A 2022 John Hancock study on employee stress found that 89% of workers think it’s important that employers provide a workplace financial wellness program. Another 74% noted that it would help reduce their stress. [i]
According to the article “Fiduciary Fitness Related to Financial Wellness” in Plansponsor.com, providing a financial wellness benefit may help your organization lower plan costs and help prevent potential liability or legal claims against your plan. [ii]
Usually, it comes down to cost. According to the Employee Benefit Research Institute, these programs are often priced at a per-employee-per-year (PEPY) rate and commonly range from $50 per employee per year to more than $500. [i] Then, there’s often a minimum for small employers as well.
That can mean tens of thousands of dollars a year for many organizations. That’s not always easy to find in your budget.
With Wavelength, we’re financial marketers with a deep understanding of how to engage people who otherwise don’t think of themselves as “financial people.” More importantly, we rely on actual user feedback to keep our content interesting and approachable.
With Wavelength Money, you get email and online financial wellness education for your entire organization for one affordable monthly fee:
Bottom line: by cutting out expensive custom-delivery platforms, we can save you money and avoid the privacy concerns common with many platforms.
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Want more? Custom options are available to complement this core education.
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[1] https://retirement.johnhancock.com/us/en/financial-stress-survey
[2] https://www.plansponsor.com/fiduciary-fitness-related-to-financial-wellness/
[3] https://www.ebri.org/docs/default-source/ebri-issue-brief/ebri_ib_466_fwrcsur-29nov18.pdf?sfvrsn=bdb23e2f_6
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