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Financial Wellness Insights

Helping employees around the world get the most from what they have now, while saving enough for the future

Financial Wellness at work

Employers are increasingly focused on employees’ Financial Wellness. Employees, saddled with debt and the task of saving for both health care and retirement, are looking to their employers for support. They want to understand their whole financial picture, from borrowing to saving, budgeting and beyond. Fidelity’s Financial Wellness focuses on the four key areas of expenses, debt, savings and protection, in order to make it easier for people to look after their money. This means helping employees getting the most from what they have now, while saving enough for the future.

Employees who are confident in their finances are likely to be more motivated and engaged at work. Research shows that financially stressed employees are less likely to be physically or mentally present at work, with clear implications for productivity1. In the US, over one-quarter of employees admit financial issues distract them on the job, and 17% of workers say financial distress impairs their productivity2. In the UK, an estimated 17.5 million working hours that are lost every year as a result of employees taking time off work due to financial stress3. In Hong Kong, 13.4% and 4.4% of workers over 35 report feeling ‘quite’ or ‘very’ financially unstable4.  As a result, improving financial wellness has become a priority for many employers.

Defining Financial Wellness

Fidelity believes that Financial Wellness is holistic and multifaceted: objectively, it is an individual’s total financial situation; subjectively, it is how the person feels about their financial situation.

Fidelity believes that there are four common domains of Financial Wellness, wherever your employees are located across the globe:


Maintaining a budget and positive cash flow are necessary (though not sufficient) precursors to managing debt, saving for the future, investing and protecting against risk.


Managing debt is a key area of Financial Wellness. Too much debt can be a considerable barrier to savings. While all debts pose a burden on financial resources, not all debts are created equal.


Savings and investing is an important area to focus on for long term financial wellness. Saving and investing may be for short-term expenses and also long-term goals, such as retirement.

Read more about Fidelity’s Retirement Savings Guidelines.


Protecting and insuring against potential losses is another important area. Without adequate emergency savings and/or financial protection one’s financial situation can go from comfortable to distressed very quickly.



For the employee - tools & guidance

At the heart of Fidelity’s Financial Wellness offering is an interactive personal money check-up tool that takes employees through a series of questions, both personal and financial.


Money Check Up Tool

Fidelity’s bespoke money checkup tool builds a personalised picture of your employees’ financial health. It then offers tailored content, tools and tips to help them improve their overall financial well-being.

The guidance and suggested action plan is different for each user group – from Millennials having to make first-time decisions to people managing day-to-day expenses to those who are financially established.

In addition, employees will benefit from guides and tailored content.

Financial Wellness in Action

To see Financial Wellness integrated as part of Workplace Investing Employee Experience in different regions.

For the employer - Robust metrics

Lack of Financial Wellness in employee populations is a large-scale challenge globally - and therefore requires large-scale solutions. Developing and testing the effectiveness of solutions requires an empirically-sound and operational approach. Fidelity believes a Financial Wellness metric should have the following characteristics to achieve maximum impact:


  • Global consistency: Metrics should be consistent globally, so that insights for employers are available across the workforce, wherever employees are located. This enables analysis of both global and local trends, and supports tailored programmes.
  • Quantitative and precise: Improvement at scale requires a methodology that establishes baseline levels and tracks the degree and nature of changes over time, with high precision.
  • Comprehensive, yet specific: Understanding individuals’ overall level of wellness (or distress) is key to identifying those in need of assistance; understanding the specific domains in which they are struggling is key to providing the right type of assistance. Comprehensive assessments of Wellness are also critical because interventions might improve some areas of wellness but not others.
  • Clear and actionable: Metrics should be understandable and yield constructive insights for employers about which areas of their employees’ financial lives require more focus.

The opportunity for employers

Fidelity is in the midst of quickly changing financial times. Workers face a multitude of competing financial demands and are unsure of how to prioritise them or of which steps to take to improve their situation.

To decrease the impact of financial stress in the workplace, Fidelity encourages all employers to consider the benefits of deeply understanding the financial state of their employees and supplying the solutions they need to build financial confidence.

As the needs of employees evolve, so must the benefits offered by employers -- in order to drive attraction, retention, engagement, and productivity.

  1. Kim, J., & Garman, E. T. (2003). Financial stress and absenteeism: An empirically derived model. Journal of Financial Counseling and Planning, 14(1), 31.
  2. Mani, A., Mullainathan, S., Shafir, E., & Zhao, J. (2013). Poverty impedes cognitive function. Science, 341(6149), 976-980.
  3. Neyber  (2016) DNA of Financial Wellbeing
  4.  “Retirement planning and the financial situation in old age.” Hong Kong Special Administrative Region Census and Statistics Department. Hong Kong, June 2013, p. 201. 1,153,900 workers surveyed.