Financial illness is crippling America’s workforce
Financial illness is the biggest unaddressed issue impacting employers and employees today. When employees are under constant financial stress, struggling with day-in and day-out financial pressures and urgent needs, everyone pays. Financial wellness can’t treat financial illness. Brightside Financial Care does.
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Employers lose $3K-$4K per employee due to financial illness every year
2X
Financially stressed employees are over 2 times more likely to look for a new job.
Source: Salary Finance
16 Days
Financially stressed employees miss an extra 16 days of work per year, on average.
Source: WTW
30%
Financial stress adds 30% to U.S. healthcare costs.
Source: “Poverty and the Myths of Health Care Reform” by Richard Cooper, MD
71%
71% of Americans say money is their biggest source of stress.
Source: CreditWise
When employers help financially ill employees, everyone benefits
Financial illness erodes employees’ physical and mental health, disrupts sleep and relationships, and destroys quality of life. Employees burdened by financial stress bring it to work each day, impacting their employer’s brand image, customer experience, and workplace culture.
When you help financially ill employees, you’ll lower healthcare costs, improve retention and productivity, and see more impact from your investments in other benefits. But you have to think beyond financial wellness.
“We realized no solutions treat financial illness - except Brightside Financial Care.”
Justin Roberts, Amazon Sr. Manager, Financial Benefits
Financially ill employees have complex challenges that cannot be solved by CFP-led financial planning or one-size-fits-all financial education.
They need real solutions from someone on their side, who won’t judge their situation and won’t make money from their choices. That’s Financial Care.
Financial Care delivers results financial wellness can’t
Employers including Amazon and Unum see measurable results when their employees use Financial Care:
$1, 200 average back in the pockets of their employees who engage
41% reduction in employee turnover
34% reduction in employees with subprime credit scores
80% reduction in employees not contributing to 401(k)
50% of engaged employees began saving from every paycheck
36+ more hours worked per year, per employee
Employee results that are more than the numbers
“I am crying at this moment because I didn't know any other way out. My Financial Assistant just made things much clearer for me.”
Medical Assistant, Hospital System
“I have food for tonight, diapers coming, and food for the weekend. I’ve never been so happy. I’m in awe at how amazing this company and the employees are!"
Field Technician, Telecom company
“[My Financial Assistant] has helped me with everything under the sun. Not once have I felt judged, stupid, or rushed.”
Fulfillment Center Associate
Fortune 10 Retailer
