6 Ways to Measure the Success of Financial Wellness Efforts

Financial wellness programs, such as those that promote savings and teach household budgeting skills through online or group instruction, are proliferating as employers invest in efforts to help workers manage their finances. However, only 30 percent of employers measure the effectiveness of these offerings, according to a 2018 study of 657 employers conducted by Bank of America Merrill Lynch. Without those measurements, employers may be missing out on opportunities to improve these benefits and may not even have a clear idea of what they want to achieve by offering them, such as reducing employees' money-related stress so they can be more productive at work.