Dive Brief:

• Noodles & Company will introduce new financial wellness resources for its employees. Partnering with Even.com, it will offer a suite of tools that promote financial wellbeing starting Sept. 25. The offerings include an option for immediate pay as well as budgeting and saving tools.
• The additional new benefit is aimed at helping workers at the company's 450 nationwide locations "establish financial wellness and literacy," according to Noodles & Company VP of HR Sue Petersen. Its 10,000 workers will have mobile access to tools that can help them save, organize and budget their money for better financial management, the company said. 
• Initial testing of the program has been positive, Noodles & Company said. Some employees said the tools encouraged them to save money for the first time as adults. The company said it believes this addition to their overall Life@Noodles benefits program will help the chain attract and retain talent. 

Dive Insight:

Many workers want assistance with their financial planning and well-being. About a third of respondents in a National Business Group on Health poll said they want help with financial health and planning from their employers. Many workers, particularly those with educational debt, report having money problems. In fact, money is a major problem for 80% of workers, according to a report from Ceridian, and these problems can follow employees to work. A 2018 report from Fidelity Investments showed that workers with the highest amount of debt reported twice the absenteeism compared to those with the lowest amount of debt.

It follows that when organizations provide assistance they not only help their staff, but they also help their bottom lines. A Commonwealth report revealed that companies providing savings options see a reduction in financial stress and a boost in productivity among lower-wage workers.