CEO Matt Macri-Waller said “Having worked in partnership with Wrkit over the last few years, we have seen the passion and customer focus of every person in the business. Bringing the entire Wrkit team and product into our business further supports our mission to help every employee have an exceptional experience, every day. By adding an employee discount offering, a behavioural-science-led wellbeing platform and new communications tools to the OneHub product suite, we can help every customer solve more of their employee engagement challenges than ever before.”

Peter Jenkinson, Founder and CEO at Wrkit, commented, “To date, Wrkit and Benefex have developed a market leading partnership. We are now deployed with over 50 Benefex customers. The combined Benefex/Wrkit offering will enhance the already world class OneHub suite, creating the opportunity for new and exciting tools and, we believe, serve Benefex customers with our best-in-market Employee Discounts, Wellbeing, Move and Learning products. This is the culmination of an exciting first chapter for the Wrkit team but  the start of an even more exciting one with Benefex.

Macri-Waller added, “Our customers’ roles in their organisations continue to expand. Increasing demands are being placed on them each year. This acquisition reinforces our commitment to continue to invest in products and innovations that help our customers solve their largest people challenges.


Benefex media enquiries
Sally Winter
Email: hello@hellobenefex.com 

About Benefex

Benefex is the company behind OneHub, the award-winning employee experience platform. Supporting the employee benefits, recognition and communication for over 1.5 million employees in 650 organisations across 70 countries, Benefex’s OneHub platform is transforming how people experience work every day.

Benefex has won over 50 awards for delivering consumer-grade employee experiences to global organisations including AstraZeneca, Bank of America, BT, Centrica, Capita, Diageo, EDF, Just Eat, Liberty Global, Ocado, Philips, Salesforce and Snowflake.

Find out more at www.hellobenefex.com

About Wrkit

Wrkit through its proprietary technology, delivers learning, wellbeing, recognition and lifestyle savings options which combine to support employees both in and out of work. The Wrkit platform is trusted by over 300 organisations, supporting the provision of core elements of their people strategy.

Across Wrkit’s customer base, it provides access to its modules to over 500,000 employees, which includes brands such as Bank of Ireland, Coca Cola, Deloitte, Hays, IBM, KPMG, Oracle and Vodafone.

About Zellis Group

Zellis Group is the leading provider of payroll and HR software, managed services, and benefits management for companies of every size across the UK and Republic of Ireland. The group comprises three businesses: Zellis, the largest provider of payroll and core HR software and services for businesses with more than 1000 employees; Moorepay, which provides payroll and HCM software and services for SMBs with 50 to 1000 employees, and Benefex, which through its platform OneHub, supports all organisations with employee benefits, recognition and communications. Zellis is a privately owned company with over two thousand employees in the UK, Republic of Ireland and India.

Press Release: Wrkit certified as Healthy Place to Work

Wrkit recognised as trail blazer for their healthy workplace approach

Dublin Tuesday 11th September 2018: Wrkit employee engagement and retention specialists have been officially certified as a healthy place to work. The accreditation came following their participation in the Healthy Place to Work pilot programme in December 2017.

Formally launching later this year, the new global standard for healthy workplaces has a central focus of recognising organisations who are leading the way in creating healthy environments for their employees.

Speaking on the programme objectives, Healthy Place to Work Executive, Fania Stone has said “the healthy environment is measured through the levels of purpose, mental resilience, connections and the focus on physical health found in the workplace, as well as by looking at how health is embedded into the strategy of the business.’

Just five organisations from the pilot received the accreditation, among them were the IRFU and Leinster Rugby.

In response to receiving the certification, Wrkit CEO Katharina Callaghan has commented, “the Wrkit mission is to cultivate healthy habits in work and life. That commitment has always been to our workforce, and to our clients. We embrace collaboration and smart working practices, always striving to empower each employee to shape their own roles and use their skills. Participating in this programme has validated our own approach, we’ve gained some new insights and will leverage these in shaping our own long-term business strategy”.

For references:

Sara Glynn, Marketing and Client Engagement Manager

Email: Sara.glynn@wrkit.com Tel: +353 1 662 4170 (Dublin)


PRESS RELEASE: Employee Engagement Specialist Wrkit Appoints Katharina Callaghan as Chief Executive Officer

Board appointments include Fergus Redahan as Executive Chairman and Jonathan O’Connell as Senior Independent Non-Executive Director.

Dublin – Monday, 15th Jan 2018: Wrkit, the employee engagement and retention specialist, has announced a number of senior board and management appointments. Katharina Callaghan has been appointed as Chief Executive Officer. A German national, Katharina has previously held leadership positions with Google, Living Social, TUI Travel and Lidl.

The Wrkit board has also been strengthened with the appointments of Fergus Redahan (formerly with Goodbody, Davy and the IDA) as Executive Chairman and Jonathan O’Connell (formerly of POWR, Escher Group, Merrion Pharmaceuticals, Spectel and Trinity Biotech) to the role of Senior Independent Non-Executive Director. The board also includes the company’s three founders Peter Jenkinson, Mark Jenkinson and Tom O’Driscoll in Director roles.

Originally established as the Loyalty Benefit provider Groupschemes in 2000, the company evolved into Wrkit in May 2017 with the merger of Groupschemes and POWR, the online wellbeing portal. Wrkit’s online platform complements employers’ efforts to create  best-in-class work environments by providing online tools that facilitate and engage workforces through surveys, recognition, wellbeing, learning and voluntary benefit schemes.

Wrkit has offices in Dublin, London and Boston and its clients include Bank of Ireland, Benefex, Core Media, Doyle Collection, ESB, Fedex, Peter Mark, SAP and Savills.

Commenting on Wrkit’s objectives for 2018, Katharina said: “Having invested in the expansion of our offering over the last two years, our main focus now is to demonstrate to companies how we can help them to nurture their talent and grow company productivity by leveraging the tools and insights gained from the Wrkit platform. The best results are achieved through a highly collaborative approach between us and the client by enhancing existing workplace culture and engagement efforts.”

For reference:

Conor Dempsey, Dempsey Corporate

Tel: 086-247 9892/ E-mail: conor.dempsey@dempseycorporate.com

PHOTOGRAPHY: Photo of Katharina Callaghan, CEO of Wrkit available through link below: