Employee Financial Wellbeing

Employee Financial Wellbeing

Learn how your organization can benefit from employee financial wellbeing. 

What is Employee Financial Wellbeing?

Employee financial wellbeing is the study of an employee’s financial health and ability to confidently manage financial life today while preparing for the future and anything unexpected.

Organizations can influence employee financial wellbeing and improve overall workforce resilience by offering retirement and health benefits, support in obtaining retirement income, tailored financial education and planning and guidance on achieving non-retirement savings goals.

Why is Employee Financial Wellbeing Important?

Financial wellbeing is a key component of an employee’s overall wellbeing. And organizations are only as strong as their workforce. It’s a common misconception among employers that if an individual is in employment, they will be relatively financially healthy — but stressors ranging from student loan debt to inadequate retirement savings can lead to higher rates of employee absenteeism, presenteeism, and a lack of motivation, productivity, and engagement.

Implementing a tailored and effective employee financial wellbeing program can help employers to empower their employees and bolster workforce resilience.

What are the Benefits of Prioritizing Employee Financial Wellbeing?

How Can Aon Help with Employee Financial Wellbeing?

Aon helps organizations approach employee financial wellbeing by understanding their workforce's financial behaviors, situations, opinions, and goals, as well as their worries. We then use our 4P’s Framework to work with clients to develop and execute targeted and engaging financial wellbeing and savings programs that establish healthy financial habits, deliver sustainable behavioral change, and measure the related improvement.

Aon’s Employee Financial Wellbeing Framework

Organizations are positioned to support their workforce in all areas of financial wellbeing:

  • Prepare

    Build financial knowledge and skills across the workforce. 

    Areas to address: 

    • Emergency funds
    • Budgeting
    • Credit and debt management
    • Student loans
    • Financial education
  • Plan

    Build short-, medium- and long-term financial goals and challenges.

    Areas to address:

    • Retirement
    • Home
    • College
    • Stick
    • Health savings
    • Financial guidance, advice, coaching and planning
  • Protect

    Build financial resilience for the unexpected.

    Protection from: 

    • Loss of income
    • Critical illness
    • Death
    • Disability
    • Legal
    • Other risks
  • Preserve

    Build financial security and protect wealth against adverse events.

    Areas to Address:

    • Lifetime income/investments
    • Social security
    • Estate planning

4P

We use our 4Ps Framework to work with clients to develop and execute targeted and engaging financial wellbeing and savings programs. 

Downloadable Resources

Title
File Type
File Size
Are Your Public Sector Employees Ready for Retirement
PDF (238KB)
PDF
238KB
Measuring Retirement Readiness for Public Sector Employees
PDF (195KB)
PDF
195KB

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