Confidence as a cornerstone of financial wellness
Explore financial wellness strategies for your business.
Download the full reportStrategies to support the employee experience and employer outcomes.
Important information: This information is for scheme sponsors’, trustees’, their advisers’, and consultants’ use only and should not be relied upon by individual investors.
Explore financial wellness strategies for your business.
Download the full reportIn an environment marked by increased cost pressures, talent market challenges, emerging technologies, and sustainability goals, we understand the complex challenges HR and benefits leaders face in meeting the diverse needs of their employees across geographies and demographics.
By supporting employee financial wellness within their benefits strategies, employers can not only take action to meet the complex needs of their employees but also to potentially drive positive business results in today’s dynamic global landscape.
Our Global Employer Survey indicates a growing recognition of the importance of supporting employees holistically. Of the senior leaders we asked, 73% said feel very or extremely responsible for their employees’ financial wellness, indicating a growing recognition of its importance.
Our research presents a compelling case for employers to consider broadening their definition of financial wellness as a means to achieving their desired talent outcomes (i.e., increased employee satisfaction, decreased employee turnover).
It also shows that financial confidence and knowledge are key drivers in strengthening employee financial wellness.
To help employers, we’ve identified four starting points to support employees with building knowledge and confidence with the aim of improving the employee experience and employer outcomes.
Sarah Raposo, Ph.D, Director, Behavioral Research Fidelity Investments
Assess whether parts of your workforce are falling short in key areas of financial wellness to provide targeted help
Build financial confidence across those groups with small steps, small wins, and encouragement
Consider offering and promoting benefits employees need to boost financial wellness (like emergency savings)
Build social support for financial decision-making through employee resource groups
To find out more about financial wellness trends globally and across regions, please read the full report.
The Fidelity Global Sentiment Survey was fielded to more than 37,000 working adults across 34 international markets. The sample consisted of respondents with the following qualifying conditions: aged 20-75, employed full-time or part-time and had a minimum household income of: Argentina: ARS $3,000,001 annually; Australia: AUD $45,000 annually; Brazil: BRL $1,501 monthly; Canada: CAD $30,000 annually; Chile: 3,000,001 CLP annually; China: CNY ¥5,000 monthly; Colombia: COP $7,000,001 annually; Denmark: DKK Kr.100,000 annually; France: EUR €20,000 annually; Germany: EUR €20,000 annually; Hong Kong: HKD $15,000 monthly; India: INR ₹55,001 annually; Kuwait: KWD د.ك 6,000 annually; Republic of Ireland: EUR €20,000 annually; Italy: EUR €15,000 annually; Japan: JPY ¥1.5m annually; Mexico: MXN $4,500 monthly; Netherlands: EUR €20,000 annually; Nigeria: NGN ₦1,000,000 NGN annually; Philippines: PHP ₱10,001 monthly; Poland: PLN zł20,000 PLN annually; Saudi Arabia: SAR ر.س.4,000 monthly; Singapore: SGD $2,000 monthly; South Africa: ZAR R20,000 annually; South Korea: KRW ₩1.0m monthly; Spain: EUR €15,000 annually; Sweden: SEK kr200,000 annually; Switzerland: CHF ₣20,000 annually; Taiwan: TWD NT$300,000 annually; Thailand: THB ฿60,000 annually; United Kingdom: GBP £10,000 annually; United Arab Emirates: AED دإ. 5,000monthly; United States: USD $20,000 annually; Vietnam: VND ₫24,000,000 VND annually.
The data collection, research and analysis for the above markets was completed in partnership with Opinium, a strategic insight agency. Data collection took place between June and September 2024. Reporting and analysis took place between August and October 2024. Not all regions were asked about sexual orientation or gender identities (individuals that did not identify as either male or female did not represent a statistically significant sample size and are not presented within this piece).
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