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Growing A Financially Resilient Workforce With Spring

 Spring is excited to announce the launch of its digital financial education platform. An incentivised platform designed to build the financial resilience of your workplace and increase your team’s productivity, engagement and retention.

The current financial health of New Zealanders is alarming, with the financial impact of COVID-19 exacerbating this issue. 608,000 New Zealand households live in financial hardship, with 715,000 additional households at risk of tipping into hardship.

Given this dynamic, it’s no wonder that financial stress is one of the leading forms of workplace stress. 83% of employers say that money problems impact employee productivity. With 20 hours lost per employee per month sorting out personal financial worries.

Employers have an opportunity to change these statistics. Spring empowers employers to go beyond the paycheck. Through their gamified digital financial education platform, employees are motivated to grow their financial knowledge and can connect with the wider ecosystem of financial help, such as Fincap. By providing Spring’s digital financial education programme in your workplace, you have an opportunity to free your employees from their biggest source of stress. With decreased stress, employees are more engaged, more productive and have a higher rate of retention.

Investing in workplace wellbeing isn’t a matter of if, but a matter of when and how. If you’re not investing in wellbeing, you’re missing out on money. New figures from the New Zealand Institute of Economic Research (NZIER) have found that for every dollar you spend on staff wellbeing, you will earn an average of $5 back on your investment within a year — money that is otherwise lost to poor productivity. In fact, this return on investment can go as high as 12:1 — or $12 back for every dollar spent on wellbeing.

Join the Spring team this Friday, for their webinar event: A financially resilient workplace: Benefiting your business and employees. Join our panellists for a discussion and Q&A about financial wellbeing and the role it plays in the workplace. In this session, we will hear from industry experts about:

  • The latest financial wellbeing research and statistics
  • The impact that poor financial health has on employee performance
  • The business benefits of having a financially fit workplace
  • What organisations can do to support and empower their employees' financial health

Company info: Spring is a Wellington-based EdTech company with the goal of building a financially resilient Aotearoa New Zealand. Spring started as a Ministry of Social Development project, founded on the experience and expertise of those working in the financial hardship space. Spring is now available to all workplaces nationwide! To find out more, check out their website: https://spring.kiwi/ or contact the team at info@spring.kiwi

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