Workers across the country at all income levels are struggling with their finances – and increasingly looking to their employers for solutions. The Financial Health Network helps employers make informed decisions about the most effective financial health solutions for their teams. Like you, we care most about what works.
78% of employees with high financial stress say it impacts them at work.
Fewer than 1/3 of workers have access to benefits that help them with critical financial needs.
42% of employees do not feel adequately informed about the benefits and programs their employers offer.
When offered digital financial wellness tools, which workers use them most? Explore how various employee groups engaged with a mobile app rolled out by University Federal Credit Union in Austin, Texas.
Earned Wage Access — also known as earned wage advance or on-demand pay — has steadily grown. As recently as 2020, nearly 55.8 million individuals were using some EWA solutions, as there are both employer provided and direct to consumer options. As EWA solutions have grown in popularity, there has been a steady stream of questions as some employers remain skeptical about the utility and benefit of EWA products. While there are certainly questions that need further investigation, it does appear that EWA solutions are here to stay.
In the continuing war for talent in the American workplace, employers have been adding more perks to attract and retain employees. That includes paying more attention to the financial well-being of their workers.
Data-driven understanding of employees’ needs can inform design and delivery of benefits programs that increase equity in employee financial health.
Employers, benefits platforms, regulators, and employees are paying more attention to earned wage access (EWA) products for their potential to improve employee financial health. Employers can maximize the positive outcomes of EWA products by minimizing associated fees, explaining the program mechanics to employees, and providing a complementary suite of financial resources.
Matt Bahl has been involved in the field of human resources (HR) for nearly a decade. For our latest Faces of HR profile, we sat down with Matt to discuss how he got his start in the industry, his biggest influences, as well as his “best mistake” and what he learned from it.
Build better employee financial health strategies with this comprehensive toolkit for HR professionals. This online toolkit offers a step-by-step guide for measuring and improving employee financial health by helping employers diagnose needs, identify solutions, design for engagement, and measure impact.
Gain a deeper understanding of the evolving financial health needs of American workers, with free access to research and insights based on transactional data, surveys, and other proprietary metrics.
See how financial innovators and visionaries are developing, testing, and scaling new solutions to help employers reduce inequities and improve financial well-being across their workforces.
Collaborate with our researchers, behavioral science experts, and advisors to build data-driven financial health strategies that make sense for your business and your employees.
Find upcoming events for employers, HR leaders, benefits providers, and other change-makers solving financial health challenges for workers and workplaces.
