As a wellness entrepreneur and business owner, I am passionate about empowering women in the business world and encouraging them to educate themselves about their finances – and take control.
I am the director of Moddershall Oaks Country Spa Retreat and founder of MADE, a 360 degree wellness centre with an on demand wellness membership, together valued at over £10m.
Continued growth and development is imperative and as such, we have just launched a corporate wellbeing platform to support businesses through one of the “toughest years ever for employees.”
The MADE On Demand is a brand new platform which provides a wellness solution for corporate companies and offers a holistic solution to wellbeing – so crucial during this recent tumultuous period.
We’ve seen chaos in British politics, with money markets panicking and economic policy shifting at rapid speed, which has caused stress for both businesses and employees alike.
These events occurred during an already bleak economic outlook with high inflation and soaring energy bills, making the cost-of-living more expensive for everyone – so it’s even more vital that women are able to take control of their finances.
Events like these affect us all, and business leaders and HR departments will have no doubt noticed that rising uncertainty is starting to take its toll on its employees. Indeed, research has suggested that nearly half of UK workers are close to burnout – and this is not a good sign for financial empowerment for women.
~Novel Serialisation: Heavens Fire~
How did the pandemic affect working women?
Although the pandemic may be over, its effects will be felt for a long time, both in the business world and in our personal lives.
Statistics show that working mothers, senior female executives and black women suffered disproportionately during the pandemic with many being laid off, reducing their work hours, or quitting their jobs, according to consultancy McKinsey.
Gender differences in finances have huge implications on women’s quality of life and without autonomy over their finances, they are very vulnerable, especially in times of crisis as we have just experienced – and are continuing to experience.
It’s almost an expectation that women are responsible for our children and that any support from men is a help as opposed to a given. It shouldn’t be that female founders are applauded for juggling it all – it should be that parents approach parenthood equally, regardless of gender.
I think many women will have experienced this. For example, the call from the nursery to say your child has to be picked up for one reason or another, maybe a cough or a temperature, and the expectation that it is the Mum’s job each time to have a day off work… instead of sharing this out equally.
But the upheavals of Covid-19 forced female founders to make the most of their skills, achieving more with fewer resources than many of their male counterparts.
I saw the business close for 12 months in a 15 month period – but now turnover is at an all-time high with the business recently valued over £10m – because we looked at how we could develop our model and created our on demand platform.
How we moved our business forward
When we were told that businesses were closing and that we had to go into lockdown, it was an immediate focus to look at how we could pivot the business to fit its new context.
We instantly asked how we could offer an online connection to engage with our existing customers as well as communicate with new customers.
Within weeks, we took the wellness centre online, quickly building a digital platform for users to continue to access their favourite classes from home, healthy recipes and support from our team of experts.
The ripple effects of COVID-19 have demonstrated the enormous obstacles women face, but also their resiliency and ability to overcome even the greatest of challenges. With the right tools and supports in place, women will be able to achieve so much more.
“The link between education, self-esteem and confidence to demand better from the workplace, a relationship and society as a whole needs to be very deliberate.’
But it needs to come from a top down approach, too.
From a business perspective, implementing inclusive policy changes that better support women is an investment that can only bring positive returns. If we are there to support women in the workplace, they can gain financial independence and empowerment.
Creating policies that remove gender biases and assumptions about who will stay home and take care of the children is crucial and having leaders who set that example is incredibly important.
How can we help women gain financial control?
Women need to educate themselves in the financial world to make sure they make good decisions. We need to plan for our retirement and to understand the stock market. Just popping some money each month into a savings account is not good enough. You can open a Stocks and Shares ISA with as little as £25 per month and it’s worth taking the time to understand how it works. It doesn’t need to be complicated.
It is estimated that 46 per cent of women are “not too confident” or “not at all confident” about their ability to live comfortably after retirement, compared to only 31 per cent of men who feel that way.
Having a financial goal is a great way to stay motivated and setting one with SMART objectives will help you keep track of how you are moving towards completion.
SMART objectives are specific with a set target date. If you create an action plan, you’ll be able to break it down into daily, weekly and long-term goals and then when you look back, you’ll be able to see how far you’ve come.
How is wellness and financial wellness linked?
I believe employers have a role to play in empowering all their employees to understand their finances and plan for the future and while my focus is on mental wellbeing, a financial wellbeing strategy is also a good step forward and something I am planning for my workforce.
I believe having a financial wellbeing strategy hugely complements mental health as being financially empowered is not about how much you earn but having control over your money and making it work for you. It gives you confidence and takes away stress and anxiety.
I am passionate about sharing my knowledge about nutrition, fitness and relaxation to help people live a healthier lifestyle but I am also passionate about the business world – whether it’s helping employees to holistically look after their wellness or inspiring other women to pursue their dreams.
My view on wellness is that it takes just one small step to change your life for the better. While wellness is a huge buzzword at the moment, to me it means taking a journey to improve your overall lifestyle and make healthy changes.
It is a holistic outlook, focussing on all aspects of health from exercise to sleep to nutrition to meditation and finding time for yourself, whether that’s reading a book or going for a walk in the sunshine. It encompasses looking after your mental health as well as your physical health. It’s a feeling of wellbeing within your life – a feeling of calm and doesn’t just mean you are without health problems.
If you make simple and healthy choices on a daily basis, it becomes a habit and you will be on a journey to reducing stress, having positive thoughts and meaningful relationships.
It’s about developing your whole self and looking for the appropriate ways to make you a healthier, but also happier and more content, person – and that includes female financial empowerment. Knowing you have control over your finances and how to make them work is part of creating a balanced lifestyle.
It’s time to sign up for financial wellness. What’s stopping you?
By Penny Weston
Penny Weston is highly regarded as a fitness, wellness and nutrition expert, and runs award-winning health spa, Moddershall Oaks and leading wellness centre, MADE; a 360 wellness center complete with boutique fitness gym, studios, treatment rooms, retail shop and health café.
Penny focuses on all angles of health and wellbeing from mental health to physical health and she is dedicated to demonstrating how by making small changes to routines, people can experience big results when it comes to happiness, energy levels and mental state.
