15 Jun 2018

White paper: Financial Wellness: The Topic You Can’t Afford to Ignore

Uncovering the number one threat to business performance and how today’s employers can win. Money worries won’t just affect your employees at home, but will also follow them to your workplace. Benify’s latest eBook, dives deep into the issue – revealing the true cost of financial worries to your business and what you can do about it.

Key findings

The paper finds that more than half of employees are very or somewhat stressed about their financial situation. The top three stress factors were: saving for the future (67 per cent); paying monthly bills (57 per cent); and credit card debt (42 per cent).
53 per cent of employees in a Bank of America Merrill Lynch survey reported that stress caused by their finances regularly interfered with their ability to focus and be productive at work.
The Consumer Financial Protection Bureau says on average, employers can expect a return of $3 for every $1 spent on financial wellness programmes.
The paper outlines several things that employers can do to improve financial wellness including: leverage employee data and insights; maximise engagement; educate employees and offer the right tools and services.

This paper presents the view that financial wellness is about being free from worry and the achievement of life balance. It examines employees’ fears and paints their profiles. It also reveals innovations, best practices and tips for companies to consider as they explore the topic.