Financial wellness is the state of being in strong financial health so that an individual can successfully manage day-to-day finances, protect against unplanned expenses and financial shocks, and plan and save for future milestones.

According to MetLife's 17th Annual Employee Benefits Trend Study, people are stressed, and anxiety about money is the main culprit across all generations. Employees say that solutions that help address financial stress are what they need most to thrive in the workplace and at home.

Because of growing employee stress around finances, financial wellness has become a business imperative for employers.

Financial support in the form of financial wellness programs, retirement plans, and a broad set of benefits can play a crucial role in helping employees manage the unexpected and plan for the future.

Employees’ financial health can impact their productivity
1 in 3 employees admit to being less productive at work because of financial stress.

               

A majority of employees report they are confident in their finances, however their behaviour tells a different story.
Paycheck to paycheck

49% of workers say they are living paycheck to paycheck.

Retirement plans

30% of employees with a defined contribution retirement plan have dipped into it.

Employers are recognising the growing impact of financial stress in the workplace
Financial stress in the workplace

of employers say that increasing financial stress will have an impact on the workplace in the next five years

Financial education is an important benefits strategy

of employers feel providing financial education to help employees become financially secure is an important benefits strategy

Financial literacy and wellness

of employers name increasing financial literacy and wellness as a top benefits objective

Reducing employee stress

of employers name reducing employee stress as a top benefits objective

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