Workplace Financial Wellness in America: A Year in Review

May 23, 2023

Abstract:

The state of financial wellness of the U.S. workforce fell in 2022 as high inflation and economic uncertainty raised employee financial stress to levels not seen since the Great Recession. The rise in financial stress has contributed to declines in overall wellbeing as self-reported mental and physical health have fallen to their lowest points in two decades. Employees that engaged in their financial coaching benefit made substantial improvements in financial behavior; those that engaged with a live financial coach fared even better than those that engaged exclusively with a virtual financial coach. Working with employee resource groups (ERG) to deploy financial coaching benefits tailored to minority experiences has proven to be effective at increasing employee engagement and improving financial outcomes.

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2021 Financial Wellness Year in Review: A Q&A with Financial Finesse founder and CEO, Liz Davidson

June 20, 2022

Abstract:

This Q&A is designed to provide quotable commentary on Financial Finesse’s 2021 Financial Wellness Year in Review.

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2021 Financial Wellness Year in Review

June 20, 2022

Abstract:

Workplace stress has risen steadily for over a decade, and with the help of a global pandemic has reached a tipping point in 2021. Workers are increasingly expecting more support from their employers, and they are willing to change jobs to get it. To compete for talent, employers must shift their approach to benefit design and corporate culture to accommodate the new workforce. This report examines the divergence in financial wellness priorities that is signaling a shift in the employer-employee relationship and offers guidance for how employers can handle this workplace revolution.

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SOA & Financial Finesse Retirement Literacy Briefs

December 05, 2019

The Society of Actuaries Aging and Retirement Strategic Research Program and Financial Finesse are pleased to make available a series of briefs focused on retirement literacy issues.  The first brief in the series explores retirement from a holistic perspective looking at non-financial issues. The second brief looks at retirement planning and the things to consider throughout one’s career.  The third brief explores the types of expenses that may occur in the first year of retirement. The fourth brief provides a resource for better understanding retirement tools. The briefs were developed by a team led by Greg Ward of Financial Finesse.