Bridging the Financial Wellness Gap: How Strategic Programs Drive Engagement, Retention, and Organizational Success
This report, leveraging research conducted by SHRM Thought Leadership in partnership with Raymond James, analyzes the current state of financial wellness, identifying the disconnect between the pressures that workers face and the support structures that organizations currently provide. It highlights the urgent need for strategic, integrated programs that address immediate financial realities. By leveraging these insights, organizational leaders can help bridge the gap between workers’ needs and employers’ offerings, driving engagement, retention, and productivity in a challenging talent landscape. These findings apply across HR, finance, and the C suite, reinforcing the role of employee loyalty and development in driving core business levers.
Inside The State of Financial Wellness: Challenges, Gaps & Opportunities Report
Data from over 1,000 HR professionals and over 2,300 U.S. workers, representing organizations across multiple types of industries, sectors, sizes, and locations.
What the Data Reveals
| 1: Financial stress is a persistent barrier to workforce engagement | 2: Program maturity lags behind the need for support |
| 3: A significant misalignment exists between offerings and workers’ needs | 4: Financial wellness drives stronger worker and organizational outcomes |
Financial wellness functions as organizational infrastructure, supporting worker stability, trust, and engagement during periods of uncertainty. Workers with highly developed financial wellness were more likely to report strong engagement, job satisfaction, and organizational commitment than those with underdeveloped financial wellness, and the association was consistent across different income levels. At the organizational level, the benefits of strong financial wellness programs are equally clear. Organizations with highly developed programs were substantially more likely to exceed both financial and nonfinancial objectives and far less likely to report high turnover. Additionally, organizations with underdeveloped programs were more than twice as likely to report high levels of worker turnover.
This report was produced in collaboration with Raymond James. To learn more about Raymond James and its partnership with SHRM, visit raymondjames.com/shrm. SHRM is a current client of Raymond James. SHRM receives cash compensation from Raymond James in exchange for priority placement and brand promotion at conferences, shared authorship of marketing materials, and the contact information of attendees at SHRM conferences. SHRM’s receipt of cash compensation creates an incentive for SHRM to market investment advisory services of Raymond James. Raymond James is not affiliated with SHRM. SHRM does not offer investment advisory services.
Visit raymondjames.com/shrm for important information about Raymond James (RJA WRAP FEE PROGRAM BROCHURE, RJFSA WRAP FEE PROGRAM BROCHURE, IFS FORM ADV 2A) and how SHRM works with Raymond James (PROMOTER’S DISCLOSURE).
Securities offered through Raymond James & Associates, Inc., member NYSE/SIPC, or Raymond James Financial Services, Inc., member FINRA/SIPC, each a broker-dealer registered with the Securities and Exchange Commission (SEC). Investment advisory services offered through Raymond James & Associates, Inc. or Raymond James Financial Services Advisors, Inc., each an investment adviser registered with the SEC.
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