Savings for Business with 50,000 EmployeesFinancial wellness is key to employee health, engagement, retention, and recruitment.
Today, nearly 100 million U.S. workers live paycheck-to-paycheck with less than $500 in liquid savings. Consequently, this financial stress costs American companies $300 billion per year due to decreased productivity, increased absenteeism, accidents, turnover, and rising healthcare premiums for employees succumbing to stress-related illnesses.
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The cost of financial stress on businesses:
- 71% of employees say they suffer from financial stress.
- 53% report that it interferes with their ability to focus and be productive at work.
- 20% miss work to deal with a financial emergency or because of health issues related to financial stress.