Why Should You Offer a Financial Wellness Program?

Written by FinFit on .
Why Should You Offer a Financial Wellness Program?

Implementing a financial wellness program demonstrates that you and your organization care. Financial wellness helps employees recognize that their employers care about them on an individual basis, and this fact alone can provide a more desirable and interactive culture for your organization. 68% of employees feel employers have a responsibility for the health and well-being of their employees. After all, we do spend 30% of our lives working; that equates to 25-30 years! Work is a major contributor to adult life, and many employees spend as much time with co-workers as they do with family and friends (maybe more!). With that kind of commitment, employees want to know that their employer appreciates their effort and contributions.

Let’s look at how financial wellness programs can add value for both employers and employees.

#1: Better financial services and credit alternatives

Financial wellness programs that provide real-world solutions to financial challenges drastically reduce the time employers spend administering employee loan requests and processing 401(k) advances. Nearly 60% of investors ages 18 to 34 say they already have taken money from their retirement account because they didn’t have any other alternative. Many employees experience financial challenges on a regular basis and without reasonable, accessible solutions, they are often forced down paths that lead them further into debt.

#2: Overall employee well-being means less turnover

69% of employees are stressed over their finances. 72% admit to focusing on personal financial challenges at work. Employers that support employees through tough financial challenges see much less turnover. If you provide services and solutions employees know they can count on, they’re more likely to stick with your company. If they find what they’re looking for elsewhere, the amount of time, energy and expense around constantly having to find, recruit, onboard, and train new employees will become that much more painful.

#3: Return on investment for employers

Financial wellness programs are proven to reduce stress and absenteeism which ultimately creates positive ROI for organizations. That 72% of employees focusing on personal finances at work? They cost the average employer $2,000 per employee. Organizations that implement a holistic financial wellness program see a 3:1 return on their investment.

#4: Employee development

Educational tools and resources create behavioral change within each employee, motivating them to improve their knowledge and progress down the path to financial stability. This includes helping employees define their retirement goals and providing recommendations to ensure they’re able to retire comfortably. 82% of employees want their company to offer free financial education courses focusing on retirement planning, emergency savings, budgeting, student loan payoffs, and identity protection.


Employees want to feel valued and appreciated. They also want access to resources that will help them improve their financial situation and overall quality of life. Financial wellness programs have tangible, real-world applications whereby employees will see immediate return on their investment. Ultimately, they’ll have their employer to thank for making the benefit available and allowing them to find greater financial stability.

For more information or to request a demo, contact us today!

© Copyright . All Rights Reserved.

FinFit Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Loans subject to credit approval. Residents of Colorado, Connecticut, Iowa, Vermont, West Virginia, Nevada and Massachusetts are not eligible for loans. Nothing in this advertisement constitutes an offer or solicitation for loan products to residents of those states. Actual time it takes for loan approval dependent upon loan verification set up with your employer.

Funding time dependent upon funding method selected. Expedited funding may incur additional fees.

Student loan services are provided by unaffiliated third parties. FinFit loans issued by Celtic Bank do not include student loans.

Wage Now is fully funded and managed by an affiliate of FinFit. If any fees apply, those fees will be disclosed prior to entering into any agreements.
Residents of California, New York, North Dakota, South Dakota, Tennessee and Vermont are not eligible for WageNow. This does not constitute an offer or solicitation for WageNow to residents of those states.

FinFit’s Financial Wellness Program, which includes educational content, a financial assessment and a financial dashboard, are free to registered members.
Services offered may incur fees and/or interest. All fees will be disclosed prior to entering into any agreements.
Products listed are a representation of FinFit offerings. Actual availability may vary. The products available to you and your organization will appear on your FinFit membership dashboard. Actual loan amounts and rates offered vary based on lender, credit worthiness and other factors.

Privacy Notice (Sp) | FinFit Privacy Policy (Sp) | Licenses | *US Patriot Act | Website Terms & Conditions | Member Rewards Terms & Conditions
SC Consumer Rights & Responsibilities | NM Small Loan Consumer Brochure | NM Loan Rate & Fee Disclosure | Additional Information for NM Residents