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3 Reasons Employers Should Focus on Employee Financial Well-being

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When we go through school, and higher education, we are trained to be academically smart. To think, to learn, to specialize. However, a key piece that is missing in our traditional education system is financial well-being. We are not taught about the importance of saving, of investing, of diversifying our assets. Essentially, how to run our personal finances like a business.

If done correctly, we can make our money work for us. When we have financial freedom, it can release a huge amount of fear and anxiety in our lives. According to a report published in April 2021, in which 19,000 American adults were surveyed: “researchers found that financial stress and anxiety are highly linked to low levels of financial literacy, problematic financial behaviors and decreased financial security.” And 60% of those surveyed by the American Psychological Association said that money is a significant source of stress.

And while you might think of financial stress as the preserve of those on a low income, it also affects those on a high income. High income does not necessarily equate to long-term, sustainable wealth. If you do not know how to handle your money, you will always struggle.

Employers must help all their employees to better understand financial well-being. In any company wellness strategy, financial education must........

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