In the current hyper competitive labor market, employers are racing to provide better menus of benefit offerings to attract and retain talent. Many have turned to benefits that help employees navigate financial challenges through financial point solutions such as buy-now-pay-later shopping programs, small dollar employer loans, and ever-popular earned wage access programs.

The unfortunate truth is that many of these point solutions cause more problems than they intend to solve.

If employers continue to offer these financial benefits, they must also equip workers with the knowledge on how to best use them, combined with foundational financial wellness guidance. It's this holistic package that has been proven to help Americans improve their financial situation and weather unforeseen financial challenges, both acute and long-term.