2. Build a business case for financial wellness benefits

We've already acknowledged that it can feel uncomfortable to address employees' finances if it's not something you've done in the past. But the value to the employee – and the organization – is clear. As you build the business case for implementing a financial wellness program, it's crucial that you tie the potential positive impacts to other strategic priorities. To make sure you're building a compelling business case, you'll want to include the following:

The quantitative and qualitative data you've collected about your employees' financial stress and most urgent needs
The impact on your bottom line. You can do that with third-party data, or your own data such as 401(k) loans, sick days, employee satisfaction and turnover, etc.
An outline of how financial wellness benefits can enhance existing HR initiatives is key – to demonstrate that a financial wellness program will be a strong complement to programs that are already in place.
Associated costs that demonstrate that a financial wellness program doesn't need to be expensive to be effective. There are many benefits that you can offer, at least to start, that cost your organization little to nothing to implement.

COVID-19 has fundamentally changed the way we do business and employee experience has never been more important in providing great customer experience. As your business stands on the precipice of enormous change, now is the time to take a lead and return financial empowerment back to your employees.

Instant Insights /

Measuring your firm's financial fitness

More From HR Executive

Related Stories

Recommended For You