As companies look for ways to structure benefit packages for employees, financial wellbeing is an area that many are targeting as a way to differentiate themselves from other employers. While more multinational companies are implementing broad wellbeing services, however financial wellbeing is often overlooked. In a recent survey that reviewed wellbeing strategies provided by multinational firms, 34% offered wellbeing services to employees but only 14% of those services included some type of financial wellbeing option. As many people stress over debt and other financial concerns, companies are seeing advantages to offering employees services that focus on financial wellbeing and retirement planning. Those advantages include lower healthcare spending and improved retirement outcomes for employees. Insurers and retirement firms are looking at ways to better understand the financial challenges that customers are facing as a way to offer better solutions and employers are seizing on this opportunity to provide employees with benefit offerings that can help address their financial issues, as well as grow their business by having more engaged employees.
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