Employers are in a powerful position to help their people improve their financial wellbeing. What’s more, employees have come to expect it. However, it’s not just employees who stand to benefit from a focus on financial wellbeing. Such an investment results in a positive impact on the company’s financial health as well.
In an era where financial stress is prevalent, Alight’s white paper, Money matters: Improving financial health boosts overall wellbeing, dives into the intricate relationship between financial health and overall employee wellbeing and the role of employers in supporting their peoples’ financial health journey.
To thrive in today's higher cost of living, employees are making sacrifices. However, financial concerns persist, impacting their overall wellbeing. For example1:
- 67% of employees have cut spending, yet 31% have no money left at the end of the month.
- 49% fear their money won't last, with 46% feeling finances control their lives.
- 39% worry they'll never achieve their desired life due to financial constraints.
Financial worries have led employees to drastic measures:
- 44% reduced long-term savings,
- 45% cut short-term goals, and
- 33% took second jobs.
Financial worries dominate employees' thoughts, with 56% identifying it as their top stressor.
Download the whitepaper
It's time for employers to acknowledge the impact on overall wellbeing and take action. Discover how employers can empower their workforce with tools, resources and expert guidance. Download the white paper for more insights.
1 All data referenced in this whitepaper is from 2023 Alight International Workforce and Wellbeing Mindset Study.
