Personal financial challenges like credit card debt, the cost of education, and saving for retirement have a meaningful impact on overall employee performance. This stress can lead to employee absenteeism, lost productivity, and health issues. In fact, according to research from the International Foundation of Employee Benefit Plans, almost half of U.S. workers struggle with navigating their finances, and more than two in five employers report an increased demand for financial education from employees in the past two years.
Despite their popularity, many plan sponsors are still struggling with several obstacles around offering a wellness program, such as lack of time, resources, and budget.
Check out CAPTRUST’s Defined Contribution Practice Leader Scott Matheson along with Director John Leissner and Senior Manager Wes Collins for a discussion on employee financial wellness. They cover the basics, including:
- What exactly is financial wellness?
- What are the main ingredients of an effective financial wellness program?
- How can employee financial wellness be measured?