New Approach Goes Beyond Health and Financial Wellness Programs to Provide Employers with a Total Well-Being Roadmap for Their Workforce
Fidelity Investments, a leading workplace benefits provider and one of the most diversified financial services companies, announced availability of the Fidelity Total Well-Being solution, an innovative approach that allows employers to optimize their benefits platform by providing a detailed analysis of employee benefit needs across the four domains of well-being: health, money, work and life. While other solutions focus on diagnostics and recommendations to address individual silos such as financial wellness or physical and emotional wellness, Fidelity’s holistic approach provides employers with a deeper understanding of the needs and challenges facing their workers in all aspects of their lives.
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“Today’s workers lead increasingly complex lives and challenges in one area of an employee’s life can have an adverse impact on others,” said Pearce Weaver, senior vice president with Fidelity Workplace Consulting. “While many employers use financial wellness and employee engagement surveys as well as health risk assessments, Fidelity’s approach pulls these disparate tools into one holistic approach. This enables us to understand the inter-relationships between health, money, work and life, which helps our clients build benefit programs that address both the cause and effects of challenges facing their employees.”
Fidelity’s new solution consists of three key components.
- Employee Total Well-Being Assessment (Image 1): Consists of a 10- to 15-minute survey for employees that provides insight to factors that contribute to, or detract from, their well-being. Developed with leading academic institutions, the assessment can help determine where an employee’s benefits needs may be unmet.
- Personalized Employee Action Plan (Image 2): Provides each employee with real-time individual Total Well-Being scores along with suggested benefits to consider that may help to improve their well-being.
- Employer Analytics Dashboard (Image 3): Enables employers to drill into the data to answer critical benefits strategy questions and build business cases for changes. Employers can also compare their results against Fidelity’s national data benchmark.
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Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.8 trillion, including managed assets of $2.8 trillion as of September 30, 2019, we focus on meeting the unique needs of a diverse set of customers: helping more than 30 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers.
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