Over half of HR professionals believe that financial security is one of the primary struggles faced by employees, yet few organizations have implemented financial wellness programs. Further investigation points to the concern that most employees struggle with a range of issues at home and work, including financial insecurity. The most significant struggle for employees is achieving an effective work-life balance (55%), followed closely by earning enough money to pay bills and pay off debt (53%).
The free research report, The State of Employee Financial Wellness, examines the state of employee financial wellness programs and initiatives, and is now available for download. HR.com’s Research Institute conducted the study in partnership with Salary Finance, a company providing financial wellness solutions that help employees move out of debt and into savings at no cost or liability to the employer.
Relatively few (22%) organizations have implemented an employee financial wellness program. And just 14% of human resource (HR) professionals indicate that their organization successfully helps employees attain greater financial wellness to a very high or high extent.
“Organizations will need to open the lines of communication and audit their current benefits programs to see if they are meeting the needs of their workforce,” stated
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