This shift in the financial concerns of employees represents a historic opportunity for employers to strengthen your organizations by deploying financial wellness benefits that reduce the everyday financial stress of your workers, like personal financial coaching for employees.
Personal financial coaching can ease employee financial stress, which improves employee productivity, in ways that financial literacy workshops and employee financial education alone cannot: “One-size-fits-all financial education has little to no effect on changing real-world financial behaviors.”
The financial wellness benefits paradigm shift from future retirement to easing stress paycheck to paycheck also coincides with new provisions in Secure 2.0 which kick-in “after December 31, 2023,” to help employees save for emergencies and retirement and to payoff student loans.