Employee Financial Wellness Solutions

Why Is It Important to Offer Employees a Financial Wellness Benefit?

Every day your employees struggle with their personal finances is another day they’re distracted during meetings or checking their bank accounts instead of their emails.

The success of your company or organisation depends on the well-being of your employees. Check out these stats :

• 36% of employees miss work due to a financial problem in their personal lives
• 56% of employees feel like they can’t get ahead with their personal finances
• 56% of employees experience burnout at work in the last month
• 51% of employees said money stress has negatively affected their mental health

Bottom line: Your employees can’t improve their finances on their own. They need your help. Without a financial wellness benefit, they’ll continue to struggle—and so will your business.

What Kind of Financial Wellness Benefits Do Your Employees Want?

Helping your employees with their money might sound like a roundabout way of saying you should give your employees a raise—but that’s not the only way to help. Sure, that might be the answer for some employees, but if you’re paying the market average or above, more money doesn’t always help. Behaviour change, on the other hand, always helps.

And a good financial wellness benefit can help change your employees’ money behaviour. Most employees want help managing their finances. A whopping 73% of those surveyed in The 2022 said they wish their employer offered more financial wellness resources.