ROSEVILLE, Calif.–(BUSINESS WIRE)–MSA today announced its partnership with Whil, the digital leader in employee wellbeing and a newly acquired division of Rethink, the global leader in behavioral health technology. Whil added MSA’s financial wellness solutions to its robust offering of employee wellness tools to target one of the largest healthcare cost-drivers for U.S. companies, financial stress.
No longer a ‘nice-to-have’ employee benefit, financial wellness programs have become a key component of business strategies across the nation. The correlation between financial stress and overall physical and mental health is direct.1 Chronic stress about employment, debt, budgeting and retirement erodes the quality of life for families and individuals, ultimately affecting work productivity. Companies with financially stressed employees suffer from disengaged and distracted staff, resulting in lower productivity and a slow decline in company vitality. Financial stress caused U.S. businesses to lose half a billion dollars in 2019.1
In early 2021, Whil surveyed its global client base to assess the most pressing concerns related to employee wellbeing. “Financial wellbeing” topped the list. With a shared focus on holistic wellness, Whil found alignment with MSA’s values, and chose MSA’s award-winning financial wellness platform to help transform lives, reduce financial stress, and boost employee productivity. MSA expects to reach millions of members in more than 120 countries through its partnership with Whil.
Whil users will have access to MSA’s full suite of digital training tools that offer varying levels of engagement and education. More importantly, members will gain a dedicated ally – a personal Money Coach. Money Coaches set MSA apart from other financial wellness programs and improve results. On average, MSA members working with a Money Coach experience financial stress relief within the first 90 days. And ultimately, the average MSA member experiences the following changes:
- 76% improvement in their self-reported financial wellbeing.2
- 40% improvement in how often financial stress impacts their physical health.3
- $800+ increase in monthly cash flow.2
- 45% decrease in time distracted at work due to financial stress.2
- $8k reduction in debt.2
- 50+ point increase in their credit score.2
- 6% increase in retirement contributions from annual salary.2
Joe Burton, founder and CEO of Whil, is enthusiastic about the new member experience. “Our clients helped us to identify a very pressing need for employees. There’s no question that financial wellbeing and personal wellbeing are interconnected, so partnering with MSA is an exciting step for us in our mission to help improve lives.”
Brad Barron, CEO and founder of MSA, is also excited about this new partnership. “MSA and Whil are both truly passionate about empowering people to live their best lives. We’re excited to work with their clients’ employees to eradicate financial stress for those new members and to help them achieve their financial goals.”
My Secure Advantage, Inc. (MSA) is a national leader in financial wellness programs. MSA provides unbiased, personal finance coaching to thousands of MSA members each month through over 15,000 employer groups, companies and partners. MSA’s expertise meets its members’ unique needs and challenges by delivering multi-dimensional, scalable solutions. With over one million consultations complete, MSA equips and empowers its members to make sustainable behavior changes so they may achieve long-term financial well-being to improve their quality of life.
Whil is the only global digital platform on the market that leverages evidence-based and clinically validated approaches to support the Personal Wellbeing, Professional Development, and Parenting & Caregiving needs of employees across all areas of their lives—from work life to home life and everything in between. The platform is available in nine languages and integrates into all of the leading corporate wellness platforms, learning management systems and EAPs. Learn more at whil.com.
- Businesses lose half a billion dollars a year due to employee financial stress (Satter, Benefitspro.com; 2019).
- My Secure Advantage, Inc., January 2021. Averages based on MSA member self-reported financial data from 1/1/20 – 12/31/20.
- My Secure Advantage, 2020.