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Alight named by Fortune as one of the ‘100 Best Companies to Work For’ in 2024

Financial wellbeing is essential to overall employee wellbeing

Employers are in a powerful position to help their people improve their financial wellbeing. What’s more, employees have come to expect it. However, it’s not just employees who stand to benefit from a focus on financial wellbeing. Such an investment results in a positive impact on the company’s financial health as well.

In an era where financial stress is prevalent, Alight’s white paper, Money matters: Improving financial health boosts overall wellbeing, dives into the intricate relationship between financial health and overall employee wellbeing and the role of employers in supporting their peoples’ financial health journey.

To thrive in today's higher cost of living, employees are making sacrifices. However, financial concerns persist, impacting their overall wellbeing. For example1:

  • 67% of employees have cut spending, yet 31% have no money left at the end of the month. 
  • 49% fear their money won't last, with 46% feeling finances control their lives.
  • 39% worry they'll never achieve their desired life due to financial constraints.

Financial worries have led employees to drastic measures:

  • 44% reduced long-term savings, 
  • 45% cut short-term goals, and
  • 33% took second jobs. 

Financial worries dominate employees' thoughts, with 56% identifying it as their top stressor. 

All data referenced in this whitepaper is from 2023 Alight International Workforce and Wellbeing Mindset Study.

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