Empowering Employees with Financial Well-Being presented by Lockton Companies.
Financial well-being is a concern many people share - nearly a quarter of the American workforce reports high levels of stress in this area.
30% of American families have a household budget and have a long-term plan for savings and investments.
70% of Americans are living paycheck to paycheck.
64% of Americans don’t have enough available cash to cover one mortgage payment or to even purchase one month of groceries.
55% of Americans have less than $25,000 in retirement savings- and 45% of these are over the age of 55.
Financial well-being is one of the most important-and often overlooked- determinants of overall health, absenteeism and productivity. However, only 15% of US companies offer any education around debt management and budgeting for their employees. While many organizations have implemented wellness programs, these are typically based on a traditional approach that focuses primarily on physical health, ignoring the significant affects that financial stress and other elements can have on one’s overall well-being. Financial distress could well be dubbed the silent emergency in human capital, yet less than half of large U.S. companies have, or plan on having, a financial wellness strategy in
place over the next two years... More >><< Less
