Your employees want financial advice — just not from you – BenefitsPro

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Trust, awareness are important factors to uptake of financial wellness programs, though users still are typically white and male.

man and woman with piggy bank looking surprised and exasperated (Photo: Shutterstock)

Financial wellness programs are becoming a popular offering for employers interested in helping their employees build financial resiliency, especially in the wake of the COVID-19 pandemic. There are several factors employees need to consider when implementing and refining financial wellness programs to ensure they are successful.

The Defined Contribution Institutional Investment Association Retirement Research Center explored these considerations in a recent report titled “Design of Financial Wellness Programs: What Do Employees Want and Whom Do They Trust?” The report explores challenges with employee awareness and engagement in financial wellness programs, as well as how their trust in those delivering such programs can impact participation and program success.

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