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Unlocking Employee Success: The Case for Financial Wellness as a Critical Benefit

Submitted by Janel Kalish and Jared Schumacker at Third Coast Advisors, a Silver Partner 

 

Janel Kalish Jared Schumacker

In today’s economic climate, employees are under increasing pressure. Only 44% of Americans report being very satisfied with their personal lives—the lowest level in 25 years. With inflation, global instability, and lingering job insecurity, financial concerns are weighing heavily on workers’ minds. Yet, one of the most overlooked areas in employee benefits is also one of the most essential: financial wellness.

The Hidden Cost of Financial Stress

Employees today view wellness holistically—it’s not just physical or mental, but also financial. While employers have embraced mental health support and physical wellness initiatives, financial health often lags behind. This gap matters: Guardian’s research shows that financial stress is a leading source of anxiety. Money worries can disrupt sleep, impact physical health, and aggravate mental health challenges.

The consequences are tangible. Employees under financial strain may skip medical care, postpone important check-ups, and struggle with focus and productivity. In the long run, financial stress becomes a workplace issue, not just a personal one.

Financial Wellness: The Potential Missing Link in Benefits

Most employees agree that good physical and mental health are necessary to live well. However, without a sense of financial stability, it becomes harder to fully utilize even the best health benefits. Financial wellness provides the foundation for greater engagement in healthcare, retirement planning, and overall well-being.

Financial wellness programs help employees build confidence by offering practical tools to manage money, prepare for emergencies, and plan for the future. This isn’t about making employees wealthier—it’s about giving them the confidence to succeed in all areas of life, including work.

Meeting the Needs of a Diverse Workforce

Not all employees experience financial stress the same way. The Guardian study highlights disparities across different groups. Women—particularly single mothers and caregivers—tend to report lower financial confidence. The wage gap, caregiving duties, and systemic inequities make it harder to stay financially afloat.

Gen Z employees, though digitally savvy and optimistic, face unique challenges too. Many entered the workforce during or shortly after the pandemic, with high debt, rising housing costs, and limited income growth. Social media pressures and economic uncertainty compound their stress.

Effective financial wellness programs address these differences. Through personalized coaching, educational workshops, and digital resources, employers can offer targeted support that’s relevant to various life stages, roles, and challenges. Doing so not only helps reduce stress but helps foster a more inclusive and supportive work environment.

The Long-Term Payoff of Financial Guidance

The research is clear: employees who engage with financial wellness resources are more likely to stick to a financial plan and feel more confident about their future. This confidence doesn’t just benefit their personal lives—it spills over into their performance at work. Financially secure employees tend to be more focused, more productive, and more satisfied in their roles.
Over time, organizations that invest in employee financial health often see improved retention, greater engagement, and stronger morale. In times of economic uncertainty, these programs can help stabilize the workforce and build resilience from within.

HR’s Role in Driving Change

Human Resources professionals know that benefits are more than perks—they’re investments in people. Adding financial wellness to a benefits package is a proactive, strategic move that supports employee well-being in a meaningful way.

As the workforce becomes more diverse and multigenerational, a one-size-fits-all approach no longer works. A robust financial wellness strategy signals that the organization understands and values the full spectrum of employee needs. Whether it’s helping a new graduate with student loan planning or supporting a caregiver navigating retirement and healthcare costs, tailored financial support sends a powerful message of care and inclusion.

For HR leaders, especially those navigating tight budgets, financial wellness programs can be a high-impact, low-cost solution. Many offerings are scalable, flexible, and easy to integrate into existing benefits frameworks. They don’t just help individual employees—they elevate the entire workplace.

A Call to Action for HR Leaders

Members of GMA SHRM are in a unique position to lead this shift. As stress, financial strain, and uncertainty rise, now is the time to champion a more holistic benefits approach. Financial wellness is not just a “nice to have”—it’s a strategic imperative for building a resilient, motivated workforce.

Start by evaluating your current offerings. Are they truly meeting employees where they are? Could financial coaching, literacy programs, or budgeting tools make a meaningful difference?
By prioritizing financial wellness, you’re not only helping employees feel more secure—you’re unlocking their potential. A workforce with less financial stress is more engaged, more productive, and more loyal.

Incorporating financial wellness into your strategy is a simple yet powerful way to show employees they matter—and when people feel supported, everyone wins.

Download the 2025 Guardian Mind, Body, Wallet report: https://www.guardianlife.com/reports/mind-body-wallet
(Guardian, 2025)

Unless otherwise noted, all data is sourced from Guardian’s 14th Annual Workplace Benefits Study, 2025.

Material discussed is meant for general informational and educational purposes only and is not to be construed as a recommendation or advice. The information should be relied upon only when coordinated with individual professional advice.

Janel Kalish, CFP & Jared Schumacher are Registered Representatives and Financial Advisors of Park Avenue Securities LLC (PAS). OSJ: 1166 QUAIL CT., SUITE 100, PEWAUKEE WI, 53072, 262-746-9270. Securities products and advisory services offered through PAS, member FINRA, SIPC. Third Coast Advisors, Inc. is not an affiliate or subsidiary of PAS or Guardian. Third Coast Advisors, Inc. is not registered in any state or with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. 8080742.1 exp. 06/27

 

August Professional Development Summit 

August 19,  2025
Alliant Energy Center

The Certification Committee is pleased to announce we’re launching a certification scholarship program, in partnership with the Wisconsin Small Business Development Center (SBDC) at UW-Madison. Four $500 scholarships will be awarded annually (two for the fall class, two for the spring). GMA SHRM will be sponsoring two of these, while the SBDC will sponsor the other two. Scholarship recipients will receive a $500 discount on the prep class. Please see additional information here, including how to apply: https://www.gmashrm.org/CertificationScholarship.

Any certification questions can be directed to our Director, Certification – Shanae Doerr, SHRM-CP  shanae.doerr@gmail.com


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2025 Virtual Roundtables Open for Registration!

Workforce Readiness, College Relations, Diversity & Inclusion

Congratulations to these members celebrating milestone anniversaries!