Financial wellness an essential employee benefit

A new survey from Charles Schwab sheds light on financial wellness as an employee benefit. For instance, the survey found that 44% of employers believe that to remain competitive, they must offer a financial wellness program.

Other key findings include:

52% of employers said that they have implemented, or are considering implementing, a financial wellness program.
Employers are generally defining financial wellness for employees as “better financial outcomes and a reduction in financial stress because of employees taking ownership of their financial well-being.”

Moreover, the survey found that most employers believe a financial wellness program should include:

Guidance on personal financial management, such as how to plan, save, and manage debt;
An online portal with access to tools and education;
Integration with existing benefit packages; and
An impact on the use of retirement plans.

The report further states that utilization of the education and tools available to employees will be the biggest task. Another 37% of employers also have concern about the cost of implementation of this rising “must have” benefit.

To read the full article, visit: https://www.benefitnews.com/news/financial-wellness-taking-its-place-as-a-must-have-benefit?utm_campaign=ebn%20daily-jun%208%202017&utm_medium=email&utm_source=newsletter&eid=e9337c13cf047096e62ae561cdfb6f2c

StuLo is an affordable solution that is focused on financial wellness, along with student loan debt relief and credit repair services to help employees. StuLo is also easy for employers to implement because it has a voluntary option that requires no cost and no administration. To learn more, visit https://StuLoWellness.com.

Ben Rozum

Founder | Start-up Entrepreneur | Company Culture Creator | Executive Leader

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