Is your workforce financially stressed?
Since the 1970’s, our nation shifted the burden of saving for retirement from the employer to the employee. Pensions are now a thing of the past, and employees have taken on the sole responsibility for their financial futures.
Today, we have 80% of the U.S. workforce living paycheck-to-paycheck, with 46% of those employees stressing and thinking about finances at work at least 3 hours per week. Only 17% of them have a comprehensive financial plan, 1 in 4 employees has less than $1,000 in retirement savings and, 43% of student loan borrowers are not making payments.
80% of the American workforce is living paycheck-to-paycheck.
46% of those employees stress about finances at work at least 3 hours per week.
64% of the retiring workforce worry about having enough money to retire.
Why implement financial wellness?
In 2017, we worked with the Center for Financial Security and the University of Wisconsin to identify how workplace financial education affects retirement planning. The study revealed employees with access to an online financial education program gained financial knowledge to display positive financial behaviors, including retirement savings.
Self-reported financial knowledge increased between 5% and 25% in the various topics covered by the program. Participants also reported increased IRA participation and budgeting. Account data showed participants increased retirement account contributions by an average of 40%.
We have provided financial education to more than 2 million users at over 1,000 major U.S. organizations
Financial Fitness Group provides scalable, customized financial education tools to aid with workforce vitality. Our products help people navigate through the complicated language of money to gain freedom from constant financial stress. In a time when corporate culture and wellness is more important than ever, giving your employees the opportunity to gain control over their financial futures will provide the ultimate ROI for your company in employee recruitment, retention and happiness.
Take Action. Help Your Workforce Retire with Confidence
Thousands of organizations have found the more financial knowledge their employees have, the less they spend addressing personal financial issues on the job. Get your workforce retirement ready and financially fit. Contact us today to learn more and see a live demo.