There are several types of Employee Financial Wellness Programs (EFWPs), such as workplace financial counseling, workplace credit building, and employer-sponsored small dollar loans. Each program benefits the company and its employees in different ways. Washington University researchers, with generous support from the W. K. Kellogg Foundation, studied the implementation of EFWPs at several diverse organizations, including a nonprofit in the Midwest and several supply chain locations of a national retailer, to understand the impact. As a result, we’ve identified five ways in which providers can maximize the benefits of EFWPs and avoid pitfalls along the way.
Project: Employee Financial Wellness Programs
Citation
Hampton, J., Wolter, S., Fox-Dichter, S., & Frank-Miller, E. (2020). Employee financial wellness programs: Tips for providers. (SPI Practice Brief No. 20-02). Social Policy Institute at Washington University in St. Louis.
This work was originally published by scholars with the Social Policy Institute at Washington University. The Institute integrated with the Center for Social Development in January 2025.