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Align Financial Wellness Metrics with Business Outcomes

Key Takeaways

The outcomes employers seek from their financial wellness programs should align with their business objectives.
Proof points may reflect employee engagement, employee actions and behaviors, and business outcomes.
As a start, a financial assessment tool can help to determine where employees are on their financial journey.

More than half of Americans say their financial health declined during the first months of the COVID-19 pandemic.¹ Not surprisingly, poor financial health can lead to financial stress, which can also affect physical and emotional health. The combined stress can negatively impact not only the individual, but also employee productivity in the workforce. All this helps explain why 55% of employers now plan a renewed focus on helping employees manage and improve their financial wellness.²

While many employers view this as simply the right thing to do for their employees, most also want their wellness programs to help them achieve their business goals. Fortunately, there is growing evidence that financial wellness programs can help businesses achieve better business outcomes.

The financial challenges posted by the pandemic have made financial wellness programs and the benefits they can deliver more important than ever. A good financial wellness program will target outcomes relevant to the individual employer’s workforce, provide levers to help employees work toward those outcomes, and incorporate metrics or proof points to accurately measure results.

To learn more, read Key #5: Align Financial Wellness Metrics with Business Outcomes PDF opens in a new window.

Read the overview piece, 5 Keys to Implementing a Financial Wellness Program opens in a new window.

Read about each individual key:

You may also be interested in other Financial Wellness opens in a new window topics.

¹ Prudential, “Financial Wellness Census^TM 2020.”
² Prudential, Financial Wellness COVID Research, September 2020.

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Assurance IQ, LLC a wholly-owned subsidiary of Prudential Financial, Inc. matches buyers with products such as life and health insurance and auto insurance, enabling them to make purchases online or through an agent. Neither Prudential Financial, Inc. nor Assurance IQ offers, underwrites, or administers health plans or health insurance policies.

LINK by Prudential is an umbrella marketing name for Prudential Customer Solutions LLC (“PCS”), Prudential Annuities Distributors, Inc. and various subsidiaries of The Prudential Insurance Company of America. Investment advisory products and services of LINK by Prudential are made available through PCS, an SEC registered investment adviser. PCS is not a licensed insurance agency or broker. Prudential LINK and LINK by Prudential occasionally may be referred to as LINK.

Where LINK by Prudential is made available in connection with certain Financial Wellness products, access is made available through Prudential Workplace Solutions Group Services (“PWSGS”). PWSGS provides access to a number of Financial Wellness products, services, seminars and tools offered by PWSGS, its affiliates or third parties. PWSGS is a subsidiary of Prudential PWSGS is not a licensed insurance company, does not provide insurance products or services and does not provide financial, investment or other advice. Individuals should consult appropriate professionals when making financial, investment and tax decisions.

The LINK by Prudential free consultation provides an overview of your financial life and proposes solutions for you to consider. You will not receive a written financial plan and/or investment recommendations as part of the free consultation.

This web page is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional. Prudential Financial, its affiliates, and their financial professionals do not render tax or legal advice. Please consult with your tax and legal advisors regarding your personal circumstances. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary.

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