By the time midyear arrives, most organizations have already invested significant time and resources into supporting employee financial wellbeing. Financial wellness programs have been launched, educational resources have been shared, and benefits have been made available.
But one important question often goes unasked: Are these programs actually making a difference?
Many organizations measure participation (for example, how many employees attended a webinar, logged into a platform, or downloaded a resource). While these metrics are helpful, they only tell part of the story. The real measure of success is impact: whether employees are actually building healthier financial habits, making more informed benefits decisions, and feeling more confident about their financial future.
Midyear provides the perfect opportunity to take a step back, evaluate what’s working, identify gaps, and make adjustments before open enrollment and year-end planning begin.
Here are six questions every HR and benefits leader should ask when evaluating their financial wellness strategy:
1. Are You Measuring Participation or Impact?
Attendance numbers and login rates can indicate initial interest, but they don’t necessarily reflect meaningful engagement or long-term behavior change.
Instead of asking:
- How many employees attended our webinar?
- How many people logged into our platform?
Consider asking:
- Are employees returning to use available resources?
- Are they making better financial decisions?
- Has benefits engagement improved?
- Are employees taking action toward their financial goals?
Looking beyond participation metrics helps organizations better understand whether their financial wellness programs are creating lasting value for employees.
2. Do You Understand What Employees Need Today?
Employee financial priorities don’t remain static throughout the year.
Economic conditions shift. Healthcare costs change. Employees get married, buy homes, grow their family, start caring for aging parents, or begin preparing for retirement. A financial wellness strategy that addressed employee needs six months ago may not fully reflect the challenges they’re facing today.
Midyear is an ideal time to gather feedback and reassess workforce needs.
This can include:
- Reviewing employee surveys and feedback
- Analyzing workforce trends and engagement data
- Identifying gaps between utilization
- Looking for opportunities to provide more targeted support
The better employers understand what employees are experiencing, the more effectively they can tailor financial wellness initiatives moving forward.
3. Are Employees Actually Using Their Benefits?
Many organizations offer comprehensive benefits packages, yet utilization often falls short.
The issue isn’t always the quality of benefits themselves. Often, employees simply don’t understand what’s available or how those resources fit into their financial lives.
Take a closer look at programs such as:
- Retirement plans
- Health Savings Accounts (HSAs)
- Flexible Spending Accounts (FSAs)
- Financial coaching
- Student loan assistance
- Emergency savings programs
- Employee Assistance Programs (EAPs)
If participation is low, it may be time to rethink how these benefits are communicated rather than whether they should be offered.
Helping employees connect benefits to their personal goals can significantly improve both engagement and utilization.
4. Is Your Financial Wellness Program Personalized?
Today’s workforce spans multiple generations, life stages, and financial situations. A recent college graduate paying off student loans has very different financial priorities than a parent saving for college or an employee preparing for retirement.
Generic benefits communication (whether it’s webinars, PDF guides, or help articles) simply isn’t enough. Today’s employees expect guidance that is personalized, relevant, and delivered when they need it.
Increasingly, organizations are using AI and digital financial wellness tools to provide more personalized guidance at scale. Instead of asking employees to sort through pages of benefits information, personalized experiences can surface the resources, education, and next steps that are most relevant to each individual’s goals and circumstances.
When employees receive guidance that feels timely and relevant, they’re more likely to engage with available benefits and take meaningful action.
5. Are You Measuring Business Outcomes?
Financial wellness isn’t just an employee benefit; it’s also a business strategy.
A strong financial wellness program can contribute to:
- Higher benefits engagement and utilization
- Greater employee financial confidence
- Reduced financial stress
- Improved productivity and focus
- Stronger retention
- A better overall employe experience
Midyear is a good time to evaluate whether your program is contributing to these broader workforce outcomes.
Rather than measuring activity alone, consider how your financial wellness strategy is influencing employee behavior, engagement, and organizational performance.
6. Are You Ready for Open Enrollment?
Open enrollment may still be a few months away, but preparation starts long beforehand.
Midyear provides an opportunity to identify communication gaps, improve educational resources, and ensure employees have the guidance they need before they’re faced with important benefits decisions.
Organizations that begin preparing early can create a more engaging open enrollment experience by:
- Simplifying benefits communication
- Providing personalized recommendations
- Offering year-round financial education
- Helping employees understand how benefits support their broader financial goals
When employees feel informed before open enrollment begins, they’re more likely to make confident decisions and fully utilize the benefits available to them.
Final Thoughts
The strongest financial wellness programs evolve alongside employees’ needs.
Taking time for a midyear financial wellness check helps organizations move beyond assumptions and better understand what’s working, where employees need additional support, and how programs can be improved before the second half of the year.
By focusing on meaningful engagement, personalization, and measurable outcomes, employers can maximize the impact of their investment in financial wellness while helping employees build greater financial confidence and resilience.
Ultimately, the goal isn’t simply to offer a financial wellness program; it’s to ensure the program creates lasting value for both employees and the organization.