Workplace Financial Health Innovation: Exploring the Spectrum of Financial Guidance Solutions for Your Employees

Employees across industries are managing a wide range of financial health needs, and they are increasingly looking to their employer for support. As employers consider how best to support the financial health of their workforce, there exists a wide variety of financial guidance solutions that they can offer. Some solutions offer basic financial education on concepts and products, some use financial products to support specific financial needs, and still others offer more therapy-based solutions. There is also a growing number of financial coaching services, which provide customized financial advice, working closely with individuals on their financial goals. As employers consider which financial guidance benefits to offer, they must consider a range of factors – including the makeup of their workforce, how the guidance is delivered, and cost structures – in order to identify the most high-impact solutions for their employees.

For nearly three years now, workers have managed financial volatility and uncertainty brought on by COVID-19 and an ever-changing economic landscape. The pandemic changed the nature of work, as well as the role of employers in the lives of their workforce.

工人需要解决方案，以帮助他们改善财务状况并管理财务生活的日益复杂性，并向雇主寻求支持。越来越多的公司正在以越来越多的财务健康福利为其提供财务指导。这些类型的收益有可能帮助解决员工的财务问题，减轻财务压力并改善财务状况。

According to the Financial Health Network’s Financial Health Pulse®2022年美国趋势报告，该报告衡量了美国人的财务状况，美国财务健康在报告的五年历史上首次下降。¹人们认为财务健康的人数的百分比 - 意味着他们能够以使他们具有弹性并寻求机会的方式花费，节省，借贷和计划 - 从2021年的34％下降到2022年的31％。²As an uncertain economic outlook continues to loom and pandemic-era monetary stimulus and support have ended, the need for financial guidance is as pronounced as ever. Demand for financial wellness benefits was on the rise pre-pandemic, and it has continued to grow over the last three years.³

个人财务健康需求与劳动力本身一样多样化，财务压力会影响任何和所有员工。这些需求中有许多是短期的，但雇主传统上提供了满足长期需求的好处，例如退休福利。⁴但是，研究表明，以诸如创建和遵循预算之类的直接方面的支持可以使员工感到更加控制和自信。⁵This confidence can lead to less stress, which has the potential to improve workplace productivity, job retention, engagement, and ultimately, profitability.⁶

In a survey of 1,000 employees at midsize and large U.S. firms, 71% of respondents said they would be comfortable discussing financial matters at work with a financial professional unaffiliated with their employer, with younger employees saying even more frequently that they welcome this type of financial support.⁷工人财务生活的复杂性需要一个量身定制的解决方案。

For employers ready to begin offering new benefits or review their existing offerings, there is a spectrum of financial guidance solutions in the market. For example,education platformstypically offer an explanation of concepts and benefits, leaving individuals to make their own decisions regarding their financial journey. These types of solutions don’t prescribe specific next steps to achieve financial goals.

也有财务教练解决方案，，，，which involve customized financial advice from a trained and trusted individual or organization, addressing specific financial health challenges mutually identified between the coach and the individual. Unlike financial education solutions, financial coaching presents actionable and personalized solutions, such as creating budgets and monitoring progress.⁸有明显的证据表明，金融教练可以改善财务福祉并改变财务行为。⁹

分别地，financial planning services为个人提供有关其财务生活和未来的全面看法，通常会创建逐项的路线图，以解决未来收入预测和资产管理之类的问题。这些解决方案的提供者可以充当受托人，雇用认证的财务计划者，向员工和/或客户采取特定行动的建议。

财务指导的更新和创新的模型，例如financial therapy and financial care，，，，也出现了。金融与th治疗协议e emotional side of money management and uses evidence-based practices and interventions to help clients improve their overall well-being in addition to their financial health.¹⁰

除了金融guidanc的各种模型e solutions, there are also multiple types of delivery channels, including digital-only, in-person, virtual bot, human chat, or a hybrid approach that may combine in-person sessions with digital monitoring or chat functionality. Increasingly, solutions provide real-time digital access and response while also offering some kind of human touchpoint, if requested. Research has also shown that guidance that is immediately actionable is associated with higher completion rates.¹¹

Financial guidance and support within the workplace is growing. Employers are increasingly offering their financial wellness benefits to employees and advertising them to candidates; in turn, individuals are looking to their employers to play a more supportive role in their financial health. Among the various types of financial wellness benefits that exist, financial guidance is an increasingly common form of this support. Across the spectrum of solutions, financial coaching is unique in offering personalized and objective guidance across a range of topics to help employees make timely progress toward goals. All employees manage complex financial lives, and employers will be wise to offer financial guidance solutions that meet their workforce’s specific needs.

For more employer resources or help determining what might work best for you and your workforce, please reach out to the Financial Health Network’s工作场所解决方案team. Our experts can help employers and HR teams make informed decisions on improving the financial health of their workforces. You can alsoexplore the fullEmployer FinHealth Toolkit。