Financial Finesse, the country’s leading independent provider of unbiased workplace financial wellness coaching programs, today released Workplace Financial Wellness in America, an annual snapshot of the American workforce through the lens of financial wellness. The flagship study from the Financial Finesse Financial Wellness Think Tank analyzes employee financial stress and resilience levels, reporting on how workers feel about the state of their finances, the toll of financial stress on physical and mental health, and the role of holistic financial wellness programs to address these issues.
“Looking at today’s headlines, it’s no wonder that employees are facing such high levels of financial stress,” said Liz Davidson, Financial Finesse Founder and CEO. “As a society, we cannot ignore the serious consequences of high financial stress—including declining mental and physical health and decreased employee satisfaction and productivity. And with financial security in reach for nearly all American workers, we don’t have to. The good news is, when employees receive ongoing financial coaching, most make dramatic improvements to their finances over a relatively short period of time. This is why financial wellness programs are one of the fastest-growing employee benefits, second only to mental health programs. They truly transform both individuals and organizations.”
Key findings from the annual snapshot include:
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Employees reporting unmanageable financial stress climbed 34%, fueled by workers’ concerns about the U.S. economy and the ability to maintain control over their current financial situation. For example, their greatest source of stress is the U.S. economy and/or stock market and how it will impact their financial future (43%).
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In 2022, Black and Hispanic populations were 38% and 28% less likely to have a positive cash flow than their White counterparts, respectively.
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Single parents report experiencing unmanageable financial stress most…
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