Although we have seen recent indications that inflation is coming down in the U.S. market and employment levels are up, most people are still struggling financially. More than three-quarters of Americans live paycheck to paycheck and the stress is harming their productivity.

HR teams can help employees lighten the burden of financial stress and struggles by having open conversations about financial challenges and ways to alleviate them, but only if they know where to start. Understandably, people are often reluctant to talk about their money problems with office colleagues, particularly those in leadership roles.

HR leaders have several avenues of approach to kick off these vital conversations, starting with a shift in their own thinking. Here are a few tips HR leaders can use to initiate productive conversations with employees about their finances to help improve their financial wellbeing and address their financial stress.