Employer resources – free debt advice for employees

As a referral partner to Employee Assistance Programmes (EAPs), unions and directly to employers, PayPlan gives free debt advice to employees who have multiple debts and need independent advice.

Why should I offer free debt advice in the workplace?  

Worrying about money can lead to sleepless nights, feelings of anxiety and can affect performance at work.

Our 2019 research on debt and mental health found being in debt causes stress (91%), depression (68%) and anxiety (84%) and almost a third of people in debt spend time worrying about how it will impact their work.

Good physical, mental and financial health are all important factors for your workforce, no matter their background or role within an organisation. Being in debt and feeling out of control financially can put a lot of strain on a person. Salary Finance has researched into the true cost of poor financial wellbeing for organisations.

Employer’s guide to Financial Wellbeing 2019-2020 report shows:

  • 36% of employees are worried about money, those people are 14.6 times more likely to have sleepless nights
  • 2.7 hours per week are lost on money worries and one sick day a year for financial stress
  • Employees who are worried about money are 12.4 times more likely to not be able to finish daily tasks

How does PayPlan help people in debt?

We work hard to make accessing advice easy. As one of the UK’s most trusted free debt advice providers, we help over 100,000 people every year with confidential advice and personalised debt solutions.

Benefits of contacting PayPlan:

  • People can get in touch via the telephone or a secure digital debt advice route
  • We will go through a full assessment of a person’s income and outgoings, identifying priority payments
  • Where appropriate, our expert advisers will make a recommendation and explain pros and cons of all available debt solutions
  • Our advice is free, confidential and regulated by the FCA

    What are the benefits for workplaces to refer to PayPlan?

    People who are worried about money can get in touch with an expert adviser through our dedicated employee web referral page, or you can set up your own secure referral method by contacting a member of our partnership team.

    This offering can improve existing employee wellbeing packages and help employers, unions and EAPs to go beyond their duty of care and reduce financial stress.

    Employees can get in touch via:

    What benefits will employees get by contacting PayPlan?

    One of the most overwhelming responses to our ongoing client feedback is that people wish they had got in touch with one of our advisers sooner. The sooner that someone addresses their financial concerns, the quicker they will be able to get a plan in place to reduce their debts.

    Employees can benefit from:

    • Reduced money worries
    • Becoming debt-free
    • Protecting your family and home
    • Reducing creditor calls
    • Confidential advice
    • Speaking to a qualified debt adviser
    • Tailored debt solutions
    • Secure online account management once in a plan

    PayPlan advises on all available debt solutions across the UK and we have a dedicated Scottish team for those who are living in Scotland. Our advisers take their time to understand each individual’s financial circumstances, current situation and future aspirations before recommending the best debt solution that will meet their requirements. Employees can then choose the outcome that is right for them.

    Help reduce employees’ money worries – get in touch

    Start your free debt offering today and support your financial wellbeing strategy.
    Contact: partnershipsupport@payplan.com
    Call 01476 518 178

    What more could I be doing to reduce money worries?

    We provide regular blog content to our union, employer and EAP partners to educate colleagues on the signs of money worries. A lot of our content is also geared towards removing the stigma around debt – giving people practical ways to talk about the subject. Early intervention will always result in the best outcome.

    If you’d like to receive regular blog content on a monthly basis then you can email our Partnership Team.

    Our partnership team and money experts offer several training courses. Look at our training section or get in touch to find out more.

    Free resources and information for advisers

    Client leaflet – why choose PayPlan

    Once you have referred an employee to PayPlan, you may wish to send them some more information about us and how we can help. Email a copy of the Why choose PayPlan leaflet to your employee.

    Ready to start offering employees free debt advice?

    Get in touch with partnershipsupport@payplan.com