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Financial Wellness: You could be someplace better

In the Lincoln Financial Group study, You are here: Understanding financial wellness, retirement readiness and plan health, plan sponsors reported that employees need financial education, and they believe instituting a financial wellness program leads to improved job performance and increased employee loyalty. The industry defines “financial wellness” as a program of financial topics delivered through multiple channels to help people minimize their financial challenges. Financial wellness is aspirational, and the path to wellness for participants involves setting reasonable goals and taking positive steps forward.

As financial wellness programs become more prevalent and significant over the next few years, we anticipate closer alignment with health and wellness programs. New service providers and program opportunities are rapidly emerging.

Best practice considerations:

  1. Talk with your retirement plan provider, advisor or consultant about available financial wellness resources.

  2. Survey participants and build programs based on topics of highest interest, deepest need and greatest likelihood of success.

  3. When implementing a new program, start small and gradually roll out new elements to the program.

  4. Connect financial wellness delivery to health program delivery to make the most of employee time and attention spans.

  5. Offer programs to all employees, not just plan participants. Include one-on-one and group meetings and webcasts during, before and after work, at lunchtime, and over weekends to accommodate employees. Encourage employees to bring spouses and partners, and make meetings mandatory for high-impact topics. 

To learn more about this research or to begin developing your organization’s action plan toward optimal plan health, please get in touch by calling (800) 388-1963 or e-mail us at

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