Table of Contents:
Introduction
Key Roadblocks to Employee Financial Well-being
How HR Leaders Can Help Employees Feel More Confident About Their Finances
Helping HR Leaders Understand & Address Financial Stress in the Workplace
What Your Money Line Partners are Saying
Introduction
Your employees are feeling lost when it comes to their money and it’s costing your business more than you think. When financial worries pile up, employees become distracted, miss work, and even start looking for new jobs. Nearly 50% of employees admit that financial stress interferes with their ability to focus at work, and over 43% experience financial stress at least monthly.
It’s not just about productivity. More than 18% of employees say they delay career moves due to financial instability, meaning these worries are keeping talented individuals from growing within your company. When employees feel stuck, even a slightly higher paycheck elsewhere can become a powerful lure away from your organization.
Money stress is a major driver of turnover. When workers don’t see a path to financial stability, they’re quick to seek greener pastures, creating a revolving door that impacts morale, disrupts teams, and increases hiring costs. The reality is clear: financial insecurity affects workplace engagement, with 80% of employees feeling their money struggles hold them back from enjoying life.
So, how can you change the trajectory of your team? We will provide you with actionable strategies to turn these challenges into opportunities—helping you build a more resilient workforce and a stronger, more competitive business.
Key Roadblocks to Employee Financial Well-being
Financial stress doesn’t just stay at home—it follows employees to work, affecting their focus, productivity, and overall well-being. When workers are struggling with debt, unexpected expenses, or a lack of savings, it creates anxiety that impacts their performance and job satisfaction. By understanding these challenges, employers can provide meaningful support that improves financial security, reduces stress, and fosters a more engaged workforce.
Here are four key financial roadblocks employees face—and why employer support in these areas matters:
Managing debt
83% of U.S. households carry some form of debt. High debt burdens create financial stress, limit disposable income, and make it harder for employees to focus on long-term financial goals.
Paying off student loans
$38,000 – The average student loan debt per borrower. With 70% of borrowers feeling overwhelmed by repayment options, many employees delay major life milestones or struggle to save for the future.
Unexpected expenses
2 in 5 Americans can’t cover a $400 emergency expense. Without savings, employees often rely on high-interest debt, leading to greater financial strain and workplace distractions.
Planning for Retirement
57% of Americans have less than $1,000 saved for retirement. Employees who can’t save for retirement may face long-term financial insecurity, increased stress, and delayed retirement, impacting workforce planning.
How HR Leaders Can Help Employees Feel More Confident About Their Finances
1. Audit existing offerings and create a plan
In order to remove the roadblocks to employee financial well-being, HR teams should audit existing financial wellness benefit offerings to ensure they align with employees’ evolving financial needs and deliver measurable impact on retention, productivity, and overall well-being. Review data that surfaces usage and impact to bring into your game plan moving forward.
WHAT HR CAN DO:
Audit current benefits—low participation may signal a lack of awareness or accessibility issues
If you are not currently supporting financial wellness, consider a solution that allows for personalized support like live coaching to address multi-generational needs. Review your workforce for signs of financial stress. Common indicators include:
- Frequent paycheck advance requests
- 401(k) loans
- Low participation in retirement match benefits
- Frequent turnover for higher pay
2. Make financial benefits more accessible & engaging
Simply offering financial tools isn’t enough—employees need ongoing communication and support to utilize existing benefits. Many employees don’t take full advantage of financial benefits like 401(k)s because they don’t understand them, feel they can’t afford to participate, or face financial barriers preventing them from meeting the company match. HR can bridge this gap by making financial wellness more accessible and actionable.
WHAT HR CAN DO:
- Highlight financial wellness benefits in employee onboarding
- Consider a Financial Literacy Month campaign that highlights the existing benefits employees can access to support their financial well-being
- Combine digital tools with live coaching for a personalized experience that leads to higher engagement
- Normalize usage with real-life examples of employees who benefited from financial programs
3. Create a culture free of shame & judgment
Financial stress often carries stigma, making employees hesitant to seek help. HR leaders can help build a company culture that fosters a wellness mindset that encourages increased participation.
WHAT HR CAN DO:
- Treat financial wellness like physical & mental well-being initiatives
- Encourage transparency & normalizing financial conversations
- Promote financial wellness programs as a standard part of benefits
4. Show employees the financial value of staying
Retention isn’t just about salary—it’s about overall financial well-being. Help employees see how your benefits improve their long-term financial security.
WHAT HR CAN DO:
- Provide education on how benefits like debt support, emergency savings programs, and financial coaching contribute to long-term stability
- Illustrate the financial impact of benefits with real numbers, scenarios, or savings comparisons
- Integrate financial wellness messaging into onboarding, benefits education, and company-wide communications to reinforce value over time
5. Listen to your employees
If you don’t know where to start or if you’re thinking you’re missing the mark, you can go straight to the source. Start today by gathering feedback from employees to help make data-driven decisions.
WHAT HR CAN DO:
- Send a short survey to gauge financial concerns & interest in benefits (use our templated survey below!)
- Identify gaps in current offerings based on employee feedback
- Track benefit utilization & look for trends (e.g., low 401(k) participation, paycheck advances)
- Making financial wellness a priority helps employees feel more secure, engaged, and loyal—while strengthening your organization’s retention strategy.
Helping HR Leaders Understand & Address Financial Stress in the Workplace
Access our employee financial wellness survey template
What Your Money Line Partners are Saying:
“It’s a differentiator. Many districts don’t have this, and we’re on the leading edge of that.”
–Angie Smith, Associate Superintendent for Operations at West Aurora Schools
“We find lots of value in focusing on financial wellness across our entire company. If you are struggling financially, it can take a toll on your emotional and physical well-being, which is why we focus on making sure every employee is healthy and well.” –Katelyn Jakoby, Health and Wellness Associate at PPL
“Any time we can help our employees feel less stress in their personal lives, then less stress gets carried into work. It’s a win-win for everybody. Ultimately, it benefits the employees we care about, but also, it’s a benefit to the company.“ –Jack Walker, Senior Vice President at Walker Information