Every HR lead gets asked the same question in the budget meeting: is it worth the money?
It's a fair question. Financial wellbeing benefits range from free to expensive, and the most expensive aren't always the ones that make the biggest difference. Our 2026 Elephant in the Room report found only 20% of employers have ever formally asked their people about financial wellbeing, so a lot of benefits budgets are spent on instinct.
So we've rated 10 common financial wellbeing benefits out of 10 for value: how much they typically cost the employer, set against how much difference they make to employees. The top scorers get our best buy label.
Each benefit gets an overall value score out of 10, based on four things:
Cost to the employer: set-up, ongoing cost and admin, rated low, medium or high.
Everyday impact: how much it helps with the money worries people actually have, like getting to payday or coping with a surprise bill.
Reach: how many of your people are likely to use it and benefit.
Effort: how easy it is to use, and whether it keeps working without people having to remember.
These scores are our view, based on what we see working with employers. They rate types of benefit, not individual providers. We offer some of these benefits ourselves, so we've tried hard to be fair, and we've been honest about the limits of every one.
| Benefit | Cost to employer | Value score | Verdict |
|---|---|---|---|
| Payroll savings | Low | 9/10 | Best buy |
| Signposting to free help | Free | 9/10 | Best buy |
| Earned wage access | Low to medium | 8/10 | Best buy |
| Shared Cost AVCs (public sector) | Low | 8/10 | Best buy |
| Salary sacrifice schemes | Low | 7/10 | Good value |
| Financial education | Low to medium | 7/10 | Good value |
| Financial coaching | Medium | 8/10 | Good value |
| Hardship funds | Varies | 6/10 | Worth considering |
| Higher employer pension contributions | High | 6/10 | Worth considering |
| Employee discounts | Medium | 4/10 | Limited value |
What it is: employees save a set amount straight from their pay every payday, into a savings account in their name.
Why it scores well: a small savings pot is what stops a surprise bill turning into debt, and saving from pay makes it happen without willpower. Cost to the employer is usually low, mainly payroll set-up. Reach can be excellent: Nest Insight's trials found opt-out approaches lifted participation by 50 percentage points. Workplace savings now has national backing, too.
Watch out for: it builds resilience over time, so it won't help someone who's short this week.
What it is: making sure people know about free, impartial services such as blogs, MoneyHelper, Citizens Advice and StepChange.
Why it scores well: it costs nothing but a bit of time, and for anyone in serious debt, specialist free advice is exactly the right help. Every employer should do this, whatever else they offer.
Watch out for: on its own, it relies on people asking for help, and most don't.
What it is: lets employees access part of the pay they've already earned before payday, for genuine pinch points like a car repair or a broken boiler. Read more in 'what is earned wage access and should you offer it to your team?'
Why it scores well: it tackles the most immediate money worry, getting to payday, with a safety net that isn't an overdraft, a credit card or a payday lender. It's used privately, so people don't have to ask anyone, and it suits shift workers whose pay varies. Costs vary by provider, so ask for the full picture of employer and employee fees.
Watch out for: it should be a safety net, not a lifestyle. Choose a scheme regulated by the Financial Conduct Authority, with sensible limits on how much people can access.
What it is: lets Local Government Pension Scheme (LGPS) members top up their pension straight from salary through salary sacrifice, with Income Tax and National Insurance relief helping their contributions go further. Find out more in what's a Shared Cost AVC and why does it matter?
Why it scores well: it makes topping up a pension simple and tax-efficient, and the cost to employers is usually cost neutral because they save National Insurance on the sacrificed salary too. Tax relief depends on individual circumstances, and pension investments can go down as well as up.
Watch out for: it's only available to LGPS employers.
What it is: cycle-to-work, electric car and similar schemes that let employees pay for things from gross salary.
Why it scores well: often cost-neutral, because they save National Insurance too.
Watch out for: these help with specific purchases, not everyday money worries, and they reduce take-home pay, which may not suit lower earners.
What it is: webinars, guides and workshops on budgeting, debt, saving and pensions.
Why it scores well: low to medium cost, and it helps people make better decisions across the board.
Watch out for: knowing what to do and doing it are different things. Education scores much higher when people can act on it straight away, alongside tools like payroll savings.
What it is: one-to-one support, or an AI coach such as Max from My Money Matters, to help people work through their own situation. It's guidance, not regulated financial advice.
Why it scores here: very valuable for the people who use it. Human coaching relies on people reaching out so encouragement is needed, best used alongside digital tools to reach more people.
What it is: grants or interest-free support for employees facing a genuine emergency.
Why it scores here: vital when it's needed, and the cost is whatever you choose to put in. But people often find it hard to ask, so take-up can be low.
What it is: paying more into employees' pensions than the legal minimum.
Why it scores here: a big long-term boost, and highly valued by people who think about their pension. It is incredibly valuable but it does little for someone struggling to get to payday. By it's own, it is not the best investment for financial wellbeing.
What it is: money off shopping, travel and leisure.
Why it scores low: popular and cheap to offer, but discounts help people spend, not save. They don't build a safety net or help anyone reach payday, and they often need money upfront.
No single benefit covers everything. The best value comes from covering three everyday needs together: getting to payday, building a safety net and planning for later life, with education and signposting alongside.
The other thing that matters is effort. Benefits that work automatically every payday keep working long after the launch email. Benefits that rely on people remembering to log in tend to fade.
And if you'd like to see how On-Demand Pay, Auto Savings and Shared Cost AVCs work together in one app, book a demo.
In our ratings, payroll savings, signposting to free help, earned wage access and Shared Cost AVCs (for LGPS employers) give the best value. They're low cost to run and help with the money worries people actually have.
Signposting to free, impartial services such as MoneyHelper costs nothing. Payroll savings, on-demand pay and salary sacrifice schemes are also usually low cost.
They're popular and cheap, but they help people spend rather than save.
It depends on the benefit. Some, like salary sacrifice pension contributions, have tax advantages, while others may be taxable benefits in kind. Check each one with your payroll or tax adviser.