Let’s face it. Rising interest rates and stubbornly high inflation are causing financial stress among those who previously felt financially secure. One can therefore appreciate how this one-two punch is now overwhelming anyone who wasn’t already in a decent financial position before these two economic conditions took hold.
It’s well documented that concerns over money and financial security are now contributing to declines in mental wellness. At present, 19.86% of American adults, equivalent to nearly 50 million people, are experiencing a mental illness of some sort.
Well-constructed and employer-led financial wellness programs can help alleviate some of this pressure, leading to greater happiness and workplace productivity. Financial wellness now plays an essential role in ensuring what we like to call a Quality Employee Experience or QEX for short.