8CIOReview | | DECEMBER 2022IN MY OPINIONMONEY MATTERS: FINANCIAL WELL-BEING AT WORK CAN CHANGE THE GAMEBy Ashan Ransilige, Vice President, Head of Human Resources ­ Retail Sector, John Keells Holdings PLC, Sri LankaMany organizations worldwide have recently advocated and actively enhanced overall employee well-being to the heart of their HR strategies. In previous years, benefits to improve employee's emotional and physical health were essential, with a focus on employee wellness, particularly during the pandemic. However, the current global economic situation ­ inflation, a potential new COVID wave, and increased resignations together with skill migration ­ requires employers to find ways to upgrade or introduce financial wellness benefits to their people. It is critical to creating a healthy workplace in which people can thrive, reach their full potential, and make a major contribution to the organizational performance. The moral and business justification for supporting employees' financial well-being at my workplace has never been stronger given Sri Lanka's soaring cost of living, which is putting an increasing number of employees at danger of experiencing in-work poverty. In these challenging times, Keells, a leading supermarket chain with a strong presence across Sri Lanka, has recognized that by delivering on all facets of employee well-being, including greater financial wellness assistance, it will likely have a positive impact on employee engagement, productivity levels and retention rates.There is a common misperception in the corporate world that financial wellness is a 'nice-to-have' perk. In fact, having it is a necessity and a strategic imperative. Previously, it was believed that managing Ashan Ransilige
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