Would you like help to support your staff with money wellbeing?
Not sure how to help?
We know that money worries can affect everyone at some point in their lives; such as ill health, family job loss, disability, caring responsibilities, relationship breakdown or bereavement.
You can do a great deal to help your team members by ensuring that they know where to turn if money becomes a problem. You don’t have to go in ‘too deep’ and fix problems for staff, but by helping them to find the right advice, you could help to reduce their stress and anxiety and possibly also prevent absenteeism and presenteeism.
Signs that Staff may need Support with Money Worries
Use the ‘All about Money’ pages and guidance below to find out when staff may need support with their financial wellbeing, and also what support is available.
Consider patterns of absence; absences at the end of the month or due to stress may be related to issues with money.
The Attendance Policy and Supporting Documents both offer advice on supportive management of absence
The stress of having money worries may affect the workplace performance of a staff member. All employees are required to perform the duties of their post to an acceptable standard.
The Capability Policy and Supporting Documents both provide a clear process to support and manage employees who are required to improve their knowledge, skills or ability to perform their role.
Long Term Health Conditions
A member of staff who has had a diagnosis of a long term health condition, for example cancer, may well be worrying about the financial impact of their diagnosis.
You can signpost or refer staff with a long term health condition to the Support and Information Services (SIS).They offer a wide range of support, and have links to community based advice organisations, including those for free, confidential, quality assured money advice and debt resolution. There is a Support and Information Service in the foyer at Stobhill ACH, New Victoria ACH, Glasgow Royal Infirmary and Queen Elizabeth University Hospital. However, enquiries can also be made over the phone or via email no matter what site the member of staff is based in.
You can also download a copy of Coping with a Health Problem: Help for Staff (pdf). This resource contains a wealth of information to support staff physical and mental health and you can use it during supportive discussions with staff.
Staff who are off Sick and going onto Reduced Pay
A member of staff who has been ill for some time and who has gone onto half pay or no pay will probably have significant concerns about money.
If you are keeping in touch with absent staff, it can help them to ensure that they maximise their income and claim any benefits to which they are entitled. The Support and Information Service will enable them to access this help through money advice services.
Lapses in Professional Registration
NHSGGC employs thousands of staff who are expected to maintain some form of registration with a professional body. The cost of this can amount to several hundred pounds per year. Where lapses in registration occur, consider that money worries may be part of the problem and be prepared to supportively manage and signpost to help.
The NHSGGC Policy on Employment of Statutory Registered Professionals details advice and responsibilities for managers.
You can also support staff by raising awareness of the tax relief that can be easily claimed on professional registration fees.
You could encourage staff to use the NHS Credit Union as a means to budget and save for their professional registration fees.
Family Issues and Caring Responsibilities
Throughout the course of a working life, personal circumstances can change considerably, for example through ill health, family job loss, maternity, disability, caring responsibilities, relationship breakdown or bereavement. At times like these money can sometimes become a worry and staff may need support. A referral to the Support and Information Service will enable staff to access the help they need for many of these issues including access to carer’s support and money advice.
In addition, further information can be accessed from the following sources:
0800 83 85 87
6pm – 2am Mon – Thu
6pm Fri – 6am Mon (24 hrs)