Measuring financial wellness and the benefits of better data on employee finances – this is how understanding employee financial health benefits both employer and workers

Want to build more resilient, loyal teams?

Traditional HR metrics like attendance and churn remain important, but it’s time to start measuring something more fundamental: your employees’ financial health.

Financial wellbeing affects every area of workplace performance — from focus and reliability to morale and retention. And yet, most HR teams still don’t have a clear way to track or support it.

That’s changing. With the right data, employers can uncover the root causes of financial stress — and design support that’s not just reactive, but human-centred and effective.

These are the insights into better understanding employee financial health:

 

What is Employee Financial Health?

Employee financial health goes beyond how much someone earns. It’s about whether they feel stable, confident and in control of their financial situation. A financially healthy employee can meet their monthly expenses without panic, is free from the burden of unmanageable debt, and has access to funds in case of emergencies. They also have a sense of security about their future and the ability to plan for it.

When employees are financially healthy, the benefits ripple outward. They’re more likely to remain in their roles, stay focused during shifts and participate fully in workplace opportunities.

Financial well-being is a foundational layer of job performance. Without it, even the best HR strategies can fall short. See the link between financial stress and productivity.

 

How Is It Measured?

Unlike traditional HR metrics (like absenteeism or attrition), financial health requires more nuanced, people-focused data. Leading frameworks consider the following:

• Income vs expense gaps
• Level of savings
• Debt burdens (especially short-term loans)
• Access to credit
• Self-reported stress and financial confidence

Surveys, confidential check-ins or digital diagnostic tools can all help reveal these stressors — especially when combined with behavioural signals like high loan usage, frequent advance requests or skipped shifts due to transport costs.

The goal isn’t surveillance. It’s support — using insight to guide action.

 

The Benefits of Measuring and Acting on Employee Financial Health Data

Understanding your workforce’s financial health empowers HR teams to act earlier, more precisely and with deeper impact. When data uncovers the real financial stressors affecting your team, it becomes easier to respond with solutions that work — for the individual and the business.

Smarter Interventions

With real data, HR teams can go beyond guesswork. You can identify whether the root problem is a savings gap, high debt or lack of credit access. And then you can introduce the right support. Instead of defaulting to generic financial training or wage increases, companies can offer targeted tools that solve the issue at its source.

Lower Absenteeism

When workers are no longer stuck in short-term financial crises (like borrowing for transport or scrambling for emergency expenses) they’re more likely to show up for their shifts and focus while they’re there. Reduced stress leads to improved attendance and fewer unexpected absences. See how Jem helped Mukuru reduce absenteeism.

Improved Retention

Employees who feel financially supported and empowered are less likely to leave. Stability encourages long-term thinking, which makes workers more likely to engage with internal growth opportunities, upskilling, or promotions — all of which strengthen the company’s culture and output. Use the employee turnover savings calculator.

Reduced Admin

When financial stress is high, HR teams bear the brunt — through a constant stream of payroll queries, informal advance requests and burnout-related issues. Addressing financial health reduces this burden, giving HR teams time to focus on strategic initiatives, not crisis management. See how Jem saves Prosec R120k per week on admin.

Stronger Employer Brand

Offering real, human-centred support for employees’ financial well-being sends a powerful signal. It says your company understands the challenges workers face, and that you’re committed to helping them build better lives. This enhances employer reputation, especially in industries with high churn and competition for talent.

 

Jem’s Financial Health Survey

Based on insights from over 150,000 deskless workers across South Africa, Jem is developing a Financial Health Survey to help companies measure what truly matters. This diagnostic tool will offer:

• A quick, WhatsApp-based assessment to measure employee financial wellness
• Aggregated, anonymised insights for HR teams to understand workforce-wide trends
• Guidance on matching specific challenges — like debt, budgeting or lack of credit — to practical, zero-cost solutions

The survey will build on the foundation of Jem’s Financial Health Plan, which already provides:

• Earned Wage Access (EWA)
• Credit-building savings accounts
• WhatsApp-based financial education
• Real-time support from trained financial coaches

 

This survey is about taking the next step: using data to offer targeted, effective support that improves financial health across the workforce — and business performance along with it.

Want to be part of the first wave of employers to improve financial wellness at work?
Get in touch to learn more about Jem’s Financial Health Survey.