How companies are using tech to boost their employees’ financial wellness and loyalty
Employers are increasingly looking to fintech start-ups and apps that help employees with direct saving, emergency lending and financial literacy.
By Cindy Dash|March 04, 2020 at 10:00 AM
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Financial wellness programs are now offered by 53 percent of firms, which is double the number seen in 2015, according to a Bank of America Merrill Lynch survey. This augurs well for retirement readiness, because there is evidence that workers who are engaged in a financial wellness program increase their retirement contribution rates by 38 percent. Furthermore, employees who feel in charge of their financial wellness report having less stress, according to Questis research, which enables them to be more engaged in the workplace. Simply put, they have a plan and they aren’t constantly waiting for the “other shoe to drop.”
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