How Financial Wellness Improves Employee Engagement

When your employees are concerned about their financial wellness your employee engagement may suffer.

Imagine living paycheck to paycheck and scrambling to figure out which expenses you can cover now and which will have to wait.

Payday is slightly out of sync with your bills. 

Suddenly, your financial burdens consume your thoughts. 

Financial stress can reduce employee productivity

If your employees are dealing with excessive financial stressors, they may have a harder time focusing at work.

According to Morgan Stanley, financial stress can inhibit job performance. Seventy-one percent of employees reported that money-related stress negatively affects their work and personal lives. Additionally, 84% of HR leaders are worried about the impact of employees’ financial issues on productivity.¹

How companies can support employee financial wellness

Although employers can’t completely remove stress from their employees’ lives, they can help ease financial stress and improve their employees’ financial wellness.

Employers can offer financial wellness benefits encouraging employees to keep track of earnings and expenses, pay bills on time, save easily, budget for the future, gain financial knowledge and more.  

Financial wellness benefits packages often include On-Demand Pay. When employees have greater access to their pay, they’re better equipped to avoid negative financial situations. 

Learn more about how to improve employee financial wellness. 

Improve financial wellness with DailyPay 

DailyPay offers employers a way to give their employees access to their earned pay daily without disrupting the payroll process. Employees can see how much money they have earned and access their pay on their schedule. 

Ready to learn how DailyPay can help your company improve employee financial wellness on the daily? Book a demo today.