Confidence is not merely a personal virtue — it is an economic force. New Bank of Ireland research, released this week to support the launch of its ‘Right with you’ brand platform, finds that 51% of people feel confident about their personal financial situation over the next year, and 59% are comfortable discussing money with family or friends. For C-suite leaders, a population gaining financial footing is one more likely to spend, invest and engage.

The research positions confidence as the central variable in economic behaviour. Where it exists, people act — buying homes, starting businesses, committing to long-term plans. Three structural gaps warrant attention: the divergence between short and long-term financial confidence; the persistent gender gap; and the link between financial anxiety and untapped participation.

Short-term confidence is solid, but long-term confidence is fragile. The Bank of Ireland research finds 83% feel confident managing bills and subscriptions, and 77% can spot scams. Yet only 30% believe they could change jobs for better pay, and just 24% feel confident asking for a rise. Prof Ian Robertson, Professor Emeritus in Psychology at Trinity College Dublin and author of How Confidence Works, identifies the cause: confidence in longer-term decisions depends on the right knowledge and skills — a foundation built with information, support and tools.

The gender gap is a material opportunity cost. Some 80% of men describe themselves as confident, against 64% of women; just 17% of women feel confident asking for a pay rise, compared with 32% of men. Bank of Ireland’s Financial Wellbeing Index shows over half the population — 52% — find thinking about finances anxiety-inducing. That anxiety concentrates among women and younger adults, precisely those with the greatest lifetime contribution ahead.

The implications for employers are direct. Workforce participation, pension uptake and investment behaviour are confidence-dependent. When large segments feel unequipped to navigate long-term decisions or advocate for better pay, those gaps appear in retention, productivity and retirement outcomes — costs borne by organisations and individuals alike.

Three actions follow. Employers should embed financial wellbeing programmes in standard benefits, treating confidence as a capability to build rather than a fixed trait. Financial institutions should design advice pathways for complex decisions where confidence drops sharpest. Boards should track the gender gap as a business metric, given its measurable effect on pay negotiation, career progression and output.

Ireland is, on the evidence, a broadly confident nation. But the Bank of Ireland research makes clear that confidence is unevenly distributed and fragile beyond the near term. For C-suite leaders, that gap is not a wellbeing concern alone — it is a productivity, retention and growth challenge. Organisations that build financial confidence among their people will find it repaid in engagement, ambition and performance.

(The views expressed by the writer are their own and do not necessarily reflect the views or positions of BusinessRiver.)