Financial Wellness is more than a paycheck. High student loan debt, low homeownership rates and rising college costs are negatively impacting employees’ financial health.
Increasing Debt
Recent college graduates average $35k in student loan debt - 2x larger than 10 years ago.
Low Homeownership
Home ownership for Americans between 18-39 is at its lowest level in US history (41%).
Insufficient Savings
69% of Americans have less than $1,000 in their bank account.
Uncertain Future
75% of Americans believe it is harder for today's younger generations to achieve a middle class lifestyle.
Attract, Engage and Retain Talent Organizations can gain a competitive talent advantage by offering employee benefits that address financial wellness challenges.
85% of employees believe its important for employers to offer financial wellness programs
75% of student loan holders would prefer to work for an employer that offered a Student Loan Assistance benefit
54% of millennials believe their loyalty to their employer is influenced by how much their employer cares about their financial wellness
Financial Wellness + Financial Incentives Benevate offers a comprehensive financial wellness solution, including financial incentives that help employees address their biggest financial challenges.
- Financial Health Assessment and "Game Plan"
- Financial Account Aggregation
- Financial Wellness Challenges
- Financial Incentives
- Employee Benefit Decision Support
- Telephonic Coaching (Optional)
Down Payment Assistance
One time contribution to help employees with the down payment for the purchase of a home.
Student Loan Assistance
Contributions to pay down the principal of an employee’s student loan debt.
College Savings Assistance
Contributions to help employees save for their children’s college education.
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