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According to PwC’s 2016 Employee Financial Wellness Survey, 37% of Millennials say that issues with personal finances have been a distraction at work. Across the entire workforce, 46% of workers spend three or more hours during the workweek taking care of financial issues and 8% say it impacts their attendance as they struggle with credit card debt, student loans, and child and elder care expenses, among other things.
With financial stress causing an organization with 1,000 employees an estimated $5 million a year, financial wellness benefit programs are growing in popularity and their return on investment is proving to be positive.