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 […]
Why It’s in Your Best Financial Interest to Help Employees Manage Debt
Employers, your employees carry record levels of household debt -and it directly impacts your business. The majority of Americans now call finances their biggest source of stress. The proportion of people who call their debt unmanageable has increased from 38% to 42%, in the past year alone. Credit card debt is the highest it’s been since 2003, and serious […]
7 Signs Your Employees Are Not Financially Healthy
If you’re like 68% of benefits leaders recently surveyed by Mercer, you plan to support employees’ financial wellbeing in 2025. But to see a positive impact on employees’ financial lives and organizational ROI from the benefit, it’s critical that you first understand the financial challenges and barriers they need help overcoming. More than 70% of […]
Emergency Money: Do Your Benefits Help Your Employees?
Financial shocks impact 60% of Americans each year and more than half struggle to make ends meet six months after the event. For financially vulnerable frontline employees challenged by low credit scores, costly debt, and no savings, just one money emergency can start a downward financial spiral that lasts years. Without access to real solutions […]
Putting Earned Wage Access in its Place
This article was written by Tom Spann, Brightside CEO and co-founder, and originally published in HR Daily Advisor on June 6, 2024. In December 2023, the Consumer Financial Protection Bureau (CFPB) announced plans to outline how consumer lending laws interact with earned wage access (EWA) programs. These programs have grown in popularity as a solution […]
Brightside Ranks Among Highest-Scoring Businesses on Inc.’s Annual List of Best Workplaces for 2024
Brightside, the first Financial Care solution for employers, has been named to Inc.’s annual Best Workplaces list for the second consecutive year. Prominently featured on Inc.com, the list is the result of a comprehensive measurement of American companies that have excelled in creating exceptional workplaces and company cultures, whether operating in a physical or a […]
How Amazon Supports Frontline Employees’ Financial Health
When Amazon’s team asked employees about their perceived value of a range of different potential benefits, it learned that its frontline employees wanted financial benefits that could help with basic financial needs such as groceries, medications, and electrical bills. “Those financial benefits just kept coming to the top of our employee want list,” said Justin Roberts, Amazon’s […]
Want to Support Employee Mental Health? Address Their Top Source of Stress
Employers invest billions of dollars on behavioral tools meant to support employee mental health, but behavioral health needs still drive 41% of all healthcare spend. Why? Finances – employees’ biggest source of stress – aren’t being addressed. Frontline employees, who are more financially vulnerable than the broader workforce, suffer even more intensely. They have day-to […]
5 Facts Employers Should Know About Frontline Employees
1. Frontline workers are struggling financially Financial Health Network’s data indicates that 30% of Americans overall are considered financially healthy based on eight different financial health measures; the figure dips to 13% when looking specifically at frontline employees. While 25% of frontline workers are considered financially vulnerable, that’s true of just 17% of the broader […]
