Value to Employers

Academic Articles & Resources

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THINKING BEYOND REWARD: Linking people’s financial wellness to a company’s performance
Stress costs UK businesses 12.5 million working days a year and financial concerns are often a major contributory factor. Yet reward strategies – and government policy – are focused on long-term saving, particularly since the auto-enrolment (AE) project began. This fails to address the financial needs of our changing society . Financial wellness can deliver improved business performance, but there is a mismatch between what employees consider important and what they are prepared to save. Businesses must take the lead, build their own model and then embed the process within the culture in order to determine what their employees actually need .

Financial Health at Work: A Prescription for Productivity
This infographic illustrates aspects and trends of employee financial health, from how financial stress at work hurts employee productivity to how investing in employee financial health is good for business.  Center for Financial Services Innovation, January 10, 2018

How do you know if financial wellness is paying off for you and your people? Understanding the ROI of employee financial wellness
This report highlights how benefits of financial wellness programs are well documented, but organizations want metrics and measurements to validate the expense.

Special Report: Financial stress and the bottom line
Financial stress can have a major impact on employees, from greater health concerns to trouble with relationships and distractions at work. This same stress can also influence a company’s well-being, including potentially higher costs due to elevated healthcare plan use, lost productivity from distractions/ absenteeism, and lower savings for retirement or medical expenses. This special report, based on the results of our 2017 Employee Financial Wellness Survey, delves into data around stress and its impact on the financial well-being of both the employee and employer. Authors: Kent E. Allison and Aaron J. Harding, Employee Financial Education & Wellness, September 2017.

2017 The Employee Financial Wellness Survey 
A publication from PwC’s employee financial education and wellness practice. It tracks the financial well-being of full-time employed US adults nationwide. This year it incorporates the views of more than 1,600 full-time employed adults.

An Employee Crisis: Financial Literacy With a lack of financial literacy among employees, what can companies do?
A Purchasing Power Special Report, April 2016

Financial wellness at work A review of promising practices and policies
The Consumer Financial Protection Bureau, April 2014

A Closer Look: What’s Working in Workplace Financial Education
The International Foundation of Employee Benefit Plans
February 2014

Financial Literacy and Workplace Outcomes: Presenteeism and Absenteeism
Prawitz, 2013

Financial Stress and Workplace Performance: Developing Employer-Credit Union Partnerships
E. Thomas Garman, Flora Williams & Robert Weisman

Employer-Sponsored Education Programs and Incentives to Improve Employees’ Financial Lifestyles
E. Thomas Garman

Impact of a Workplace Financial Education Program on Financial Attitude, Financial Behavior, Financial Well-Being and Financial Knowledge
Jinhee Kim

The Negative Impact Of Employee Poor Personal Financial Behaviors On Employers
E. Thomas Garman, Irene E. Leech & John E. Grable

Workplace Financial Education Provided by NFCC Member Credit Counseling Agencies
Dorothy C. Bagwell, Paul L. Camp & E. Thomas Garman

The Potential Effects of Workplace Financial Education Based on the Relationship between Personal Financial Wellness and Worker Job Productivity
So-hyun Joo and E. Thomas Garman

E.Thomas Garman

Employer’s Return-on-Investment Model for Workplace Financial Education and Assistance Programs
Thomas Garman

Some Benefits of Workplace Financial Education
Jinhee Kim, Dorothy C. Bagwell, E. Thomas Garman & Jordan E. Goodman

Weighing the Effects of Financial Education in the Workplace
Edmiston, Gillet-Fisher, McGrath

Education to promote employee financial well-being: What role for employers? Experiences from the U.S.
Employee Financial Wellness: A Corporate Social Responsibility
Prawitz & Garman

Defined Contribution Plans Emerging in the Public Sector
The Manifestation of Defined Contributions and the Effects of Workplace Financial Literacy Education, Review of Public Personnel Administration
Holland, Goodman & Stich

Workplace Financial Education Program: Does it have an Impact on Employees’ Personal Finances? 
Journal of Family and Consumer Sciences

Financial Behaviors of Consumers in Credit Counseling
International Journal of Consumer Studies
Xiao, Sorhaindo, & Garman

Financial Education at the Workplace: Evidence from a Survey of Federal Reserve Bank Employees
Edmiston & Gillett-Fisher

Relationship between Financial Stress and Workplace Absenteeism of Credit Counseling Clients
Journal of Family Economic Issues
Kim, Sorhaindo, Garman

Financially Distressed Consumers: Their Financial Practices, Financial Well-being, and Health
Financial Counseling and Planning
O’Neill, Sorhaindo, Xiao, Garman

Financial Stress, Pay Satisfaction and Workplace Performance
Compensations and Benefits Review
Kim & Garman

Financial Stress and Absenteeism: An Empirically Derived Research Model
Financial Counseling and Planning
Kim & Garman