Employee Financial Wellness | Mercer US

Wealth and Investments

Employee Financial Wellness

Zen and the Art of Employee Financial Wellness

Employees facing less financial stress and distractions; employers benefitting from a more focused, engaged and productive workforce —financial wellness programs for employees can help them find balance and control over their financial picture, now and throughout their lifetime.

Drive Engagement, Productivity and Success

Improving employees’ financial wellness can lead to heathier employees, reduce absenteeism and lower turnover rates, while raising employee satisfaction and improving the employer brand.

However, for financial wellness programs to be successful they need to do more than just provide education, they need to result in employees taking appropriate actions that lead to financial success.

Helping Employees Throughout Their Lives

Mercer’s approach to employee financial wellness focuses on engaging employees throughout their lives, with a focus on financial management and responsibility. The objective is to help employees reach their financial goals for every stage of their “financial lives,” whether it’s saving for a house, a car, college or retirement.

"Anyone who makes a living wage can attain financial wellness through a combination of smarter benefit designs, better tools, and appropriate guidance."

The Strategic Benefits of Financial Wellness

Organizations have every reason to want their employees to financial well-being. An effectively designed employee financial wellness program can help employers:

  • Bolster productivity – Employees aren’t distracted by financial stress.
  • Drive more predictable workforce flow throughout the organization.
  • Improve physical health – There is a connection between financial and physical health (people with high levels of financial stress are more prone to sickness).
  • Increase employee engagement and retention.
  • Help the overall wellbeing of employees – Create more affordable retirement opportunities for all employees and enable career advancement opportunities for younger employees.

Having a clear understanding of the business benefits of financial wellness, integrated within the overall employee financial wellness and HR talent/acquisition strategy, ensures corporate commitment and is key to a successful financial wellness program.

"A financial wellness program that really works is one that speaks to different members of your workforce in a way that resonates with each and every individual resulting in a highly customized financial experience."

The Human Side of Data

Why Mercer?

  • Our methodology relies on data analytics to provide insights into employee behaviors. We use statistical analysis to isolate demographic and behavioral characteristics to find the most successful financial programs and tactics for employees. We then also craft “personas” from the data to increase employee engagement.
  • Our goal is to help employers develop a sustainable approach to financial wellness that improves financial outcomes for employees. To better ensure that both employees and employers derive maximum value, we can also perform a cost-benefits analysis.

Vendor Research and Monitoring

In the US there are well over 300 financial wellness vendors. They operate in a market that is not well-established, and is evolving at a rapid pace. The companies themselves are young, with limited track records. In such an environment in-depth vendor research and ongoing vendor monitoring is essential, Mercer has a team of specialists focused on financial wellness vendor research and monitoring.

Give Employees Help, Not Hype

Theres's  a lot of financial advice out there; most have a not-so-hidden agenda, linking advice to investment programs and products. With Mercer Financial Wellness, we are transparent with our clients and help them to be transparent with their employees in order to bring them an optimal financial wellness program and help improve their 'financial lives'.

How Mercer Can Help

Mercer financial wellness programs help employees take action and reduce financial stress while employers drive engagement, and increase workforce engagement and productivity. Please fill in your information below to contact a Mercer Financial Wellness Consultant.

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