WHY MY COMPANY NEEDS FFE™
of Employees Use Work Time to Deal with Personal Financial Problems6,9
of Employees Admit Financial Concerns Impact Work Productivity3,6
• Financial stress. Employees’ financial stresses cost companies’ money.1
• Lost work time. The majority of employees (90%) use work time to deal with personal financial problems.6,9
• Decreased productivity. Employees (80%) admit financial concerns impact work productivity.3,6
• Lost employee wages. On average, 150 work hours per employee are spent each year dealing with financial problems.10 The financial stress results in $250 billion lost in employee wages.10
These statistics are not surprising, because employees have reason for concern. Fifty-five percent of Americans do not have enough savings to cover one month of lost wages.18 And two-thirds of U.S. employees are worried they are not saving enough money for their future needs.2
Financially Fit Employees™ (FFE™) is a financial wellness service structured specifically to save companies money, by addressing employees’ financial stress. Company administrations offer FFE™ service enrollment as part of existing benefit packages to increase employee financial wellness. The services available through FFE™ are scientifically sound and based on up-to-date research assessing effectiveness of tactics designed to foster individuals’ financial wellness behavior.6 Applying social-psychological and psychological theories, the strategies are designed to improve employees’ motivation and skillset to increase financial wellness.6
Financially Fit Employees™ services are available online, making them easy to use during employees' free time. The first component focuses on providing an incentive for positive financial behavior change. The second component emphasizes ongoing financial wellness development. The third component offers financial coaching, to support employees’ financial wellness growth. The fourth component offers employees personalized financial wellness reports to measure progress. The fifth component offers employees community support with their financial goals.
Companies receive aggregated employee productivity reports as well as aggregated financial wellness reports.