Financial Wellness Programs On The Rise

In addition to perks like a flexible paid time off policies and work from home options financial wellness programs are swiftly on the rise.

Financial wellness programs on the rise.

A health and well being survey from investments and the national business group on health found that 84 percent of companies now. Employers had several motivations for offering financial wellness programs massmutual found. The percentage of employers offering financial wellness programs rose to 83 up from 20 two years earlier according to prudential s 10th benefits and beyond. The programs are rising but so are the range of topics being addressed through them as such as.

Most companies encourage employees to invest in themselves and plan for retirement but until recently few were providing assistance to guide employees through the process. Financial wellness programs on the rise. Saving for retirement 81 planning for healthcare costs 71 budgeting 63 saving for college 55 managing debt 54. Wellness programming has always focused on physical and mental well being but another aspect of wellness continues to grow.

The enrich financial wellness program provides certified personal financial counselors cpfc s with a state of the art online platform to provide a best in class financial wellness experience second to none. The offering of financial wellness programs has mushroomed in recent years. We provide our users with an online experience filled with on demand courses with personalized action plans behavioral assessments. Here s a short guide to understanding financial wellness programs.

Overall 86 of employers characterized financial wellness programs as important with 72 of smaller employers fewer than 25 workers and 94 of larger firms 1 000 or more workers agreeing with the majority of respondents. Financial wellness programs on the rise. Nothing will replace the gold watch the monthly pension checks and fully funded retiree medical. Posted by matthew on 04 26 2017.

More than half of employers offer them today compared to 24 in 205 according to a bank of america survey. Workplace financial wellness programs on the rise. Financial wellness that s the finding of an employee benefit news report based on recently released research by fidelity investments and the national business group on health. The number of financial wellness programs offered by employers is skyrocketing as workers clamor for help in increasing financial literacy and improving their financial wellness.

The number of employers offering financial wellness programs through the workplace is expected to nearly double over the next several years.