4 actions employers can take toward financial wellness

So how can these insights inform the way we approach financial wellness? As today's workplace continues to evolve, there are four actions employers can take to build a strong foundation for a successful and effective financial wellness program, leveraging the power of key life moments to meet employees where, when and how they want to engage:

Help employees save for their retirement. Despite being a distant event for young people, thinking about retirement should begin as soon as an employee can enroll in their employer-sponsored retirement plan. Many employees can benefit from the support of professional account management and investment advisory services, whether digital or through a personal advisor. But the help doesn't end there.
Use targeted communication campaigns and educational resources to proactively reach employees during key personal and professional life events. These moments, which tend to have a financial impact, can include events such as starting a job at a new company, receiving a promotion or equity award, getting married or divorced, buying a house, losing a job due to a corporate event, or evaluating income needs when preparing for retirement.
Support everyday financial questions and needs, including the basic areas of saving, budgeting and debt management. This help would also flex to provide more advanced wealth planning assistance to those looking for guidance on tax strategies, generational planning, wealth protection and preservation, health care, elder care and custom benefits.
Deliver individualized experiences designed to address the distinct needs of diverse employee groups. Employees want content and programs that reflect their diverse perspectives and experience, delivered by companies and financial advisors who reflect and relate to them. We are seeing greater demand in this area as Employee Resource Groups and Diversity, Equity and Inclusion programs continue to be a growing focus for organizations.

At the end of the day, for a financial wellness offering to be effective, it must be comprehensive, personalized and flexible – capable of helping the youngest employee starting out who may only want self-directed education or digital tools, to the more tenured worker who seeks complex counseling or financial planning. By developing and connecting a breadth of services around the moments that matter most in life, employers can help employees transform financial stress into financial confidence.

Instant Insights /

A different approach to financial wellness – engaging employees during moments that matter

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