Business leaders are starting to pay more attention to the concept of financial wellness, and with good reason. The research shows that a shocking number of employees — even high-earning ones — are stressed about their personal finances. And that’s bad for business. But nudging profits up and to the right isn’t the only point of financial wellness programs. Employers care about helping employees make real progress in their lives, too. So if you’re looking to help your employees with financial wellness, there are two big questions: How do you decide which solution to offer? And how can you tell if what you offer ends up making a difference?
The key is finding out where employees need help, so you can make an informed decision on which solution to provide. Then, the impact of that solution needs to be measured over time, to see if it’s leading to positive outcomes for employees.
The ideal way to do this is with a scientifically formulated set of questions that adhere to an innovative framework for financial health, and a methodology for scoring and interpreting the results. However, most companies don’t have this. That’s why we’re excited to launch the Employer’s Toolkit for Measuring Financial Health, in partnership with the Financial Health Network.
The toolkit is a simple resource that will provide you with a snapshot of your employees’ financial lives from an unbiased, scientific perspective. It contains a survey for you to administer to employees, as well as the methodology for scoring and interpreting the results. The information you get from the toolkit will provide the insights you need to decide which financial wellness solution will have the greatest impact on your employees’ wellbeing — and your business’ bottom line.
The toolkit contains:
The Financial Health Network is the leading authority on financial health. They are a trusted resource for business leaders, policymakers, and innovators united in a mission to improve the financial health of their customers, employees, and communities. Through research, advisory services, measurement tools, and opportunities for cross-sector collaboration, the Financial Health Network advances awareness, understanding, and proven best practices in support of improved financial health for all.
To get started, download your free copy of Employer’s Toolkit for Measuring Financial Health.
To learn more about the impact financial stress has on your employees, download our e-book: A Guide to Financial Wellness: The Employer’s Handbook for Understanding On-Demand Pay and Financial Wellness Benefits.