Financial security, characterized by a lack of worry about money and the perception that one has enough money, is an important contributor to one's well-being. According to Gallup research "a lack of worry about money has more than double the impact of income on overall well-being," and the feeling that you have enough money to do what you'd like "has three times the impact of your income alone on overall well-being."
Survey data shows that employees' financial situation is their number one source of stress. It's also a drain on employees’ productivity. Employers are taking note and many are offering an array of solutions to help employees reduce finance-related stress that go well beyond traditional retirement planning. These include:
2019 Health and Financial Wellbeing Mindset Study: The State of Employee Wellbeing
This report details the findings of the Alight/Business Group Health and Financial Wellbeing survey, a study that uncovers employees’ experience and attitudes around workplace wellbeing.
Strategies to Support Employees’ Financial Security
Presents the business case for implementing financial well-being programs or benefits, and provides an overview of the strategies some employers have in place to help employees become more financially secure.
Employee Emergency Relief Funds
Survey data on how many employers offer Emergency Relief Funds (ERFs) and how they are managed.
Blog Post: Employers Embrace Financial Well-being Programs
Outlines data showing employers’ robust financial well-being offerings.
Seeing the Bigger Picture: Beyond Wellness to Well-being
Presents the business case for developing a broader well-being strategy. It also provides an overview of five factors that contribute to well-being and that large employers can influence within their own organizations.
Blog Post: Health and Well-being Across Generations
Makes the case for employers taking a refreshed look at how they develop benefits and programs based on what is most important to employees at each life stage.