Did you know that finances and the economy are among the top stressors for Americans,1 and those worries carry over into the workplace? It’s true. In the second annual Morgan Stanley at Work State of the Workplace survey, 71% of employees said that money-related stress negatively affects both their work and personal lives. Helping workers fine-tune their budget could help reduce that stress.
Cultivating a more financially resilient workforce can help boost productivity and engagement—a win-win for both you and your employees. Those who have access to financial wellness support from their employers say it can lead to more satisfied, loyal, engaged and productive employees.2
Yet offering financial wellness programs is just the first step. Building awareness and consistently communicating about these programs is equally critical—and is an area where employers may be lagging. In fact, 96% of HR leaders and 89% of US employees say their companies need to improve on helping them understand how to maximize their financial benefits.3 That creates an ideal opportunity for employers to offer assistance in the form of access to financial education and planning tools.