As cost-of-living pressures including housing, food, transport, and energy continue to affect many of us, organisations are increasingly considering how best to support their workforce during challenging times. Thoughtful, employer-led initiatives can make a meaningful difference to employee wellbeing while also strengthening trust, engagement, and organisational resilience.
Below are key considerations and practical examples of support that employers may wish to explore.
Financial Wellbeing Programmes -
Financial Literacy Workshops
Offer workshops covering topics such as budgeting, debt management, saving strategies, and basic investment principles. Partnering with independent financial advisors, banks, or community organisations can help ensure guidance is credible, practical, and accessible.
Access to Financial Counselling
Providing confidential access to financial counselling services, such as Employee Assistance Program (EAP) can be highly valuable. Financial counsellors can help employees assess their current situation, develop personalised plans, manage debt, and identify pathways to improved financial wellbeing.
Salary Packaging and Benefits Advice
Offer guidance on salary packaging options and workplace benefits that may help employees maximise their income. This could include information on KiwiSaver contributions, health insurance options, or access to employee discount schemes (e.g., corporate rates for gym membership).
Tools and Resources
Provide access to trusted online tools and educational resources, such as budgeting apps, calculators, and financial planning materials. Free resources are also available through the Money Talks website, which offers helplines and practical financial information.
Employee Benefits and Practical Support -
Flexible Work Arrangements
Flexible working options — such as remote work or flexible hours — can help employees reduce transport, childcare, and other daily costs, while also supporting work–life balance.
Subsidised Transportation
Subsidies for public transport or company-sponsored shuttle services can ease commuting costs and improve access to work, particularly for employees travelling longer distances.
Employee Discount Programmes
Partnering with local businesses to offer discounts on everyday goods and services can provide immediate, tangible savings.
Hardship Funds
Establishing a hardship fund, even on a modest scale, can provide critical short-term assistance for employees facing unexpected financial challenges.
Health and Wellness Programmes
Comprehensive health and wellness initiatives can support overall wellbeing and help reduce longer-term healthcare costs. These may include Employee Assistance Program (EAP), health insurance options, and access to preventative healthcare services (e.g., vaccinations, annual health checks, and corporate gym rates).
By taking a proactive and compassionate approach to financial and practical support, employers can play an important role in helping employees navigate cost-of-living pressures. Even small, well-considered initiatives can have a significant impact — fostering a healthier, more supported workforce and reinforcing a culture of care, trust, and resilience across the organisation.
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