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 […]
The Critical Role of Sleep and Financial Stress in Workplace Safety
The financial stress brought on by employee financial illness is a contributing factor to workplace safety issues, due in part to reduced cognitive performance and sleep disturbances. The risks associated with financial stress and sleepiness are dangerous and costly to employees and employers alike. Read on to learn why and how investing in improving employee […]
5 Reasons Workplace Emergency Savings Accounts Won’t Improve Employee Financial Health
Realizing that financial wellness solutions such as financial education, coaching, and planning are not moving the needle on employee financial health, some employers are now considering different approaches. As a result, workplace emergency savings accounts (ESAs) are a type of employee benefit that has increased in popularity. While having liquid savings is an important component […]
Brightside Selected as a 2024 BenefitsPRO Luminaries Awards Winner
Honored within the Industry Impact category, Brightside helps support financially ill employees address urgent needs and face complex challenges that cannot be solved by CFP-led financial planning or one-size-fits-all financial education. October 9, 2024 — Brightside, the only Financial Care solution for employers, today announced that it has been named to the BenefitsPRO Luminaries Class […]
Are You Investing in the Wellbeing Benefits Employees Value?
If you’re a benefits leader, you know how much time, money, and energy goes into creating a benefits package that is relevant to your workers’ needs, fits your budget, is used and loved by your employees, and delivers positive outcomes and measurable ROI. As rising healthcare costs continue to eat into total rewards budgets, offering […]