The WFSI has been invited by the Asset Funders Network to develop a brief that summarizes the research evidence on employee financial wellness programs.
The brief will:
- Describe and summarize evidence, including findings from Phase 1 and 2 of our Employee Financial Wellness Programs study, concerning a range of financial wellness products and services (savings programs, financial coaching, fin tech apps, small dollar loans) that encompass high- and low-touch strategies, digital technologies, and delivery channels and address different aspects of employee financial wellness.
- Examine the role of Human Resources managers and departments in EFWP implementation success and public policies that may contribute to employers’ willingness to provide EFWPs and other benefits that may improve employees’ financial stability (e.g., proposals to make it easier for employers to offer emergency savings programs).
Discuss implications for philanthropy, considering questions such as:
1) What role should philanthropy play concerning the needs of employees of small businesses that may be less able to afford certain types of financial wellness programs?
2) How might philanthropy encourage employers to consider financial wellness benefits and other workplace innovations that help financially vulnerable workers and support companies’ bottom lines?