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Employee well-being is top of mind for companies and HR leaders across the globe. Healthy employees―physically, mentally and financially―are more productive and engaged at work, boosting an employer’s business success. Most HR leaders understand the importance and impact of an employee’s physical and mental well-being on the workplace, especially since the Covid-19 pandemic. In addition to physical and mental well-being, there is financial well-being. Most employers offer the basics, such as a 401(k) plan, but leading employers are increasingly offering holistic financial wellness benefits. New data puts a spotlight on the dramatic impact of employee financial well-being on their employers.

Our 2021 Wellness Barometer Survey found that 65% of employees are stressed about their finances due to the pandemic, costing employers across the country a total of $4.7 billion per week in lost productivity (assuming 94,257,000 knowledge workers in the U.S. with an hourly wage of $35.53; source: Federal Reserve Economic Dataset.) 

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