Why Financial Wellness Benefits Matter More Than Ever

When we talk about what employees expect from their employers, financial support ranks high on the list—right alongside career growth, work-life balance, and overall well-being. Given the financial pressures employees face today, it’s no surprise that many companies are stepping up to offer meaningful financial wellness programs.

From student loan repayment assistance to the growing interest in Health Savings Accounts (HSAs), organizations are looking for ways to support their workforce beyond just a paycheck. A great example? Pepsi recently rolled out its Healthy Money program, in partnership with a financial education platform. This initiative provides personalized financial wellness plans, covering everything from basic financial literacy to retirement planning, and is available to Pepsi’s 280,000 employees across 59 countries.

The Cost of Financial Stress at Work

Financial insecurity doesn’t just impact an employee’s personal life—it spills over into the workplace. A 2024 PwC study found that:

• 57% of employees say finances are the top cause of stress in their life.

• 25% say money-related stress impacts their productivity.

• On average, employees spend eight hours per week at work worrying about their finances.

That’s a full workday lost to financial anxiety every week. And Pepsi’s workforce isn’t unique in this challenge. According to a BrightPlan survey, 85% of employees say financial stress affects them, and 95% cite inflation as a major concern. More than half of workers feel their paychecks just aren’t keeping up.

The Business Case for Financial Wellness Benefits

Pepsi’s initiative is already delivering results: more than a quarter of participating employees have made changes to their 401(k) contributions. That’s a win for long-term financial security.

Yet, despite the clear benefits, there’s still a gap in adoption. A 2023 Transamerica Institute report found that while 77% of employees consider financial wellness programs important, only 28% of employers currently offer them. That’s a massive missed opportunity.

But the tide is turning. Financial well-being is becoming a top area of investment for employers, and by 2026, nearly half (47%) plan to add financial wellness tools to their benefits packages, according to CloudPay. Employees are paying attention, too—80% say they would stay with their employer longer if financial wellness benefits were available (PNC Bank).

What Employers Can Do Today

So, what can HR leaders and employers do to address financial stress in their workforce? Here are a few actionable steps:

1. Assess Your Workforce’s Needs – Conduct surveys or focus groups to understand the biggest financial concerns of your employees.

2. Offer Personalized Financial Education – Provide access to financial literacy tools, coaching, and retirement planning resources.

3. Consider Student Loan or Emergency Savings Assistance – Programs that help employees manage debt or build a financial cushion can be game-changers.

4. Promote Existing Benefits – Many employees don’t fully understand or take advantage of available benefits, so clear communication is key.

The bottom line? Supporting employees’ financial well-being isn’t just a nice-to-have—it’s a strategic move that boosts retention, productivity, and overall workplace satisfaction. If your company isn’t investing in financial wellness benefits yet, now is the time to start.