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.