3 Reasons to Add Financial Wellness to Your Benefits Package
As an employer, you want engaged, happy employees to show up to work each and every day. A robust employee benefits package signals to your employees that your business (and their job) is stable and secure. It also shows that you care about them and their needs. These two psychological benefits alone can lead to improved job performance and satisfaction. We believe a comprehensive financial wellness program should be a key part of your overall benefit package, especially because it helps in these three specific areas:
1. Reduce Your Employees’ Financial Stress
Financial stress can make it hard to concentrate and can have deleterious long-term health consequences. Particularly in an uncertain economy, and with studies indicating that financial stress is on the rise, why not give your employees a helping hand? In fact, the issue may be more common than you think: according to a 2024 survey administered by Qualified Plan Advisors, 68% of surveyed adults reported feeling stressed about money.1 Additionally, current political and economic events may be amplifying these feelings of money stress.
In many instances, financial stress is caused in part by a lack of education and financial management. At Old National, we offer our business banking clients a solution. As part of our Empowered Perks Program, we offer Real-Life Finance, an award-winning financial empowerment program.
As an employer that enrolls in the Empowered Perks Program, you would have the option to bring financial educators on-site free of charge for classes, or your employees could enroll in comprehensive and interactive online tutorials that they can complete at their own pace.
2. You May See Increased Productivity
Employees who have their money matters sorted are much more likely to be able to approach work calmly and without distraction. This means a deeper commitment to work and higher productivity. That can be a big boost to your bottom line.
In fact, according to a recent study by BrightPlan, employees report losing over 7 hours of productivity per week due to financial stress. The authors of the study estimate that this costs U.S. employers up to $183 billion in lost productivity per year.2
When you enroll in the Empowered Perks Program, you may see increased job satisfaction and lower levels of burnout—all because you took advantage of this free benefit partnership with Old National Bank.
3. Enhanced Recruitment and Retention
Did you know that 78% of business leaders in the BrightPlan survey said that employee financial stress had led to higher turnover last year?2
A strong benefits package can help you attract top talent. And it can help you keep your employees. That’s powerful: It means more experienced employees who are focused on business problems. And for you and your HR team, it means less time in the arduous hiring and training process.
Right now, we’re seeing job seekers request financial wellness benefits as part of their employment packages. Many employers are responding by including it into their compensation offerings to stay competitive in the hiring marketplace.
Don’t get left out: A recent study found that by 2026, nearly half (47%) of employers will offer financial wellness benefits.2
At Old National, we know the value of a strong benefits package. That’s why we offer the Empowered Perks Program to our business banking clients. Contact us to get started—as a reminder, it comes at no cost to you.
Learn more at https://www.oldnational.com/business/small-business-banking/partnership-banking/
1. Source: Press Release from Qualified Plan Advisors via Businesswire: “Nearly Two Thirds of Employees are Financially Stressed, 70% Expect Employers to Help.” Released May 21, 2024. Available online at https://www.businesswire.com/news/home/20240521744437/en/Nearly-Two-Thirds-of-Employees-are-Financially-Stressed-70-Expect-Employers-to-Help
2. Source: Press Release from BrightPlan via PRNewswire: “New Study: 86% of Gen Z Workers are Stressed About Their Finances Reporting Over 8 hours a Week in Lost Productivity” Released April 30, 2024. Available online at https://www.prnewswire.com/news-releases/new-study-86-of-gen-z-workers-are-stressed-about-their-finances-reporting-over-8-hours-a-week-in-lost-productivity-302130716.html
3. Source: BenefitsPRO. “The Future of Financial Wellness: 47% of Employers Will Offer by 2026.” Published online on July 17, 2024. Accessed June 24, 2025. Available: https://www.benefitspro.com/2024/07/17/future-of-financial-wellness-47-of-employers-will-be-offering-by-2026
