Whether it’s managing day-to-day expenses, planning for retirement, or handling rising healthcare costs, money remains the leading source of stress for employees.
Offering financial wellness can create a stronger, more engaged workforce and help prevent money stress from becoming a reason people leave.
In a 2023 survey by PwC, 73% of financially stressed employees said they would consider another employer that cared more about their financial well-being. That’s a clear signal to HR and benefit leaders that financial wellness should be prioritized.
Here’s what impact can look like. A mid-level employee gets a strong performance review with a pay increase. They’re thriving at work and adding value. But a few months later, they resign. Not because of the role or the culture, but because financial stress caught up with them, and they didn’t see support as an option.
Now imagine if that story ended differently. Helping your team navigate real-life money challenges is one of the most powerful and underused ways to retain top talent and build lasting loyalty.
Why Financial Stress Hurts Retention
When your employees struggle with financial stress, it affects how they think, focus, and perform. And over time, it can contribute to turnover
Here’s what that looks like in real terms. In early 2025, over 3 million Americans were leaving their jobs each month, according to the U.S. Bureau of Labor Statistics. Financial pressure, rising living costs, and limited support continue to drive those decisions.
The good news? When employees feel financially secure, they’re far more likely to stay, grow, and thrive right where they are.
READ MORE: Reasons Why Financial Wellness is a Must-Have Benefit
Financial Wellness as a Retention Strategy
Most companies offer traditional benefits like health insurance, retirement plans, and PTO. These are expected, and yes, they matter. Addressing money stress as part of your benefits package can show you are going beyond the basics to support employees.
An effective financial wellness program should go beyond a one-time budgeting workshop. It can give employees ongoing support with real-life money issues like debt, savings, credit, and planning. And just like a strong health plan, it can be a core part of how companies support total well-being.
A best-in-class financial wellness program gives employees the support they need to feel confident about their money, both day-to-day and long-term. The strongest programs combine personalized guidance with practical tools. That might look like
- One-on-one coaching with certified financial professionals
- Digital resources employees can access any time
- Live workshops that are tied to real-life moments like managing debt or preparing for a baby.
The most impactful programs also connect with other benefits already in place, like EAPs and HSAs, creating a seamless experience.
Role of Financial Wellness Programs
The role of financial wellness is not just about components, it’s about outcomes. Strong financial wellness programs can:
- Help employees make informed decisions about debt, savings, and daily expenses
- Build employee confidence through education and personalized support
- Reduce money-related distractions that lower productivity
- Show employees you care, increasing loyalty and employee retention
Financial wellness program benefits show up fast. Employees who feel financially supported are less stressed, more focused, and more likely to stay. Over time, they’re better prepared for life’s big moments, such as buying a home, starting a family, or retiring on their terms. That stability creates loyalty.
Your Money Line makes financial wellness simple. We give your employees smart tools and personalized guidance they’ll actually use and support that helps them stay focused, less stressed, and more likely to stick around.
The ROI of Financial Wellness: Data and Case Studies
At Your Money Line, we’ve seen firsthand how financial wellness programs impact retention.
For example, Triad Financial Services employees who were struggling with financial anxiety began using one-on-one coaching and personalized tools.
With consistent, collaborative effort from Triad’s HR team and Your Money Line, employees regained their confidence, reduced stress, and had higher engagement across the organization. HR leaders reported that employees felt supported and more connected to their workplace.
These outcomes are also backed up by industry data. According to a study in the Journal of Behavioral Sciences, financial stress contributes to turnover intent amongst disengaged employees, and companies that address it see measurable results.
Furthermore, SHRM reports that employers who offer financial wellness programs experience higher employee satisfaction and lower turnover.
Practical Steps HR Teams Can Take to Build a Retention-Driven Financial Wellness Program
You don’t need to overhaul your entire benefits package to make a real impact. Small, targeted moves can lead to major gains in retention, especially when they’re focused on improving employee financial well-being.
Here are three practical steps your HR team can take to get started:
- Assess current needs: Start by understanding where your employees are financially. Use anonymous surveys, feedback forms, or even quick pulse checks to learn what’s causing the most stress. Is it debt, savings, budgeting, or something else? This helps you prioritize support where it’s needed most.
- Choose the right tools: Not every employee needs the same solution. Offer a mix of support, like timely financial education workshops, a mobile app, or one-on-one. Opt for programs that are easy to use and integrate with your existing benefits.
- Communicate and track: A great program won’t matter if no one knows about it. Promote your resources through onboarding, emails, manager toolkits, and regular check-ins. Then measure usage and gather feedback to see what’s working and adjust if needed.
By staying focused on what employees actually need and creating space for feedback, your HR team can build a financial wellness program that supports retention from day one.
Common Mistakes to Avoid
Even well-intentioned financial wellness programs can miss the mark. Here are a few common pitfalls and how to avoid them.
One-size-fits-all Solutions
Offering the same tools to everyone ignores the range of financial situations in your workforce. Avoid this by offering flexible options like a 24/7 money dashboard, personalized guidance catered to employees’ unique situations, and workshops tailored to different life stages.
Lack of Follow-through or Engagement
Rolling out a program and never revisiting it leads to low usage and wasted resources. Avoid this by building in regular touchpoints like emails, reminders, and manager involvement, to keep it top of mind. Tip: Find a partner like Your Money Line who thinks of all of these things for you so you don’t have to!
Focusing Only on Long-term Goals
Saving for retirement is important, but it won’t help employees living paycheck to paycheck. Avoid this by balancing your program with support for immediate needs like budgeting, emergency savings, and debt management.
Retention Starts with Financial Wellness
Financial stress, often overlooked, is one of the biggest drivers of turnover. When you invest in financial wellness, you’re empowering your team with the essential tools to stay focused, feel supported, and commit long-term.
This leads to lower turnover, stronger performance, and a more resilient workforce.
Your Money Line helps companies reduce employee stress with personalized financial coaching, smart tools, and proven programs that drive retention. We make it easy to support your team with real solutions that work.
Ready to improve retention with financial wellness that actually delivers?
Contact us today for a personalized walkthrough and see how Your Money Line can support your team.
