Helping Employees with Financial Insecurity
May 21, 2020
All of us are experiencing the pain and uncertainty of the COVID-19 pandemic. These uncertain times are also creating new employee concerns about their financial status, including 401(k)s becoming 301(k)s, job insecurity or unemployment, pay cuts, or the need to postpone retirement. Prior to the spread of the virus, a sizable number of Americans were already living paycheck to paycheck, and personal finances were the major cause of workplace stress. Financial insecurity has significantly increased in the COVID-19 pandemic, and we recommend employers design and implement a financial wellness program to become a cornerstone of your employee benefit program. Here's how to identify what employees need and design a program for financial wellness.
