Employee Financial Wellness

(k)larity @ Work™ gives your employees access to financial education, industry-leading technology, and fiduciary-based coaching and advice from CERTIFIED FINANCIAL PLANNER™ Professionals.

While the terms “financial wellness” and “financial well-being” are similar, they mean different things. Financial wellness is more action-oriented and is the positive steps a person can take to lead a healthier financial life. Financial well-being is more of a holistic, emotional state that focuses on contentment, balance, positivity and confidence. Said differently, financial wellness is process-focused (“what you do”) and financial well-being is outcome focused (“how you feel”). Financial wellness influences financial well-being. For instance, if you pay off your credit cards every month you are not likely to worry about short-term debt.

A May 2019 survey of nearly 1,900 workers showed that financially stressed employees are misaligned, disengaged, and unproductive. Here’s some stats about stressed workers:

• 45% Admit to feeling financial stress on a regular basis.
• 33% Less likely to feel like their employer cares about them.
• 56% More likely to believe their employer’s benefits are less competitive than similar organizations.
• 45% Less likely to feel confident they are taking full advantage of company benefits.
• 17x More likely to feel like stress has impacted the quality of their work.