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Help your employees meet their financial wellness needs

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Your employees are making critical decisions about how to allocate their wages to current needs, savings, benefits, and financial goals.

Without proper knowledge, these decisions can have a negative effect on job performance and impact employees’ financial well-being. By connecting your employees to knowledge that can help them stay on track to reach their long-term goals, they can be less stressed and more productive. And it helps you find and keep the best talent.

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Our Approach Prudential and The Wellness EffectTM

What is financial wellness?

Prudential believes financial wellness is when individuals adopt the behavior that results in:

  • Managing their day-to-day finances
  • Achieving important financial goals
  • Protecting themselves against key financial risks

 

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Employees are financially stressed…

 

~75%

say they are in debt (50%+ think they always will be)1

78%

live paycheck to paycheck1

20%

aren’t saving for retirement, emergencies, or other financial goals2

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Footnotes

  1. 1 CareerBuilder Research, 2017
  2. 2 Bankrate's Financial Security Index, February 23, 2019 - March 3, 2019

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…and that’s bad for business

 

25%

of workers are distracted by financial issues at work1

46%

higher healthcare costs for stressed employees2

64%

say financial challenges affect workers’ ability to focus on work3

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Footnotes

  1. 1 PwC, Employee Financial Wellness Survey, 2018.
  2. 2 Stress in the Workplace: Meeting the Challenge. Health Advocate, https://www.healthadvocate.com/_mobile/downloads/communications-pdfs/b2b/white_paper_stress_in_workplace.pdf.
  3. 3 International Foundation of Employee Benefit Plans. “Financial Education for Today’s Workforce: 2018 Survey Results.”

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Explore our financial wellness program below to learn more about how we can help build the best benefits approach for your employees—and your business.

 

Find out how Prudential’s financial wellness program drives better outcomes for employees and organizations.

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Financial wellness program overview

Prudential offers engagement services that can help your employees act to improve their financial well-being.

Live in-person (or virtual) education

  • Financial education seminars
  • Financial wellness checkups
  • Financial analysis through Financial Wellness 360

Digital resources & on-demand solutions

  • Digital financial wellness
  • Portability and Conversion support for transitioning employees1
  • Student loan assistance by Vault2
  • Credit & Debt Management by GreenPath2
  • Caregiving support by Wellthy2

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Click to read more  

Footnotes

  1. 1 For qualifying Group Insurance customers.
  2. 2 These solutions are available through third-party providers and offer both free and fee-based options for employers.

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Benefits of providing employees access to financial wellness education and tools

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Employees can

  • Discover how benefits fit into their overall financial wellness
  • Learn how to best manage their day-to-day finances
  • Achieve important financial goals and protect themselves against key financial risks
  • Access online financial wellness education and tools including articles, videos, assessments, and projections

Employers can

  • Easily put the program in place with little administrative time
  • Help improve employee satisfaction and productivity
  • Provide education to suit the needs of all employees
  • Inspire employees to improve their financial wellness
  • Reach all employees, regardless of location

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Outcomes that matter

Prudential’s engaging financial wellness seminars, available on-site or virtually, are easy to understand and designed to teach employees how to best manage their financial health. Find out how the seminars: 1

Make financial education a positive employee experience:

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96%

Would recommend to a coworker or friend.2

92%

Said they were satisfied overall.3

92%

Rated the content valuable/relevant.4

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Inspire employees to take action:

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95%

Will rebalance their portfolio.1

98%

Will create a budget.1

97%

Plan to maximize their employee benefits.1

14.3%

Increase their retirement contribution rate 5.2%5

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Prudential’s digital financial wellness tools helped employees, too.

 

50%

More elected or increased their optional life insurance as a result of using the Life Insurance Calculator.6

40%

Took action after engaging with our financial wellness tools.7

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Footnotes

  1. 1 Results based on feedback provided by 71,676 participants from January 2015 through June 2021.
  2. 2 Defined as “promoters” giving ratings of 7–10 out of an 11-point recommend scale.
  3. 3 Positive ratings of “very satisfied” or “extremely satisfied.”
  4. 4 Positive ratings of “very good” or “excellent.”
  5. 5 Prudential Retirement Operational data store. Retirement plan participants increased their contribution rate 5.2% within the same or following month of attending a Pathways seminar.
  6. 6 Prudential Book of Business, 2019.
  7. 7 Prudential Book of Business 2019, Insurance Customer.

 

The student loan assistance services are provided by Student Loan Benefits, Inc., doing business as Vault. The credit counseling and debt management services are provided by GreenPath. Caregiving services are provided by Wellthy, Inc. Vault, GreenPath, and Wellthy are third-party providers that are independent from Prudential and its subsidiaries. They are provided through voluntary, individually selected programs that are not group insurance products and are not part of any employee benefit plan.

Access to Vault student loan assistance services, GreenPath credit counseling and debt management services, and Wellthy caregiving solutions is provided through Prudential Workplace Solutions Group Services, LLC (“PWSGS”).

Prudential Workplace Solutions Group Services, LLC (“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 Financial, Inc. 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.

Access to financial wellness products, services, seminars and tools is not conditioned upon the purchase of insurance or retirement products or services from any Prudential company.

Prudential Pathways® seminars are provided by a Prudential Financial Professional with The Prudential Insurance Company of America and are not intended to market or sell any specific products or services. Offering these seminars do not constitute an endorsement of Prudential products or services in any way.

PruPassages® is available to holders of Group Insurance contracts issued by The Prudential Insurance Company of America (PICA). PruPassages® provides Group Insurance contract holders’ insureds and/or former insureds with the options to continue life insurance coverage that is no longer available under a group contract. Individuals may be contacted, including by licensed financial professionals affiliated with Prudential, to explain available insurance continuation options and answer questions.

 

For Compliance Use Only:1011791-00002-00

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