Money management is one of the biggest silent struggles employees could be facing. Because financial stress is often viewed as a personal matter, it is among the last reasons supervisors or managers consider for low employee productivity, but data proves otherwise. The 2021 PwC Financial Wellness Survey interviewed 1,600 full-time employed U.S. adults, 63 percent say their stress about finances has increased since the start of Covid-19. According to the survey, these individuals are twice as likely to take out a loan from their retirement or postpone retirement all together.
As an employer, offering financial wellness programs enables employees dealing with money dilemmas to get the critical support they need for personal and professional growth.
“Creating a safe space for employees to share their experiences with financial management and learn real-world techniques to change behaviors as it relates to money not only improves the individual, but the workplace,” said Brent Hines, Chief Development Officer at The Foundation for Financial Wellness.
The most valuable financial wellness program for any organization has the following criteria:
Foundation for Financial Wellness is an educational nonprofit that provides financial wellness courses and counseling to empower individuals to achieve their financial goals. Learn more about our employee programs.