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Implementing a Financial Wellness Program at Your Company: A Guide


Over half of employees are stressed about their finances.1 As an employee, your career should be a source of financial relief and security—not worry. 

Ensuring that this rings true for your colleagues is important to both their satisfaction and performance. There’s a reason why 53 percent of companies have started to offer financial wellness programs.2 Keep reading for a full breakdown of financial wellness programs, as well as how to implement one at your own workplace.

What Is a Financial Wellness Program? 

The name pretty much sums it up. Financial wellness programs are designed to alleviate the financial worries of employees. They go beyond mere financial understanding; they promote a healthy relationship with money by offering the appropriate tools and guidance. It’s employee-centric education and application combined for better results. 

How to Implement a Program 

There’s no perfect financial wellness program; the best program for you depends on the nature of your business and the needs of the employees. There are many ways you can go about it: do you want to use a platform specially designed for financial wellness programs, or do you want it to be more of a program customized in-house? What do you want the focus to be? What would best benefit the employees? 

Below we’ve gathered our own list of possible steps your company can take to start incorporating financial wellness into the workplace. 

Educational Programs 

Employees need the information first in order to apply it. Here are a few ways you can make financial literacy resources accessible. 

  • Lecture series. Offering a themed lecture series is informational and enjoyable for employees. Many people love to learn, especially when it comes to their money. Search "financial wellness programs" and look for highly rated programs with people well-versed in speaking and organize a series of lectures, webinars or workshops; possible themes include “investing basics” or “creating a budget.”
  • Access to financial professionals. Although you’ll likely offer this resource less often, consider hiring a financial advisor to host on-site or virtual consultations. Anyone can benefit from the guidance of a financial professional, and it’s a win-win for both the advisor and employees. 
  • Distribute educational materials. This is an easy step that any small business can take. You can provide employees with simple resources such as budgeting spreadsheets, helpful articles, or newsletters. 

Action Based Programs 

Going hand-in-hand with educational programs, these suggestions specifically encourage action. All of these initiatives are meant to offer a road-map for employees to apply their newfound financial literacy, if they so choose. 

  • Partnerships with financial institutions. This is similar to but not to be confused with having your advisor offer on-site consultations, due to the fact that it offers a direct path for your employees to work with financial professionals. Creating a partnership will require some funding on your end, but benefit your employees and benefit you by centralizing your financial wellness program. 
  • Financial assistance. These programs directly assist employees with their finances. It’s up to you to determine if this is a viable option for your business, but some businesses offer wellness stipends, discounts, student loan assistance or debt consolidation. 

It’s useful for every business to have some form of a financial wellness program. Being intentional about improving the financial health of employees helps their productivity, performance and happiness overall. Consider if a financial wellness program is right for your company, and use these guidelines to help get it started.

  1. https://www.pwc.com/us/en/industries/private-company-services/library/financial-well-being-retirement-survey.html
  2. https://benefitplans.baml.com/publish/content/application/pdf/GWMOL/WBR-Inforgraphic.pdf

This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.