FAQs – For Employers
Have a question? We want to make sure you have all the information you need, so we hope these questions and answers help. If you have something else to ask that is not covered here, please do get in touch with us and we will be pleased to help.
What is Financial Wellbeing?
Financial wellbeing is more than just having money in the bank or earning more. Financial wellbeing is about having a healthy relationship with money, feeling secure, in control, and confident about your financial situation, both now and in the future.
Financial wellbeing is essential to overall life satisfaction, impacting all aspects of life, including physical and mental health, and relationships.
Why should companies implement a financial wellbeing programme?
Effective financial wellbeing programs are proven to enhance employee productivity and engagement, reduce financial stress-related absenteeism, and improve employee job satisfaction and retention.
What is WellFi?
WellFi is a complete financial wellbeing solution for employees offering personalised financial education through engaging videos and tools, twenty-four hours a day, on any work or home device.
For employers WellFi helps foster a happy, healthy and more productive workforce. It gives a crucial insight into staff needs, enhances awareness and understanding of existing financial benefits, all while reducing the burden on HR.
Who is WellFi for?
WellFi is for organisations who want to support their employees and give them access to an engaging and innovative solution to take control of their finances. With easy mobile access to dynamic financial education, WellFi is a smart and cost-effective way to support your employees and invest in the success your business.
Which employees benefit from WellFi?
WellFi is designed for everyone working across the UK, whether they’re just starting in their career and financial journey or experienced with financial matters. WellFi has a library of knowledge to impart, from understanding the basics of renting or insurances, through to more advanced and complex topics like managing tax efficient investing or estate planning.
How does WellFi work with an existing wellbeing package?
WellFi is a complete and holistic financial wellbeing solution. which can operate as a stand-alone solution or complement an existing wellbeing program. WellFi’s design means it can act as a hub for all your other financial wellbeing benefits, giving your employees a one-stop shop for education, financial benefits and the external services you offer.
Is WellFi Associated with any financial institutions?
No, WellFi is fully independent, providing impartial, personalised financial education. You can be assured that we will not push any financial products or providers to your employees.
Why is WellFi focused on video learning?
Research shows that people retain 95% of the information they watch, and only 10% of information when they read. Our bite-size videos (typically 3-4 minutes long) can be accessed anytime, anywhere and can be paused and rewatched - ideal for employees with busy schedules.
Is WellFi accessible to all?
Yes, WellFi has been designed with accessibility at its heart.
All topics can be watched as a video or listened to as a podcast, supporting users with reading difficulties and visual impairments.
All of our videos have the option of full subtitles for those with hearing difficulties, and each video topic has a succinct summary sheet available to download to read at leisure if preferred.
Which financial topics does WellFi cover?
WellFi covers financial topics which affect individuals through all stages of life. Through bite-sized, jargon-free videos and tools, we help with day-to-day budgeting, loans and credit, mortgages and renting, family finances, savings, insurance, retirement planning, state benefits and many more.
What tools does WellFi provide?
Applying knowledge is often the key to learning and embedding good habits, that’s why our easy to use tools and calculators are available to help deepen employees’ understanding and put their new financial knowledge into practice. Whether you’re considering taking out a loan or comparing mortgage products, our calculators are there to help.
Can I include company benefit information on the WellFi portal?
Yes, we even encourage it. Having factsheets and application forms to hand within the application, allows employees to take action seamlessly, increasing benefit take-up all while reducing the burden on HR.
Can you create bespoke company videos?
Yes, we can script, film and produce videos which explain your bespoke company benefits or services. These can all then be hosted and promoted within the WellFi portal to heighten awareness and encourage take-up.
Can I trial WellFi?
We’re always happy to discuss the best options for you and your workforce.
Contact Katy or one of the team
info@wellfi.co.uk 020 3916 5136
or leave your details on our contact page and we’ll get in touch
How does WellFi work with our IT systems?
WellFi is a self-contained portal, giving your employees twenty-four hour access from any home or work device. If you have an existing benefit platform, access to WellFi can be achieved through a simple link or tile. There is no heavy lifting needed.
Who creates the WellFi financial education content?
WellFi content is created in-house by our highly qualified team of finance and investment professionals to ensure the highest quality, impartial, information.
It’s then delivered by our team of professional presenters in a clear, friendly and consistent style to support employees’ learning in a simple and accessible way.
Is content current and how often is it updated?
Yes, we ensure that all the content is current, relevant and useful, and it's reviewed regularly to ensure its accuracy. The world of finance can move quickly and without warning so there may be occasions where we remove content temporarily and reload it to the WellFi platform when it’s been updated.
Can you measure engagement?
Yes, we believe understanding your employees’ engagement is key to an effective financial wellbeing strategy. We provide regular (anonymised) statistics and usage reporting to show how your employees are engaging with WellFi and the topics of interest.
Is your solution suitable for a Global company?
WellFi is designed for the UK working population. This is deliberate so that questions and topics can be explained with the depth required applicable to the UK and to be meaningful and useful to users. When it comes to financial topics there are large differences in financial language, laws and provisions across countries so expanding topics Globally would mean only being able to touch on topics at a high level.
How is WellFi charged?
Your organisation can buy licenses for the WellFi portal for your employees. These can be allocated amongst your workforce and licenses updated with staff turnover.
Each license is charged on a subscription basis depending on your chosen term and the features you’d like to include.
What are the next steps if I want to buy WellFi?
Contact Katy and the team directly
020 3916 5136, info@wellfi.co.uk
or leave your details on our contact page and we’ll get in touch.