According to a 2017 survey by PwC, 53% of U.S. employees found it stressful to deal with their personal finances. Employers can help employees reduce the stress of financial management through workplace financial wellness programs.
Financial wellness programs are increasingly being offered as a benefit to employees as a way of helping boost their economic security. These programs vary between employers, but are all aimed at increasing financial literacy, promoting savings, and managing debt or financial emergencies. Examples of services provided include financial coaching and counseling, debt management services, savings products and services, short-term loans and accrued wage advances, online financial management tools, and financial education classes
Prosperity Now and and the Center for Social Development at Washington University in St. Louis worked together to create a series of tools and background resources about these programs. These tools include resources for employers to better understand financial wellness programs, as well as a directory of existing programs.