Tag: financial wellness program

Financial Wellness Programs Need to Become Personalized

Financial stress is on the rise in all generations, indicating that financial wellness programs are missing the mark, according to PwC. A new survey report from the firm suggests many employers have simply relabeled existing resources as "financial wellness programs."

Cigna Offers Financial Wellness Program to Group Insurance Clients

The program includes tools such as “money coaching,” where customers can utilize a financial professional for thirty days at no additional cost; identity theft protection and resolution services, and tools and resources for preparing wills and other important legal documents, among other things.

Measuring the Nuances of Financial Wellness Programs

MetLife suggests that sponsors use "value of investment" to measure the intangible outcomes of financial wellness programs, such as employee productivity, engagement and overall job satisfaction, as well as costs associated with absenteeism, disability claims and turnover.

Financial Wellness Programs May Not Be Right for All Companies

Among employers that do not offer a financial wellness program, reasons cited in a survey were: have not thought about it, need more resources to execute, need to focus on other organization priorities, do not perceive any financial benefits, and do not want to get involved in employees’ personal finances.