Canadians are among the world’s most financially literate people; however, knowledge does not always translate into behaviour. Many Canadians struggle with high debt and insufficient savings for retirement, which leads to stress that can affect their productivity. As a result, many organizations are looking to expand or improve their financial wellness programming.
In the spring of 2017, The Conference Board of Canada surveyed 161 Canadian organizations on the factors that affect the financial wellness of employees, how financial wellness affects workplace productivity, and what employers can do to improve employees’ financial wellness.
This report looks at the state of financial wellness programming in Canadian organizations. It explores the tools and initiatives organizations are implementing, as well as the communication methods they use to disseminate information. The report also discusses best practices, challenges, programming outcomes, and next steps for organizations looking to strengthen their financial wellness programming.