By taking a holistic approach, these programs can not only maximise the impact of employers’ investments in their benefits programs, but to help employees meet their short- and long-term financial goals, too.
But despite these advantages, many employers haven’t been able to gain traction in offering these programs.
This is understandable, given that there are so many financial wellness solutions available — and it can be challenging to determine which programs meet employees’ needs, create meaningful improvements, and drive clear business value.
Still, it is a missed opportunity for employers. Financial wellness programs are not only in high demand, but, when delivered effectively, can serve as a differentiator in employee satisfaction, productivity, and loyalty.
At MetLife, we are committed to supporting financial wellness in the workplace. We leverage insight across the business internationally, including 17 years of research on employee benefits in the US.
In the fifth iteration of our Australian Employee Benefit Trends Study, we have uncovered insights that can help employers understand the positive impact financial wellness programs can have and how employers can develop best-in-class programs to meet their employees’ needs.