A “Financial Wellness Program” is a structured initiative designed by organizations to enhance the financial health and stability of their employees. These programs provide resources, tools, and guidance to help employees manage their finances effectively, plan for their future, and achieve financial goals. Components of a financial wellness program may include financial education workshops, one-on-one financial coaching, budgeting tools, retirement planning assistance, and access to financial products or services.
For example, a company might implement a financial wellness program that includes monthly seminars on debt management, personalized financial planning sessions with certified advisors, and an online portal with budgeting calculators and savings tips. The goal is to empower employees to make informed financial decisions, reduce financial stress, and improve overall well-being.
Related Terms:
Employee Assistance Program (EAP)
Flexible Spending Account (FSA)
