We talk a lot about mental and physical health at work—but financial stress is just as real.
It affects how employees sleep, how they focus, and even how long they stay at a company. That’s why forward-thinking organizations are rethinking their approach to wellbeing—and including financial wellness as a core pillar of their workplace strategy.
Let’s take a closer look at why this matters, how financial health impacts performance, and what you can do to support your people.
The Overlooked Strain: How Financial Stress Affects Work
Most employees don’t leave their money worries at the door when they show up for work. Instead, those worries follow them throughout the day—undermining their ability to focus and perform.
In fact, a recent PwC survey found that 57% of employees say finances are the top cause of stress in their lives. And it’s not just about day-to-day spending. Many are worried about student loans, debt, inflation, childcare costs, and whether they’re on track for retirement.
Over time, this stress can lead to:
- Trouble concentrating on tasks
- Higher absenteeism and unplanned time off
- A greater likelihood of seeking second jobs
- Health issues linked to chronic stress
- Increased risk of employee turnover
In short, financial stress is a silent productivity killer—and it’s costing organizations more than they realize.
What Financial Wellness Really Means
So, what does financial wellness actually look like? At its core, it’s the ability to:
- Confidently manage daily and monthly expenses
- Handle unexpected financial emergencies
- Save and plan for long-term goals like retirement, education, or homeownership
- Access tools and resources that promote financial literacy and empowerment
When employees feel financially secure, they show up with less anxiety and more energy. They can focus on work, collaborate more effectively, and engage with long-term goals. On the other hand, when that sense of stability is missing—even the best workplace culture can feel overwhelming.
Why Financial Wellness Should Be Part of Your Strategy
Integrating financial wellness into your workplace isn’t just an act of goodwill—it’s a strategic investment. Here’s why it matters now more than ever:
1. It boosts productivity
First, financially secure employees are more present. They’re not distracted by money-related stressors, which means they’re more focused, more efficient, and better equipped to make thoughtful decisions.
2. It improves retention
Next, offering financial wellness benefits signals that you care about your employees’ lives beyond the office. That message builds trust and loyalty, which can reduce turnover—especially during tough economic cycles.
3. It enhances recruitment
In a competitive hiring market, benefits matter. Millennials and Gen Z are especially drawn to companies that offer student loan assistance, budgeting education, or savings tools. Financial wellness support can give your company a much-needed edge.
4. It reduces health-related costs
Finally, it’s worth noting the strong connection between financial stress and physical health. Chronic financial anxiety is linked to depression, insomnia, and even cardiovascular disease. Proactively addressing it can lower your healthcare claims and support a healthier, more resilient workforce.
How to Build a Financial Wellness Program That Makes a Difference
You don’t need a massive benefits overhaul to start making progress. In fact, some of the most impactful programs begin with small, intentional steps. Here’s how to get started:
Offer workshops and webinars
To begin, bring in financial experts to cover topics like budgeting, credit health, investing, or retirement planning. These sessions give employees tools they can use right away—and show them they’re not alone.
Provide budgeting and savings tools
Next, make sure employees have access to the tools they need to take action. Whether it’s a budgeting app, a savings calculator, or a financial goal tracker, small nudges can lead to big behavior changes.
Add financial support to your EAP
If you already offer an Employee Assistance Program, consider expanding it to include financial counseling. One-on-one sessions with an expert can help employees navigate debt, plan for emergencies, and reduce their money-related stress.
Help employees plan for the long term
Beyond immediate needs, long-term planning matters too. Make it easy for employees to learn about 401(k)s, IRAs, and other retirement savings options—and consider employer matching if it fits your budget.
Consider flexible wage options
Another idea is earned wage access. This growing benefit allows employees to tap into their earned wages before payday, helping them avoid payday loans or credit card debt when unexpected expenses arise.
Normalize financial conversations
Lastly, it’s important to make financial wellness part of your everyday culture. That means weaving it into newsletters, wellness challenges, manager check-ins, and internal communications—not just one-off events.
Where Financial Wellness Fits in a Broader Strategy
Financial wellbeing doesn’t live in a silo. It’s deeply connected to mental, emotional, and physical health. And when all of these dimensions are supported together, employees are more likely to thrive.
That’s why Woliba takes a holistic approach. Our platform helps companies support the full picture of employee wellbeing, including:
- Educational content and courses across all life stages
- Monthly wellness themes—including financial literacy
- Challenges that promote real-life financial habits like saving or tracking spending
- Assessments that help employees identify and address their biggest stressors
- Points-based rewards systems that can be tied to financial learning or achievements
When financial wellness is integrated into your overall strategy—not just offered as an add-on—it builds long-term value for both your people and your business.
The Bottom Line: Normalize Financial Support Before It’s Needed
The reality is, most employees won’t speak up when financial stress is weighing them down. That’s why it’s so important to offer resources proactively—and to embed financial wellness into the fabric of your culture.
When you do, you’re not just helping employees with their wallets. You’re showing them you care about their future.
Woliba makes it easy to turn that intention into action. From educational content and habit-building challenges to monthly wellness themes and built-in recognition tools, our platform helps you create a financial wellness program that truly supports your team—and drives results for your organization.
If you’re ready to integrate financial wellbeing into your workplace strategy, we’re here to help you lead the way.
