Financial education programs in the workplace can significantly increase employees’ ability to save money and make them more productive, according to a survey commissioned by FinFit.

With the help of a financial wellness program, 66% percent of employees say they have been able to increase their monthly savings. Thirty-one percent increased savings between $1 and $50, 25% by $51 to $200, 7% by $200 to $400, and 3% by more than $400.

Additional highlights of the survey include:

  • 85% of employers report that employees became more productive at work after using a financial wellness program to resolve a personal challenge;
  • 91% of employees indicate that the program allowed them to solve a financial dilemma and subsequently refocus attention on work; and
  • 71% of employees say there was an increase in financial knowledge and well-being as a direct result of participation in a financial wellness program

“It’s incredibly validating to learn that financial wellness programs are delivering such positive results for employers and employees alike,” says David Kilby, president of FinFit.

Related articles:

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required