The first step to creating a financial well-being strategy is to assess the needs of your population. To solve the problem, you must understand the unique struggles that face your community. Although there are common themes, issues vary by company size, industry, and other employee demographics.
National statistics show that Americans only have $400 saved for an emergency, but that may not mean emergency savings is the problem you need to tackle. Try to gather as much data as possible about your employees. Below are resources to guide your company’s evaluation of the employees’ needs to more effectively design solutions. When in doubt, ask them.
Individual financial well-being assessments can help employees determine their level of financial well-being.