From creating employee emergency relief funds to new employee benefits, companies are doing all they can to help their people meet their financial obligations during the pandemic.
Today, nearly half of all Americans are living paycheck to paycheck—often having to work multiple jobs to meet their financial commitments. And many of these people are frontline workers who are working tirelessly to ensure businesses and communities keep running during COVID-19.
A 2020 PwC survey found that 58 percent of employees are stressed about their finances, and more than half of these respondents say their finances have been a distraction at work. What’s more, 53 percent of the U.S.-based respondents say they don’t have enough money to cover at least three months of expenses.
So what can employers do to help workers reduce mental stress and achieve greater financial stability? They can go beyond bi-weekly paychecks and provide workers with the tools, resources, and insight they need to better meet their financial obligations. Here’s how.
Offer On-Demand Financial Education in an Accessible Format
Ninety-one percent of Americans say they want to develop better money habits this year. But for many, knowing where to start can be overwhelming. You can help take
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