Employee Financial Wellness Survey

The NFEC’s annual employee financial wellness survey quantifies the feelings of workers as related to their personal finances. Each year, the data are updated to provide greater insight into the connection between a person’s financial situation and his or her employment.

Results of this survey demonstrate that personal finances have an impact on people at work. Of the over 2,000 respondents to the survey: 55.2% would be more content with their salary if their finances were in better shape, 53.5% would be more productive at work, 44.9% would have a more favorable opinion of their employer if they offered financial wellness programming and almost 1/3rd (31.4%) said they would attend a financial education program if their employer offered.

The NFEC is committed to conducting financial literacy research to illuminate the connection between financial literacy levels and income. The initial survey results are being collected as part of a research project and to share with others in the financial literacy industry.

Survey Results

Would you have a more favorable opinion of an employer that provided personal finance education training?
(500 respondents)

44.9%

44.9% responded ‘Yes’

55.1%

55.1% responded ‘No’

Would you be more content with your salary if other areas of your personal financial situation improved?
(501 respondents)

55.2%

55.2% responded ‘Yes’

44.8%

44.8% responded ‘No’

Would you be more productive at work if your personal financial situation were more secure?
(503 respondents)

53.5%

53.5% responded ‘Yes’

46.5%

46.5% responded ‘No’

If your employer offered personal finance education training at your workplace, how interested would you be in attending?
(502 respondents)

31.4%

31.4% responded ‘Very Interested’ or ‘Somewhat Interested’

18.5%

18.5% responded ‘Neutral’

50.1%

50.1% responded ‘Not Interested’ or ‘Not Interested at All’

Financial Background Check in Workplace Surveys

The NFEC’s commitment to conducting employee financial wellness surveys to illuminate the connection between income and personal finance. The initial survey results are being collected as a part of a project and to share with others in the financial literacy industry.

In the most recent employee financial wellness survey, conducted between August 15th and 17th 2017, 501 small/medium business owners and managers across the United States were asked, “Has your company conducted a credit or financial background check as a condition of hiring or giving a promotion?” The results indicated that 25.9% answered “Yes.”

The results of this business owner survey align with a 2016 survey where NFEC asked employees, “Has an employer or potential employer ever conducted a credit or financial background check as a condition of hiring you or giving you a promotion?” Of the 1,100 respondents 26.3% answered “Yes”. In 2 past surveys, the NFEC asked 3,514 individuals, “Have you ever been turned down for a job or promotion as a result of your credit or financial background?” 4.08% answered “Yes” those aged 18-24 and 45-54 reporting over 5%.

Survey Question

Has your company conducted a credit or financial background check as a condition of hiring or giving a promotion?

0
Participants

The Results

25.9%
0

Respondents Answered “Yes”

74.1%
0

Respondents Answered “No”