In a 2017 employee financial wellness survey from PwC, an audit and consulting company, 53% of employees are stressed about their finances. which may also cause certain health issues alongside it. Businesses are starting to tackle this in their financial wellness programs with debt management and budgeting tools, and stronger educational resources. Companies such as Chegg and Fidelity, for example, have established protocols to help employees with their student loans.
Other top companies may offer different personalized services to better educate their employees, whether in person, online, on the phone, or self-service. Establishing a line of career progression and breaking it down to a 3-10 year plan can also help employees better understand their long-term success in the company. Financial coaching sessions on saving, investing, and retirement planning further assist employees and encourage them to take action on their finances. Companies must be fully committed to their programs and continually promote and improve such tactics in order to remain in business.