Benefits and Beyond: How Employers Think About Financial Wellness
As a long-standing provider of employee benefits; Prudential sponsored a survey to gain perspective on how employers think about their benefits programs overall, and gauge the role that financial wellness programs play.
Employers have a vested interest in promoting the financial health of their employees. Employees who are saddled with financial stress may have a negative impact on productivity, absenteeism, and the cost of health plans. In addition, employees with financial stress may not be able to retire when they wish, which can be costly to employers, and create workforce management issues. To address these issues, increasing number of employers are implementing financial wellness programs that provide education and tools to help employees adopt financial behaviors to be manage day-to-day finances, achieve important long-term financial goals, and protect against key financial risks.