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It’s a topic you’ll rarely hear mentioned around the water cooler, yet it likely impacts every single employee: financial stress.
Recent studies confirm that finances, or the lack thereof, are the leading source of stress for the average worker at all income levels. The Bank of America Institute recently took their annual deep dive into the topic in the 2025 Workplace Benefits Report, revealing less than 50% of employees currently feel a sense of financial safety.
How does this impact the bottom line?
- Productivity declines — as the studies show, half of employees report spending three or more working hours per week, or 156 working hours yearly, dealing with concerns related to their personal finances.
- Culture suffers — also confirmed in the reports, these troubled employees are twice as likely to be searching for a new job, and nine times more likely to have problematic relationships with their colleagues.
How Can Employers Help Reduce Employee Financial Stress?
With most employees carrying personal debt, and nearly 60% of employees filling the role of family caregiver, it’s imperative that employers step in to help. And don’t overlook the large Baby Boomer generation, they’re approaching retirement age.
Check out a few of our recommendations for how you can help.
- Consider implementing a credit counseling, debt assistance, or money management program. Less than one-third of employers offer this perk, while more than half of employees claim they’re more likely to stay with an employer who offers such a benefit.
- Look at offering a flexible work schedule through hybrid or remote work options and schedule flexibility as needs arise. Studies show that offering a flexible work schedule is the second-highest generator of interest from desirable applicants, and work-life balance is a top factor leading to employee longevity.
- Expanding your retirement planning to include the tools employees want most. These include assistance with estimating expenses in retirement, guidance on creating other income streams, and future planning for Medicare and health care expenses.
Spread Your Message of Support and Watch Engagement Add Up.
Once you’ve determined the best support measures for your team, launch a communications plan to ensure employees are aware of these benefits. (We know some folks who can help!)
Many workplace perks are unknown by staff with as little as 13% of employees being aware of the wellness benefits available to them. Don’t misinterpret a lack of awareness as a lack of interest. Ensure your employees are aware of the benefits and perks available to them throughout the year and in each season of life.
Not sure where to begin with your communications? You can check out our tried-and-true process for communications planning. And, review our other Health & Wellness Program tips.
Financial stress may feel like a taboo topic to tackle in the workplace. But, as the studies have shown, wellness programs that address this stressor support not only staff, but also your bottom line.
Nurturing the financial wellness of employees, and keeping them in the know about wellness opportunities, makes companies more attractive in the job market, promotes job satisfaction, and increases employee retention. And, as your HR communications experts, those are some juicy stats we’d love to gossip about around the water cooler.
