Many companies might say they care about employee financial wellness, but what they mean by that, and what they actually offer, is all over the map. It's high time that employers start to Implement employee financial wellness programs because according to PwC’s 2023 Employee Financial Wellness Survey, 60% of full-time employees are stressed at work, and finances are the number one cause of stress.

For many employers, investing in financial wellness programs is becoming part of a broader commitment to employee well-being. They understand that when people are financially stressed, their productivity drops, engagement falls and turnover rises. Financial wellness isn’t just about saving for retirement — it’s about how people are feeling today and what they’re doing to manage financial stress, especially in the paycheck-to-paycheck population. Employee financial health is foundational to overall worker well-being and business performance.

What employers are doing to address financial wellness 

Despite the growing awareness of financial stress in the hourly workforce, employers still struggle to offer benefits that meaningfully address the problem. Most programs lean heavily toward long-term planning, such as retirement savings, while hourly workers are facing urgent, day-to-day cash-flow challenges that those programs simply can’t address.

Here are a few of the ways employers are addressing financial stress in the workplace: 

1. Emergency savings accounts (ESAs) / Rainy-day funds

Some employers now help employees build short-term savings through:

• Employer-matched emergency funds that allow employees to build up accessible funds for unexpected expenses (e.g., car repair, medical bill, unexpected shift cut)
• Automatic Payroll Deduction Savings — employers create programs where a portion of an employee’s pay is automatically allocated into a savings vehicle (often post-tax) designed for either short-term or mid-term goals.

These aim to prevent the type of crises that lead to absenteeism or frequent turnover.

2. Expanding access to financial coaching and education

Employers may provide budgeting, debt management and credit-building programs. However, usage is often low among hourly employees unless paired with tools that address immediate cash flow, like on-demand pay.

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3. Enhancing pay and scheduling stability

Many employers are trying to reduce variability in weekly hours, offer more predictable schedules and raise base pay where possible. Providing more scheduling stability lowers financial stress, especially for hourly workers.

4. Providing short-term loans or pay advances

Some employers offer small dollar loans or interest-free advances to help cover emergencies. These programs are often paired with financial education or savings incentives.

5. Offering Earned Wage Access (EWA) and pay flexibility

One of the fastest-growing financial wellness solutions today, EWA helps employees manage day-to-day expenses by giving access to already-earned wages before payday. Employers adopt EWA because it reduces financial stress immediately, something retirement plans can’t do!

Many solutions fall short for hourly workers

Most employer-sponsored benefits, including retirement plans, investment tools, debt management programs, and education resources, are designed for long-term financial health and are focused on the future, while hourly employees are struggling with today because they face:

• Unpredictable schedules
• Variable hours and fluctuating income
• High exposure to emergencies (car repairs, childcare, medical bills)
• Reliance on payday loans, overdrafts and high-cost fees
• Limited savings or safety nets

When an employee is worried about making rent, buying diapers or paying for gas to get to their shift, a budgeting webinar or 401(k) match doesn’t help much. Their barrier is timing and their problem is liquidity, not lack of retirement planning.

This mismatch between what employers offer and what employees need creates a persistent, costly cycle of stress, absenteeism and turnover, particularly for hourly populations.

How Rain addresses the gap between what employers offer and what employees need

Most employers want to help employees improve their financial health, but traditional benefits focus on long-term goals and solutions, while hourly workers are struggling with short-term cash-flow challenges that affect today. Rain fills this gap by delivering immediate financial stability, which is the one thing no other benefit reliably provides. 

Rain begins by solving the root problem behind most financial stress, and that’s timing. Bills, emergencies, childcare costs, groceries and transportation issues don’t wait for payday. With Rain, employees can access wages they’ve already earned the moment they need them, giving them control where they previously had none.

This single shift changes everything. Workers who once relied on payday loans, overdrafts and  high-cost credit now have a safe alternative. And employers quickly see the downstream effects, which include fewer absences, stronger engagement, more reliable staffing and improved retention. When people aren’t consumed by financial stress, they can show up more fully, both at work and in life.

Rain is uniquely positioned to do this without burdening the employer. With Rain, the employer remains in full control of payroll, while requiring minimal operational lift:

• No bank redirects or FBO accounts
• No paycheck delays
• Clear, simple payroll deductions
• A clean, transparent paystub that matches the employee’s payroll deposit

This reliability is why Rain achieves a near 100% uptime and has never caused a delayed paycheck. Employers get the benefits of offering EWA without the complexity that other EWA models often introduce.

Rain also builds trust with employees because it is designed to be responsible and transparent. Workers always have a free ACH option, clear visibility into their earnings and an intuitive app that updates in near real-time. Rain collects the least amount of personal data of any EWA provider, ensuring privacy and reducing employer risk. The program is easy to understand, easy to use and easy to rely on — exactly what hourly workers need.

Rain is the foundation of a modern financial wellness strategy, the piece that supports today’s needs while enabling the fulfillment of tomorrow’s goals. With Rain, employers aren’t just offering a benefit, they’re providing the stability employees need to thrive.

Want to offer a financial wellness benefit that shows you understand the plight of your hourly employees? Schedule time to speak with one of our experts today.