Worries about personal finances are on the rise. A recent bankrate.com survey found only 41% of adults would pay for an unexpected cost from savings, a 4% increase from last year.
Additionally, a MetLife study found 69% of employers said financial stress contributes to health costs at their company. Employees feeling financial stress are more likely to call in sick.
These statistics create a growing emphasis on having a financial wellness program. For employers that don’t have one, now is the time to implement one. When employees have financial stress, it leads to productivity drop offs, absenteeism, and higher medical costs.
One way to help employees improve their financial wellness is to offer workshops on financial concepts such as budgeting and planning for emergencies and tackling debt. The Personal Finance Playbook workshops deliver amazing results. 100% of participants have said: they would recommend to a friend or co-worker; they would implement at least 1 idea from the workshop; and were inspired to take action.