2020 Employee Financial Wellness Report
Feature Points
Learn employee preferences for financial wellness programs, and how these differ by demographic.
Learn what motivates employees to use an employer-provided financial wellness program.
Description
The work environment is no longer what it once was. Employees not only weigh salary when deciding on a job opportunity, but they also weigh the employee benefits that are provided with a position. The expectation of benefits no longer limits itself to health care and retirement; today’s employees also value benefits that will help them in other ways.
A majority of Americans can agree that money is their most constant stressor. This makes a financial wellness program a valuable benefit that companies can provide for their employees. This type of program can increase financial knowledge, reduce stress, and encourage positive behavior amongst employees. Our survey results revealed that less than 50% of respondents feel like they are financially well. It also revealed that preferences for financial wellness differed substantially between demographics like gender, age, and income level - making it important to provide customized benefits to serve each population.
