How financial wellness programs can retain and attract talent

Employee financial wellness has long been a staple for many organizations, but it has evolved in the last decade, says Rebecca Liebman, CEO and co-founder of financial wellbeing provider LearnLux. “Financial wellbeing has exploded as a ‘must-have’ program for top employers to address these needs,” she opines. It is “now considered a key pillar of an individual’s overall health.” She tells Ragan Wellness that in 2022, more than 62% of employers felt extremely responsible for the financial well-being of their employees. Liebman further believes that an employee’s full financial life is tied to their employer. “Their paycheck, healthcare, voluntary benefits, equity compensation, and retirement are all provided by a person’s workplace,” she says. “Employers now have a vested interest in keeping healthcare costs low, helping employees make the most of their paycheck, understand their stock options, and stay on track for retirement.”