Employees care that you care, so their financial wellness should be important to you. Here’s why.
- Employees report spending an average of 45 minutes each day dealing with personal finances1.
- The World Health Organization calls financial stress the “health epidemic of the 21st century” and it’s costing employers almost $300 billion a year1.
- About 70% of the population lives paycheck to paycheck, and 65% do not have enough savings to cover a $400 unexpected expense2.
Financial stress is taking a toll, not only on employees, but also on businesses. See the graph below from a 2017 Employee Financial Wellness Survey conducted by PricewaterhouseCoopers.
What financial wellness benefits are you providing to your employees? The patented FlexWage financial wellness solution helps employees solve short term cash needs, while keeping them out of the debt trap. Employers get a more productive employee who appreciate the relief!
- BenefitsPRO, The Truth About Financial Wellness. http://www.benefitspro.com/2017/04/17/the-truth-about-financial-wellness?kw=The+truth+about+financial+wellness&et=editorial&bu=BenefitsPRO&cn=20170418&src=EMC-Email_editorial&pt=Daily&page_all=1
- PricewaterhouseCoopers Employee Financial Wellness Survey (2017). https://www.pwc.com/us/en/private-company-services/publications/assets/pwc-2017-employee-wellness-survey.pdf