How COVID-19 Has Affected Employees' Needs for Financial Wellness

During a year of many uncertainties and unfortunate circumstances, Americans have struggled significantly with gaining the financial wellness support they need. In an article published on researchgate.net earlier this year, author Kana Sukumaran highlights a study conducted by the National Endowment for Financial Education (NEFE), which found that nine out of ten Americans reported high levels of stress due to financial troubles during the COVID-19 pandemic. More specifically, NEFE discovered that 41% of respondents accredited the majority of their stress to their lack of monetary management in case of emergencies.

Indirectly relating to these findings, a recent article written by Sara Kidwell on benefitspro.com states four indications that prove employees have achieved true financial wellness, one of which is having a healthy cushion to handle most fiscal emergencies.

Although it’s difficult to expect the unexpected, implementing the financial wellness services and support your employees need now will hopefully help avoid drastic financial crises in the future.

To learn more about NEFE’s study, visit: FINANCIAL WELLNESS AND COVID-19 

Written By: Your Financially Fit Employees Team