Financial wellness programs

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Few Americans Are Ready for Retirement: Can Financial Wellness Programs Help?

Notwithstanding a strong U.S. economy, only one in four Americans say they feel financially prepared for retirement, according to a report just issued by the Certified Financial Planner Board of Standards: Close to 80% of participants surveyed say they are not reassured that they have the best retirement savings strategies available to them; the CFP

Making financial wellness approachable… for employers

Employers know that their workers’ financial health is causing stress and impacting all aspects of their personal and professional lives. They know that offering tools and resources to address these issues not only improves productivity but can give them a recruiting advantage in today’s job market. They know all of this. Then why aren’t they doing something

Supporting Employees’ Financial Well-Being: What Employers Can Do Today

It’s been just a few weeks since taxes were due, and refunds and finances were top of mind for many. Now that the tax deadline has passed, have people moved on from financial concerns? Most likely, the answer is no. Financial wellness is an ongoing struggle for many American workers as low wage growth, rising

Employee Financial Stress is Costing Employers

Employee financial stress is a growing concern for most employers and employees.  Employee financial stress not only impacts individual employees, but such stress on employees is also a noteworthy expense to employers. The company experiences Employee financial stress in the form of lost productivity, absenteeism and a lack of focus while on the job. John

How to Collect and Use Data to Improve Workplace Financial Wellness

Data can be a powerful resource to guide decisions on selecting and improving financial wellness programs in your workplace. But data can also be easily misused or misunderstood. The first step in leveraging data in the workplace is to make sure you are using the right information. Without knowing what the financial lives of your

Your employees’ financial stress is costing you money

Your employees are currently struggling with personal financial stress, which prevents them from working at maximum capacity. Sure you overhear your employees talking about their lives, but even though financial stress is a huge component, it’s not likely you’ll hear about it. Ninety percent of employees use work time to deal with personal financial issues.

Your Company Just Launched a Financial Wellness Program. Is It The Real Thing Or Just A Sales Pitch?

You’ve received an exciting email message or an eye-catching brochure announcing that your company is offering employees financial wellness benefits. Now what? Is this the best employee benefit you may not have heard of which will give you unbiased guidance to improve your financial wellbeing– or is someone just trying to sell you something? What’s the catch?

Levering tech for financial wellness

When employees struggle financially, their employers struggle. Recent research on short-haul truck drivers conducted at the University of Pittsburgh shows that when employees' financial stress rises, companies experience a $1.4 million increase in costs due to preventable accidents, according to a report, The Cost of Financial Precarity. Intuitively understanding this, more and more employers are

Financial Wellness Programs Take Center Stage with Employers

Five years ago, employers were just starting to provide workers with financial benefits beyond their retirement plan, but now financial wellness appears to be firmly entrenched in the benefits space, according to a recent report. Nearly two-thirds of employers say they are very likely to take steps in 2019 to create or focus on the

These are the 4 smartest financial benefits for employees

Employees are worried about money. Roughly half are stressed about their finances, and nearly two-thirds either say their retirement plans and Social Security won’t be sufficient to support them in retirement or they aren’t sure, according to PwC’s 2018 Employee Financial Wellness Survey. And employers are answering the call for help. In a May 2018 Prudential survey,

5 Financial Wellness Trends for 2019

It’s a new year, and time to look ahead at what it will bring. In 2018, financial wellness was one of the hottest plan advisor trends, and the industry took strong steps toward creating solutions that actually power progress—not only for plan participants and sponsors, but for advisors and for firms. While last year we spent time defining financial wellness, 2019 brings

Seven Employee Wellness Trends And Opportunities For 2019

The corporate wellness industry is constantly evolving, and savvy HR and wellness professionals need to stay on top of emerging trends to ensure their employee wellness program continues to advance. While there are numerous trends emerging in the corporate wellness world today, let's take a closer look at the seven I believe will most affect

Reported Lack of Knowledge Indicates Need for More Financial Wellness Programs

Financial wellness programs are popular and sought after but are rarely offered as an employer-sponsored benefit, according to Corporate Insight’s 2018 Employee Financial Wellness Survey. Of the 1,544 employees surveyed, a mere 221 (or 14%) indicated that their employer offers programs or resources to help improve financial well-being; 63% indicate that they use them when

Study: 94% of US and UK workers report high work-related stress

Dive Brief: All but 6% of 1,600 U.S. and U.K. workers said they suffer from stress, and at least a third of them said they’ve experienced “high” or “unsustainably high” stress, according to a new study by Wrike, “The Stress Epidemic: Employees Are Looking for a Way Out.” The study found that respondents are refusing to tolerate high levels of stress.

How to raise the bar for financial wellness

HR professionals are always on the lookout for the best in employee benefits – more specifically, a robust well-being program for companies who truly want to help their teams get in better shape financially. It’s no longer possible to ignore the ongoing personal finance crisis that’s affecting the lives of millions of American workers. Many employers already have a financial wellness

Debt Needs to Be Addressed in Financial Wellness Programs

Health, money, work and life all play a critical role in an employee’s total well-being, according to a study from Fidelity Investments, based on responses from more than 9,000 workers and conducted in collaboration with researchers from the Stanford Center on Longevity and Cornell University. The survey and behavioral analysis focused on the four domains

Why Many Employees Abstain From Financial Wellness Programs

Something is lacking in employer financial wellness programs. Even though an increasing number of employers are offering these programs and employees express a desire for them, employee participation rates are low. A recent survey of roughly 667 employers who offered 401(k) plans and 657 employees who contributed to a 401(k) plan from Bank of America

Why Workplace Financial Wellness Programs Aren’t Well

Doctor! We have a situation at America’s employers. Some of them are offering financial wellness programs to employees, which is great. But, according to a new Bank of America Merrill Lynch report, there’s a huge disconnect between the kind of financial information and advice they’re offering and what employees really want. Help is needed. Stat! The

How to help millennials tackle 2 major financial pain points

Stress. Shame. Confusion. Embarrassment. That’s what comes to mind for millennial employees when they think about their personal finances. It’s draining employees’ ability to stay focused on the work at hand and maximize their creativity and productivity. According to a 2017 PWC Employee Financial Wellness Survey, 65 percent of millennials reported being stressed about their finances. Additionally, approximately one-third