Health, money, work and life all play a critical role in an individual's total well-being, according to a recent study from Fidelity Investments.1 The study, based on responses from more than 9,000 workers and conducted in collaboration with researchers from the Stanford Center on Longevity and Cornell University, was designed to provide insight on the overall well-being of American workers. Fidelity's survey and behavioral analysis focuses on the four domains of well-being, providing a unique view into how they are connected:
- Financial (debt, savings, insurance, budgeting),
- Health (physical health, mental health, healthy behaviors),
- Work (work/life balance, career status and opportunities, burnout) and,
- Life (personal satisfaction, sense of purpose, sources of stress, relationships).
"When it comes to total well-being programs, employers have traditionally focused on health, but have recently expanded efforts to include financial wellness. Financial wellness programs have gone a long way toward helping workers to create a budget they can live with and have helped many employees consolidate and/or minimize debt. The next step for employers is to account for their wellness at work and in life, as these are two critical dimensions of overall well-being that shouldn't be overlooked," said Jeanne Thompson, head of Global Workplace Insights, Fidelity Investments. "Taking a holistic view of financial and health wellness, in addition to work and life, provides a more complete assessment of employee well-being, which can help employers provide the right benefits to the right person at the right time."
1Unless otherwise noted, data represents the Fidelity Investments Total Well-Being Research online survey of 9,315 active Fidelity 401(k) and 403(b) participants from across the United States. The survey was conducted by Greenwald and Associates, an independent third-party research firm, on behalf of Fidelity in September 2017.