Engaging Your Workforce for Financial Wellness

The financial pressures facing today's workforce continue to evolve. Rising costs of living, persistent inflation, and mounting household debt have created an environment of financial stress that many employees are navigating quietly, and often alone.  

According to PwC's 2026 Employee Financial Wellness Survey, 59% of employees say they are stressed about their finances right now.¹ For employers, there's a meaningful opportunity to make a real difference. 

Today's employees are managing more financial pressure than ever. From mounting debt to retirement savings gaps, the impact doesn't stop at their bank account. Financial stress can affect their health, their focus, and ultimately, their performance at work. 

Education vs. Engagement

Financial education for employees has likely been a component of your retirement plan offering in the form of annual group meetings or one-on-one meetings with financial advisors. These meetings, while essential to make sure that employees remember the importance of saving for the future and aligning their investment risk, do little to change financial behaviors that are impacting their overall financial wellness.

Authentic employee engagement is the most impactful. Addressing more than plan highlights (the match, the investment vehicles, vesting schedules, etc.) and spending time with the employee to help them make their next best move is a worthy investment. Does your employee hear you tell them about all the outstanding features of the corporate retirement plan, while they are drowning in student or credit card debt, having trouble paying bills, or dealing with any other financial stress? The answer is No. By focusing on where and how to take the first step, you engage the employees at a level not yet seen.

So, let’s talk about engagement and the financial wellness strategy.

What is Financial Wellness?

A state in which an individual:

• Has control over day-to-day, month-to-month finances
• Has the capacity to absorb a financial shock
• Is on track to meet financial goals
• Has the financial freedom to make the choices that allow one to enjoy life

Understanding what financial wellness is and isn’t is the first step, but the data tells us most employees aren’t there yet. 

Financial stress continues to weigh heavily on employees, many of whom are also carrying concerns about job security and the overall health of their organization. Today's economic climate has only deepened that pressure, adding layers of uncertainty that self-service tools alone cannot address.  

More than ever, employees want proactive communication and trusted guidance from a financial professional who can answer questions, provide reassurance, and help them take confident next steps. Simply providing access to digital resources falls short of what employees truly need and want from their employer. Here’s what that data is telling us. 

• The number of employees actively seeking financial guidance and support from their employer has doubled in just two years, a clear reflection of how much workers value access to trusted, unbiased financial counsel.²
• Seventy-three percent of financially stressed employees say they would be attracted to another employer that cares more about their financial wellbeing compared to just 54% of non-financially stressed employees.¹
• Nearly half of your workforce cites building an emergency fund as their number one financial goal.³ The good news? Progress is being made. Almost 60% of employees report hitting their emergency savings target in 2026, up 10 points from the previous year, a sign that the right support can move the needle.³

^{What a Meaningful Financial Wellness Program Looks Like}

According to the Consumer Financial Protection Bureau (CFPB) the following attributes are commonly accepted as contributing to a meaningful financial wellness program:

• Helping employees improve financial security by developing financial skills 

• Addressing issues that cause financial stress for many employees (including college debt, credit card debt, access to cash in an emergency, saving for retirement, managing healthcare costs, balancing Health Savings Accounts and High-Deductible Health Plans, caregiving, and divorce) 

• Supporting employees’ ability to manage both short- and long-term financial needs 

• Including a sequence of communications over time, so wellness becomes routine 

• Integrating employer-provided benefits (retirement, health, and welfare) to provide a comprehensive picture to each employee 

• Providing accessibility to the employee’s entire family so that all members can benefit and reduce their stress  

In terms of delivery, effective programs are:

• Delivered over time, not at one point in time
• Interactive and require some participant input in programs delivered to each employee
• Personalized based on an assessment of an employees’ ongoing financial wellness and include an action plan for their current financial goals
• A mechanism for employees to monitor progress made and to manage their plan over time
• A way to provide periodic coaching to help implement employees’ personalized action plan

From Awareness to Action

Effective financial wellness programs don't just check a box, they create real, lasting change. The key element? Human connection. Personalized, periodic coaching helps employees build timely action plans at the household level, and not just at the workplace level. This is what moves the needle from awareness to action. 

A truly effective program must be holistic. That means financial professionals who can speak to an employee's full financial picture, not just their 401(k) balance. It also means creating a space where employees feel safe being honest. Engaging a third-party financial wellness partner is one of the most impactful steps an employer can take, giving employees the confidence to share sensitive information without fear of it affecting their job. 

Your employees don't manage their finances alone, and your program shouldn't either. A spouse or partner's financial situation directly impacts your employee's wellbeing. Supporting the household, not just the individual, is what separates a good financial wellness program from a great one. 

The bottom line: your employees want to feel financially secure, and they're looking for you to help them get there. Building that support doesn't have to be overwhelming; the right advocate makes all the difference. Reach out to your local OneDigital advisory team to start building a financial wellness strategy that truly works for your workforce. 

Want to dive deeper into what a personalized financial wellness program can do for your workplace? Check out Making Cents of Financial Wellness to learn more.