Financial Literacy Month & Beyond: 4 Ways to Support Employees’ Financial Health

Look around the conference room table. One in three employees can't fully focus on their work because they’re distracted by money worries.  

More than two-thirds of U.S. households are considered financially unhealthy, and the ripple effects show up at work every day – impacting engagement, productivity, and performance. The costs are real. In the U.S., financial stress is responsible for an estimated $183 billion in lost productivity annually. 

Employers are feeling the impact. Nearly half rate their concern about workers' financial well-being at 9 or 10 on a 10-point scale. And the employees in those seats around the conference table? They're looking to the workplace for help. Seven in ten say their employer has a responsibility to help them be financially secure, and a growing share know exactly what kind of support they want, including help building better financial habits, planning for retirement, and advice from a professional on individual financial situations. 

Financial wellness programs for employees do more than alleviate financial stress. They serve as an amplifier of key workforce metrics. Eighty-seven percent of employers offering financial wellness programs report that they use employee satisfaction, productivity, and recruitment and retention metrics to measure their program’s impact.  

4 high-impact ways to support employees’ financial health 

As employers evaluate and refine their financial wellness strategies, four core elements are essential for making a difference for financially stressed employees – and the workforce metrics that matter. 

 1. Build financial literacy and confidence with financial education. 

Diverse workforces have diverse financial needs, from learning about basic budgeting and investment fundamentals to saving for a major purchase or unexpected expenses, managing credit, or navigating student loan debt.  

Easy access to financial education, like resource libraries, webinars, and online planning tools, gives employees a viable way to build their financial literacy. Research shows that financial education through the workplace does more than reduce financial stress. Employees who feel financially well are twice as likely to be satisfied with their jobs and 75% more likely to stay with their employer. 

For employers, the most significant obstacle to providing financial education is a lack of time and resources (40%), but many employers also worry about crossing into advice and creating fiduciary exposure. A good solution is to partner with independent advisors or retirement plan vendors that offer turnkey resources and tools.

 2. Empower smart financial decisions by connecting employees to financial experts. 

Financial education builds knowledge – but knowledge doesn't always translate into action. For many employees, the missing piece is a conversation with someone who can look at their specific situation and help them make sense of it.  

One-on-one access to a financial advisor is one of the most valued benefits an employer can offer. Employees across income levels and life stages benefit from personalized guidance, whether they're trying to get out of debt, save for a first home, or figure out how much they can afford to contribute to their 401(k). A trusted financial professional can help them think through competing priorities, ask the right questions, and develop a plan that actually fits their life. 

The key is making access easy and removing the cost barriers for employees. When workers don't have to worry about what a conversation with a financial advisor will cost them, they're far more likely to take action. 

 3. Build employee benefits awareness, appreciation, and use.  

A competitive benefits package is only as valuable as employees' understanding and use of it. For many workers, benefits remain a somewhat mysterious and underutilized part of their total compensation. Health savings accounts, flexible spending accounts, and accident, critical illness, and disability insurance can play integral roles within overall financial well-being, but often go untapped simply because employees don't fully recognize their value and how to use them. 

A clear, year-round benefits communication strategy changes that. By not limiting communications to annual benefits enrollment, information can be more educational and tied to relevant life events or financial decisions. When employees understand their benefits, they make better choices, feel more financially secure, and appreciate the full value of the options available to them. 

Employers don’t have to develop and manage the communications plan on their own. Benefits consulting and insurance carrier partners often offer proven communications and decision-support tools that can be adapted and personalized to fit specific programs.

 4. Help employees prepare for a financially secure retirement.

Retirement readiness is one of the most significant sources of financial anxiety across the workforce – and one of the areas where employer support has the clearest, most lasting impact. Employees at every career stage have questions: Am I saving enough? When can I afford to retire? How do I turn what I've saved into a reliable income? 

A strong retirement program goes beyond offering a 401(k). It includes ongoing education about contribution strategies, investment options, and the long-term impact of today's decisions. It means helping employees understand how to maximize employer matching contributions. And, as employees approach retirement, it means helping them think through how to generate income from their savings in a way that lasts. 

Retirement plan advisors and benefits consultants play a central role – not just in plan design and compliance, but in the ongoing employee education and engagement that turn a retirement plan into a successful retirement outcome. 

What’s next? 

Together, these four elements can fundamentally change the financial lives of your employees and move the needle on employee engagement, productivity, and retention. 

Financial Literacy Month is a good moment to take stock. Are your employees getting the education, access, and support they need to be financially well — and is your organization doing everything it can to help them get there? 

Download our 2026 Trends Guide to learn more about the services OneDigital provides. 

This article includes input from Alan Cole, Vice President, Retirement Plan Consulting in Atlanta, GA and Karlee Lakin, Client Relationship Manager in Greensboro, NC. Their combined expertise brings practical guidance and real‑world experience to supporting employee financial well‑being.