Work can be stressful on its own without financial stress looming over employees’ heads due to an unexpected health issue. When someone is worried about making rent, paying medical bills, or covering unexpected expenses, their ability to focus and perform at work takes a hit. In PwC's 2023 Employee Financial Wellness Survey, 57% of employees said that the biggest cause of stress in their lives was finances.
Moreover, financial stress made these employees nearly five times more likely to struggle with their work performance.
Financial stress doesn’t clock out when employees clock in—it follows them through every meeting, project, and deadline. That’s why financial wellness isn’t just about numbers in a bank account; it’s a key driver of workplace productivity.
What’s the solution? According to Paytient’s latest survey, 50% of employees say they’re more productive at work because of Paytient. So, how does financial wellness translate to a more engaged, efficient workforce? Let’s break it down.
Financial Stress at Work: The Silent Productivity Killer
For many employees, out-of-pocket healthcare costs are more than just an inconvenience—they’re a real financial burden. In fact, the Bank of America Institute found that, “over a quarter of households in 2024 so far would be classified as living ‘paycheck to paycheck’. Medical bills can quickly derail an already fragile financial situation and create stress that seeps into every area of life, including work.
When employees are worried about money, it shows up in ways employers can’t ignore:
- Distraction & Absenteeism: Financially stressed employees are more likely to be distracted on the job or miss work altogether.
- Lower Engagement: Stress reduces motivation, creativity, and overall engagement with work tasks. In a study conducted by Paytient, 19% of workplace-insured Americans reported having spent time working second jobs during work hours to make money for healthcare costs.
- Increased Turnover: Employees struggling with financial burdens are more likely to seek jobs that offer better financial support.
Simply put, when employees are financially unwell, their work suffers. When they have financial breathing room, they thrive.
How Paytient’s HPA Drives Productivity & Engagement
Paytient’s Health Payment Account (HPA) is built to solve one of the biggest gaps in employer benefits: affordability. Even with insurance, healthcare costs can be unpredictable and difficult to manage. However, with an HPA, employees get instant access to funds to pay for care without interest or fees. They can then create a repayment plan that works for their budget. As a result, they can afford the care they need, when they need it, without disrupting their finances.
Here’s how Paytient directly contributes to a more productive workforce:
- Less Financial Stress, More Focus
94% of employees using Paytient say it has relieved their financial stress. Without the constant worry of affording medical expenses, employees can focus on their work instead of their wallets.
- Better Health = Fewer Missed Days
78% of employees say they’re healthier because of Paytient. By making care more accessible, employees are more likely to seek treatment, stay on top of preventive care, and avoid worsening conditions that could lead to sick days.
- Increased Job Satisfaction & Retention
71% of employees say they’re more likely to stay with their employer because of Paytient. When employees feel supported financially and personally, they’re more engaged, loyal, and invested in their roles.
The Bottom Line: Financial Wellness is a Workplace Superpower
Better benefits mean better business. A financially secure employee is more engaged, focused, and productive. By providing an HPA as part of your benefits package, you’re not just helping employees afford care—you’re investing in their well-being, workplace satisfaction, and long-term success.
Empower your people with a benefit that improves both their health and their performance. Explore how Paytient’s HPA can transform financial wellness in your workplace here.
