Financial Wellness Starts Here

1. What is the estimated company cost associated with poor employee financial health?

2 to 5% of total compensation paid to all employees

5 to 10% of total compensation paid to all employees

10 to 15% of total compensation paid to all employees

15 to 20% of total compensation paid to all employees

Answer:

Poor employee financial health costs companies an estimated 15 to 20% of total compensation.¹

¹www.lfg.com/public/employersorganizations/retirementplans/retirementindustryinsights/financialwellnesssolutions/benefitsofafinancialwellnessprogram

2. What percentage of employees say stress interferes with work?

5% of employees say stress interferes with work

10% of employees say stress interferes with work

21% of employees say stress interferes with work

41% of employees say stress interferes with work

Answer:

41% of employees say stress interferes with work.²

²www.stress.org/42-worrying-workplace-stress-statistics

3. How many days of work are missed per year by employees who are worried about money, compared to unstressed colleagues?

The same amount of days

Almost twice as many days

Answer:

Employees who are worried about money miss almost twice as many days of work per year compared to unstressed colleagues.³

³www.scoremaster.com/blog/view/513/financial-stress-and-employees/

4. What percentage of employers believe financial wellness tools improve productivity?

15% of employers

45% of employers

83% of employers

Answer:

83% of employers believe financial wellness tools improve productivity.⁴

⁴https://newsroom.bankofamerica.com/content/newsroom/press-releases/2020/09/bank-of-america-study-finds-employers--sense-of-responsibility-f.html

5. How many dollars a year do U.S. companies lose due to their employees’ personal financial stress?

$100 million

$100 billion

$500 billion

Answer:

U.S. companies lose $500 billion a year due to their employees’ personal financial stress.⁵

⁵www.scoremaster.com/blog/view/513/financial-stress-and-employees

Employees who believe their employer cares about them in all aspects of their lives (health, emotional, financial well-being) will be more loyal, satisfied and committed to their jobs — results that translate into a positive business impact for employers.

https://corporatefinanceinstitute.com/resources/knowledge/other/employee-wellness-programs

Did you know the financial well-being of employees affects a company's performance?

1. What is the estimated company cost associated with poor employee financial health?

Answer:

2. What percentage of employees say stress interferes with work?

Answer:

3. How many days of work are missed per year by employees who are worried about money, compared to unstressed colleagues?

Answer:

4. What percentage of employers believe financial wellness tools improve productivity?

Answer:

5. How many dollars a year do U.S. companies lose due to their employees’ personal financial stress?

Answer:

Employees who believe their employer cares about them in all aspects of their lives (health, emotional, financial well-being) will be more loyal, satisfied and committed to their jobs — results that translate into a positive business impact for employers.

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