5 myths about employers' role in financial wellness

In recent years, financial wellness has become a major topic of discussion for employee benefits decision makers. (Photo: Shutterstock)

In recent years, financial wellness has become a major topic of discussion for employee benefits decision makers. As a result, employers are wondering how to address financial wellness in their benefits strategies in a way that’s best for their employees… and their bottom lines. Employers do have the power to positively impact the financial wellness of their employees, but there are some misconceptions that might be preventing employers from viewing this as a priority.

According to a survey of more than 10,000 US employees across 26 industry sectors, 48% of employees are financially stressed. These employees are 8 times more likely to have sleepless nights, 6 times more likely not to finish daily tasks, 4 times more likely to have troubled relationships with work colleagues, and 2 times more likely to be looking for a new job.