Data and Measuring Financial Literacy

How to Collect and Use Data to Improve Workplace Financial Wellness

Data can be a powerful resource to guide decisions on selecting and improving financial wellness programs in your workplace. But data can also be easily misused or misunderstood. The first step in leveraging data in the workplace is to make sure you are using the right information. Click here to read more of this Prosperity Now article. 

The PFW Scale™ is an effective metric to measure employees progress as they participate in a financial wellness program. Click here to learn how your organization can benefit by using the Personal Financial Wellness Survey™

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. For more of the SHRM's article, click here.

The PFW Scale™ provides management with a simple way to evaluate employee financial stress. Fill out the Service Request Form to use the Employee Survey and PFW Scale™ at your business!
Personal Financial Employee Education Fund (PFEEF)
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