*This article was last updated April 1, 2020.
Mortgages, rent, student loan repayment, utility bills, childcare and trips to the grocery store — the list goes on. These are only a few of the expenses your employees encounter on a weekly and monthly basis.
It’s no wonder 78 percent of Americans are living paycheck to paycheck External Site.
Even if your company is offering competitive salaries and benefit packages, the expenses continue to pile high.
According to BenefitsPro External Site, 60 percent of employees in the U.S. say they are financially stressed — more than all other life stressors combined. Studies show when employees are financially stressed, they are less productive, more distracted, produce lower-quality work and have poorer relationships with their coworkers.
U.S. businesses are losing $500 billion a year due to employees’ personal financial stress.Source: Salary Finance External Site
Not only should employers (like you) be concerned about this problem, you should be finding ways to solve for your employees — especially since they are spending more time at work than anywhere else.
A financial program completely free to you and your employees
We realize not all companies have the luxury of affording a comprehensive financial well-being solution. That’s why we’ve done the hard work for you and found reliable, cost-effective solutions to meet your business (and employees) wherever they may be.
Meet EveryDollar External Site, the free financial and budgeting program your employees can use now
By encouraging your employees to sign up for EveryDollar — for free — they can begin creating a monthly budget that helps them achieve their financial well-being goals. Employees can copy one month’s budget to the next and adjust whenever they need to. So, for example, if your employees are planning a team outing or happy hour, they can move money around to make room for it. Your employees will experience less physical and emotional stress.
The best part(s)? Not only is it free, your employees can create their first budget in less than 10 minutes!
Want more free content to share with your employees to bring them on their way to financial health and well-being?
- Everything you need to know about budgeting External Site
- How to stick to your budget External Site
- How to Save Money: 20 Simple Tips External Site
Need extra support? Our team of experts are here to help
At Wellmark Blue Cross and Blue Shield, we understand your business and have insights and data on your employees that you may not have in-house. Our team of employer health and well-being consultants can serve as an extension of your workforce and provide expertise in creating solutions to meet the unique needs of your employee population.
If you are interested in learning more, contact your authorized Wellmark account representative, or email us at firstname.lastname@example.org Send Email.