Over half of HR professionals believe that financial security is one of the primary struggles faced by employees, yet few organizations have implemented financial wellness programs. Further investigation points to the concern that most employees struggle with a range of issues at home and work, including financial insecurity. The most significant struggle for employees is achieving an effective work-life balance (55%), followed closely by earning enough money to pay bills and pay off debt (53%).
The free research report, The State of Employee Financial Wellness, examines the state of employee financial wellness programs and initiatives, and is now available for download. HR.com’s Research Institute conducted the study in partnership with Salary Finance, a company providing financial wellness solutions that help employees move out of debt and into savings at no cost or liability to the employer.
Relatively few (22%) organizations have implemented an employee financial wellness program. And just 14% of human resource (HR) professionals indicate that their organization successfully helps employees attain greater financial wellness to a very high or high extent.
“Organizations will need to open the lines of communication and audit their current benefits programs to see if they are meeting the needs of their workforce,” stated Debbie McGrath, Chief Instigator and CEO of HR.com. “It’s a no-brainer that financial wellness, not just mental and physical wellness, for their employees will translate to business results.”
Download the full report and infographic which include details on eight key takeaways to help HR successfully implement financial wellness programs and initiatives to help employees and increase productivity.
About Salary Finance
Salary Finance is a financial wellness platform focused on solving the root cause of financial stress: a lack of employee savings, caused by high levels of high-interest personal debt. Our mission is to make the lives of millions of working people less stressful, more productive, and much happier. We partner with forward-thinking companies to provide smarter financial wellness products that can help improve employees’ financial wellness, increase their credit scores, and help them move out of debt and into savings. Visit www.salaryfinance.com to learn more.
About HR.com and the HR Research Institute
HR.com’s HR Research Institute helps HR departments keep their finger on the pulse of HR! HR.com is committed to creating inspired and informed workforces by maximizing the potential of HR professionals around the world. Over 1.75 million HR professionals rely on HR.com as the foremost, trusted industry resource for education, career development, and compliance (that many people can’t be wrong!). Offerings include the largest network of HR executives, leading-edge industry research from the HR Research Institute, 13 monthly HR-themed epublications, innovative HR education including 250+ annual webcasts, the most comprehensive HR certification exam preparation program supporting SHRM and HRCI certification, as well as helpful HR tools and legal compliance updates. HR.com has the largest knowledge base of HR practices globally and offers unparalleled training and networking for HR professionals all over the world… 24/7… 365 (just in case you can’t get enough HR). Visit www.hr.com/featuredresearch to download research (always free) and to maximize HR potential. #hrresearchinstitute
For more information, contact:
Chief Instigator and CEO, HR.com