How to combat financial stress during inflation and other economic stressors

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Earlier this year, U.S. inflation hit a 40-year high, as prices for everyday expenses soared. Today, 17% of Americans mention the high cost of living and inflation, and 4% mention fuel prices, as the most important problem facing the U.S. What’s more, U.S. employees are now feeling concerned about losing the value of their savings due to inflation and other market forces, underscoring the importance of supporting employee financial wellness during this time. According to MetLife’s 2022 Employee Benefit Trends Study, financial wellness is the aspect of health that employees are most concerned about, when compared to physical, mental and social wellness.

To help alleviate employee financial concerns, employers may want to consider ways to help improve employee financial wellness, especially considering the impact it can have on other areas of an employee’s life. Indeed, MetLife’s study found that 86% of employees that are mentally and financially healthy are productive, compared to just 55% of those who are not.