Is Your Employee Hardship Fund Worth the Headache?
Hardship funds are built with good intentions, but they often provide too little relief for the financially struggling while adding too much administrative burden for employers. Read on to explore the hard truth behind hardship funds, and how Brightside Financial Care changes that with an innovative approach that delivers meaningful impact for employees and employers. […]
Will a Benefit Really Alleviate Employees’ Financial Struggles? 7 Key Questions to Ask
More employers accept that employee financial stress isn’t an individual employee issue – it’s a business problem that drives higher turnover, absenteeism, and healthcare costs. Despite the sheer volume of traditional financial wellness and point solutions on the market, finding those that will address the needs of the 70% of employees who are not financially […]
Why Helping Frontline Employees Navigate Tax Season Matters
Tax season can provide a financial lifeline to lower-income employees who qualify for valuable tax credits that may lead to a tax refund – but the IRS reports that 1 in 5 miss out on thousands of dollars each year. Employers that think beyond traditional financial wellness approaches and provide comprehensive financial benefits that include […]
What 12 Years of Data Reveal About Employee Financial Health
The FINRA Foundation’s National Financial Capability Study (NFCS) has tracked financial wellbeing in the U.S. since 2009, providing valuable insights into how Americans manage their money, their financial knowledge, and their ability to handle financial shocks. After more than a decade of data collection, these key trends have emerged — many of which have implications […]
Rethinking Financial Wellness: How 3 Employers Are Treating Financial Illness
With just 13% of frontline workers considered financially healthy, financial illness is one of the biggest unaddressed opportunities for any employer with a large frontline workforce. It costs employers an additional $1,200 per employee in higher healthcare costs each year, hinders productivity, and compromises workplace safety. Financial challenges even prevent employees from getting to work […]
How Financial Benefits Impact Inclusion in the Workplace
Discussions about diversity and inclusion in the workplace face significant challenges, particularly as some major organizations recently ended or scaled back initiatives. However, the need for fair and inclusive workplaces isn’t going away. Employees increasingly expect fair treatment across the employee experience, including their benefits. As Tom Spann, Brightside CEO and co-founder recently told BenefitsPRO: […]
Supporting Employees Through Crisis: How Brightside Makes a Difference
Natural disasters and unforeseen crises, like the ongoing California wildfires, leave employees facing immense uncertainty. Beyond the physical and emotional toll, many impacted employees find themselves navigating urgent financial needs, such as lost wages, unexpected major expenses, and how to replace lost and critical resources including housing and transportation. For HR leaders, these moments can […]
How Brightside Boosts Employee Benefits to Drive Impact
Benefits leaders invest significant time, money, and effort to offer relevant employee benefits that align with budgets and deliver meaningful results. Yet, because the core pillars of employee wellbeing often overlap, employees may need to address multiple issues before they see positive changes. For example, 70% of employees are not financially healthy, but many also […]
Why Financial Illness is a Business Problem Employers Can’t Ignore
Employee financial health is in crisis—and it’s a business problem that costs companies more than they may realize. A WTW study revealed that poor employee financial health costs large employers $3,000 to $4,000 per employee each year. While physical and mental wellbeing programs have grown in popularity, poor financial health remains the most overlooked dimension […]
How Employers Can Offer Safe Employee Loans That Protect Financial Health
When money emergencies strike, employees often feel forced to take out loans as a quick fix. With 70% of Americans considered financially unhealthy—struggling with low credit scores, debt, and little to no savings—many turn to high-interest payday loans, predatory lenders, or even their 401(k) to get by. These options worsen employees’ financial stress and ultimately […]
