How to Think About Financial Wellness ROI
If you want to sell your C-suite on paying for an employee financial wellness program, you’ll probably hear this question from your CFO: What’s the ROI?
It’s natural for a chief financial officer to ask about the return on investment (ROI) from spending the organization’s money on a program that, at first glance, appears to only help employees with their lives outside work. But research finds a direct connection between employees feeling financially stressed and a decline in work productivity, an increase in health problems, and a rise in job absenteeism—plus, a shortfall in retirement savings.
According to a study by PwC, 53% of full-time employed American adults say they’ve felt stressed dealing with their personal financial situation over the past five years.[1] The same study finds that among financially worried Americans:
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22% acknowledge that it affects their productivity at work
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28% say it impacts their health
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12% reveal that they miss work occasionally due to financial stress.
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62% say they’ll postpone retirement because they haven’t saved enough.[1]