Financial Well-Being Becoming Top Initiative for Employers

A More Holistic Approach

Wellness programs are beginning to take a more holistic approach to health and well-being. This means components such as mental, social and especially financial well-being, are just as important as physical health. Addressing financial stress is becoming more and more popular because it affecting employees in and out of the office. According to Aon Hewitt’s Hot Topics in Retirement and Financial Well-Being survey, financial well-being has become a top initiative for employers in 2017.

Financial Well-Being

Employers are starting to realize that financial stress affects their employees’ health and well-being, and 86% of employers plan on communicating this correlation to their employees. Other than to improve employee health, some other top reasons employers are choosing to incorporate financial well-being programs include:

  • To increase employee engagement
  • Improve productivity and decrease absenteeism
  • Decrease healthcare costs

This survey also indicates that upcoming financial well-being programs will aim to help employees in all life stages, from student loans to retirement. They will educate on budgeting, saving, investing and debt management in an effort to improve financial literacy and reduce financial stress. To read the full report, click here!

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