Workplace Financial Wellness Programs Reap Major Benefits for Employers & Employees
Offering a workplace Financial Wellness Program at your company can benefit both your employees and your own bottom line. Financial Wellness programs offer employees education, guidance, and advice related to budgeting, debt management, investing, and saving for retirement. For employers, the direct return on investment could be as much as 300% or more according to a report by the Consumer Financial Protection Bureau (CFPB), a federal government agency. Other research shows additional soft benefits for companies including increased loyalty and brand image.
Companies which have offered Financial Wellness programs have seen benefits from increases in employee productivity, engagement, retention, and loyalty. Companies also benefit from reductions in healthcare costs, absenteeism, 401(k) administration expenses, and liability.
Benefits to the Company
Companies who have implemented financial wellness programs have seen benefits ranging from
Benefits to the Employee
Financial Education Without a Bias
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