The financial wellness program market is anticipated to witness the fastest growth rate over the forecast period. This program is a solution that help organization offer their employees with best financial practices including alleviating monetary stress, planning, and budgeting. It educates employees regarding personal monetary risk like loss of income owing to premature illness or death and offer digital tools to manage those risks, thus, escalating industrial growth. Popular economic wellness programs comprise cash flow management and budgeting tools, debt management services, financial counseling and coaching services, retirement planning assistance, short-term loan and accrued wage advances, women and financial wellness, and healthcare costs. Drivers Rise in monetary stress among employees that would further affect overall organization retention strategy and growth along with succession planning. Thus, employers introducing novel economic wellbeing plans that can support employee’s services to manage their financial goals will show a positive impact on overall business growth in the forecast period. This, in turn, will enhance organizational commitment and employee engagement. Access "122" page research report with TOC on "Financial Wellness Program Market" available with Radiant Insights, [email protected] https://www.radiantinsights.com/research/2013-2028-report-on-global-financial-wellness-program-market Rising strict government regulations for maintaining strong monetary health across the globe will propel industry growth in the forecast period. For instance, The Consumer Financial Protection Bureau and Center for Financial Services Innovation are researching how inactive organizations are maintaining peer-to-peer relationships as well as finding high-impact ways to encourage financial wellness at workplace and supporting proprietors. Restraints The factors such as lack of awareness among employees regarding the benefits of economic wellness agendas and data privacy concerns among employees will hamper overall industry growth. In addition, in developing countries like India and Indonesia, several organizations are not supporting the economic struggles of employees that may be constraining the growth of industry. Financial wellness program industry is categorized based on type, application, sales channel, and regions. Based on type, the industry is categorized into for employees and employers. Based on applications, the industry is categorized into small and medium enterprises (SMEs) and large enterprises. Based on the sales channel, the industry is categorized into a distribution channel and a direct channel. Geographically, the industry is categorized into Middle East & Africa, North America, South America, Europe, and Asia Pacific. North America is expected to remain dominant over the projected period on account of rising importance of monetary wellness among populace. The U.S. and Canada are the major consumers in this region owing to rising number of organizations offering economic wellness plans to increase employee retention and engagement. In addition, players in the U.S. are creating new opportunities for all employees and allow career advancement. For instance, the CFP series of programs are offered by Korving & Co. to educate employees regarding retirement income, investing, and debt planning. The industry in Canada is evolving at a rapid pace. For instance, the Financial Consumer Agency of Canada offers several enhanced educational tools, materials, and support to help adults and students to polish their monetary skills and knowledge. Prominent players of the financial wellness program market include Interface, Mercer, PayActiv, Fidelity, SmartDollar, Prudential, Prosperity Now, Morgan Stanley, KeyBank, Bridge Credit Union, Enrich, Health Advocate, Financial Fitness Group, My Secure Advantage (MSA), Your Money Line, Edukate, Wellable, and BrightDime. These players are continuously focusing on the development of new consumer favorable economic wellness plans. For instance, Mercer has developed a program that focuses on guiding employees to reach their goals for every stage of their “monetary lives”, whether it’s saving for retirement, house, college, or a car
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