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Lancashire
Thursday, June 13, 2024

CMAC Group introduces financial wellbeing support for UK employees

Managed ground transport and accommodation specialist, CMAC Group, has commissioned financial wellbeing provider, Claro Wellbeing, to deliver a financial education programme to improve the financial awareness and wellbeing of its UK employees.

Claro Wellbeing’s financial experts will deliver a combination of bespoke, one-to-one coaching sessions, interactive company webinars and accessible educational resources, to help employees feel more confident and supported in their roles.

The coaching sessions will provide CMAC employees with bespoke one-to-one coaching sessions arranged at a time and frequency that works for the participant. Employees can choose sessions on a range of topics from improving financial confidence and mastering your budget, buying a home, planning for retirement, strengthening family finances, and investing in property to achieve lifestyle goals.

CMAC employees will be invited to attend an interactive, accessible, and actionable financial awareness webinar. The webinar will be followed by questionnaires to help measure the impact on staff wellbeing.

Neil Micklethwaite, Chief Operating Office at CMAC Group, said: “We chose Claro Wellbeing because it understood exactly what we wanted from a financial wellbeing programme. They were willing to work with CMAC, and our team members, to provide personalised financial education, mentoring and support with a very human touch.

“We were also impressed with the Claro Wellbeing team’s experience and expertise across all areas of banking and finance. And, last but not least, they’re the most innovative financial wellbeing company on the market!”.

Micklethwaite explained: “While finances are front and centre of everybody’s minds at the moment, we wanted a financial education and mentoring programme that offered each member of staff a life-time approach to managing money.”

“There’s never a time in most people’s lives when they aren’t facing some sort of financial challenge, and even day to day money concerns can be a source of anxiety. According to research by the  Money and Pensions Service (maps.org.uk) almost half (45 per cent) of adults in the UK do not feel confident managing their money on a day to day basis.”

“Worrying about money can lead to increased stress and negatively affect mental and physical wellbeing. From an employer’s perspective, a team member suffering from stress won’t be as productive, they’re likely to take more days off sick and even leave work altogether,” said Micklethwaite.

Stacey Lowman, Head of Employee Wellbeing at Claro Wellbeing, commented: “We are delighted to be partnering with CMAC. Our goal is to work with companies, like CMAC, that prioritise staff wellbeing by providing meaningful benefits to support their financial health.

“Studies show that better employee financial wellbeing means improved mental health, productivity, and levels of happiness. This applies across the board, from recent graduates to senior executives; each individual employee has something to gain. As many as five days per year are lost per employee, by them spending time on personal finances, something we want to reduce.

“Our mission is to address the growing financial advice gap and help everyone develop a smarter money mindset. We have already helped thousands on their financial journey, and we are thrilled to be supporting CMAC staff’s financial wellbeing.”

Neil Micklethwaite concluded: “At CMAC we not only say we are One Team, but we also believe it! We see and treat each member of the team as an individual. With Claro Wellbeing’s support we can provide our staff with the tools they need to take charge of their financial wellbeing, reduce stress, and improve not only their work performance but their ability to meet their personal work and career goals.”

To find out more about CMAC Group, please visit www.cmacgroup.com.

To find out more about Claro Wellbeing, its financial coaching and wellbeing platform, visit: www.clarowellbeing.com/.

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