The 2021 Financial Wellness Benefits Study

Offered by: SmartDollar
Get your free copy
The 2021 Financial Wellness Benefits Study found that adding financial wellness to employee benefits packages reduces stress, boosts morale and productivity, and helps attract and retain top talent.

More than 1,000 employee benefits decision-makers at companies of all sizes across the United States participated in the research survey. The study highlights the value and importance of employers offering a financial wellness benefit in their employee benefits packages.

Key survey findings include:

- Financial wellness is the number one benefit employers are looking to add in the next 1–2 years.

- Of those who currently offer a financial wellness benefit, 90% say it is one of the most impactful benefits to their employees.

- 88% of those who offer financial wellness say their employees report less stress.

- 48% say COVID-19 increased priority for financial wellness.

- 48% of those surveyed said that financial stress has a significant impact on their employees.

- 77% of company benefits decision-makers say their employees are delaying retirement because of their financial situation.

This study will help employers understand the benefits landscape, the financial wellness market, the barriers to and impact of financial wellness, and the perceived financial health of employees across the United States.

“We knew, even before the pandemic, that 78% of workers were living paycheck to paycheck,” said Brian Hamilton, Senior Vice President of SmartDollar. “Those money problems follow people to work, leading to more problems. The survey results show just how uniquely positioned employers are to help. If done correctly, there is no doubt financial wellness is good for employees and great for the bottom line.”

HR Daily Newsletter

News, trends and analysis, as well as breaking news alerts, to help HR professionals do their jobs better each business day.