Employee financial wellness: 5 financial stress statistics for 2020. How much financial stress costs employers and how employees really feel about financial wellness programs.
The latest Financial Stress Survey from John Hancock Retirement found that financial wellness programs improve job retention, stress levels, and job productivity. Financial wellness programs are now a component of employee benefits that employers can’t afford to ignore.
Employee Financial Wellness: 5 Financial Stress Statistics for 2020
Here are the top 5 most important findings from the report:
Financial Wellness Programs: Personalization Is a Must
Almost 90 percent of employers say they currently have or are developing a financial wellness strategy, but only 20 percent of employees claim their employer offers anything more than a limited financial wellness program, according to the report by John Hancock Retirement.
While most employees are experiencing financial stress, they’re all experiencing it in different areas and to different degrees. That’s why it’s increasingly important that employer solutions like financial wellness programs have capabilities for customization and personalization to make sure they can address each employee’s unique financial pain points.
Financial wellness programs, like Best Money Moves, are mobile, personalized, gamified and easy to use. Best Money Moves provides practical, unbiased help so employees can make smarter financial decisions.