Table of Contents
Join our community
Money stress doesn’t clock out when your employees clock in. Nearly 60% of workers carry financial stress to the workplace, according to PwC. And it doesn’t just stay in their wallets—it affects their focus, productivity, and overall well-being.
But here’s the good news: there’s something you can do about it.
To combat the negative effects of financial stress and build a stronger, more loyal team, consider offering a Financial Wellness program. This is a widely desired benefit; 60% of employees say they are more likely to stay with an employer that offers a program designed to help them manage their money, according to Morgan Stanley. It’s a small step that can lead to greater stability, focus, and long-term commitment at work.
When employees feel financially secure, they’re more engaged, more focused, and more likely to stick around. In short, supporting their financial health boosts employee morale and grows your business.
What are Financial Wellness Programs, and why do they matter?
Consider financial wellness programs as a support system for your employees’ money matters. They’re not just about numbers—they’re about peace of mind. From helping with budgeting basics and managing debt to planning for retirement and boosting savings, these employee programs give people the tools to feel more in control of their finances.
And here’s why it matters:
Money stress doesn’t stay at home. It follows your employees to work, affects their focus, and can lower productivity. But when people feel secure about their finances, they show up stronger, more focused, more motivated, and more engaged.
Investing in financial wellness isn’t just a perk. It’s a way to show you genuinely care about your team’s well-being. And that kind of support? It goes a long way toward building loyalty, trust, and better performance.
Types of Employee Financial Wellness Programs
1. Financial Education Workshops
These are money masterclasses—practical, easy-to-follow sessions that walk employees through the basics and beyond. From building a budget to understanding credit scores and smart investing, these workshops help people make informed decisions. The best part? They can be held in-person or online, so everyone can join wherever they work.
2. Retirement Savings Assistance
Planning for the future can feel overwhelming. That’s where these programs step in—offering tools, expert advice, and resources to help employees grow their retirement savings confidently. Whether it’s personalized sessions with a financial advisor or hands-on planning tools, the goal is simple: help your team feel ready for what’s ahead.
3. Debt Management Support
Debt can be a significant source of stress, but it doesn’t have to be. These programs offer support where it’s needed most: from credit counseling and coaching to helpful resources that guide employees through managing and reducing their debt. It’s all about giving them a more straightforward path to financial freedom.
Benefits of Financial Wellness Programs for Employees and Employers
For Employees:
-
More Financial
Confidence With the right tools and guidance, employees can take control of their money, manage expenses, pay off debt, or plan for the future. That peace of mind leads to more stability and smarter financial choices. -
Less Stress, Better Wellbeing
Money worries don't clock out at 9-to-5. When financial pressure is eased, stress levels drop, leading to better mental health, improved focus, and a more positive outlook, both at work and at home.
For Employers:
-
Higher Engagement, Stronger Loyalty
When employees feel supported beyond their day-to-day tasks, they respond with deeper engagement and a stronger sense of belonging. Financial wellness shows that a company truly cares, which goes a long way. -
Fewer Missed Days
Financial stress often spills into physical health and time off. By tackling the root cause, companies can reduce absenteeism and build a more present, productive workforce.
How to Launch a Financial Wellness Program
1. Assess Employee Needs and Financial Health
Before anything else, get a clear picture of where your employees stand financially. Are they stressed about debt? Confused about savings? Understanding their needs helps shape a program that works for them.
Try this:
- Send out a short, anonymous survey asking about financial goals and challenges.
- Host small group chats (or virtual ones) to hear their experiences firsthand.
- To spot patterns, look at trends like loan inquiries, retirement plan signups, or benefits usage.
2. Set Clear Objectives for the Program
Don’t just roll something out—set a direction. Clear goals will help you track progress and prove value later.
Try this:
- Pick a few solid, measurable goals. Example: "Increase participation in the retirement plan by 20% in 6 months."
- Make sure these goals fit with your broader wellness or HR strategy.
- Share these objectives internally so everyone's on the same page.
3. Choose the Right Resources and Partners
Not all financial wellness tools are created equal. Some are simple; others offer deep insights. Pick what fits your team’s habits and comfort level.
Try this:
- Compare a few platforms or partners—look for easy interfaces and flexible content.
- Choose tools that work across devices so employees can access them anytime.
- Stick with partners who align with your company values and treat your people with care.
4. Promote the Program Internally
You can have the best Program in the world, but if no one knows about it, it won’t help. A smart internal launch is key.
Try this:
- Use email, intranet, posters, and even town halls to introduce the Program.
- Focus on real benefits—“Want help with budgeting or paying off debt?” sounds more relatable than “Join our new initiative.”
- Get leaders involved to show it matters from the top down.
5. Measure Success and Gather Feedback
A successful program evolves. Keep tabs on how it’s working and what people think.
Try this:
- Look at metrics like how many people signed up, used tools, or improved financial habits.
- Ask for feedback regularly through quick polls or short surveys.
- Use the insights to fine-tune the Program over time.
Are Financial Wellness Programs Right for Your Company?
Financial wellness programs aren’t just for large corporations—they can impact businesses of all sizes. But the key is to understand your team and your capacity.
Ask yourself:
- Are your employees showing signs of financial stress, like frequent loan requests, low engagement, or high absenteeism?
- Do you have the resources (time, budget, or HR support) to offer meaningful financial guidance?
If the answer is yes, even to one of these, a financial wellness program isn’t just a nice-to-have—it’s a smart move. The proper structure and support can improve your team’s focus, reduce stress, and build long-term loyalty. In short, it’s a real investment in your people and your business.
Money Wellness Matters
Financial wellness isn’t just about numbers—it’s about peace of mind. When employees feel more in control of their money, they show up with more focus, less stress, and greater confidence. That’s why financial wellness programs are key to any thoughtful employee experience strategy.
The impact?
- Happier, healthier employees
- Fewer missed days
- A more engaged and productive workplace
Remember, when you support your team’s financial well-being, you’re not just helping them with today’s worries—you’re setting the foundation for a stronger, more resilient company culture.
It all starts with one step. Start exploring what financial wellness could look like in your workplace. The benefits—for your people and your business—are worth it.
