You may not realize it, but many of your employees are in financial distress. And they need your help.
It’s Time to Prioritize Employees’ Financial Health
Eighty percent of employees report being financially stressed. Only 28% of employers offer financial wellness programs.
January 02, 2024
Illustration by Lena Yokoyama
Summary.
When an individual has financial health, they experience greater overall well-being and bring their best selves to the workplace. Unfortunately, 80% of employees report being financially stressed, and only 28% of employers offer financial wellness programs. Today’s workers must navigate complicated benefits packages and make critical decisions about their personal finances with limited or no guidance from their employers. This article discusses three steps you as an employer can take to boost the financial health of your employees and alleviate money-related stress and distractions: 1) take an “ecosystem” approach to employees’ financial health, 2) help employees effectively navigate benefits, and 3) recruit an external firm or in-house expert to provide education on financial well-being.