These benefits combat money stress and help employees get ahead

When employees have money on their mind, it's hard for them to think of anything else. Money stress impacts mental health and workplace productivity, making it vital for employers to address these concerns with the right benefits. 

For the millions of employees with student loan debt, repayment benefits are becoming more popular, and can make a significant difference in employees' lives. At clean energy company Avangrid, the organization has already paid off more than $300,000 toward their employees' loan balances. The perk has fostered an intense loyalty for those who have taken advantage of it so far. 

"We work hard to keep the company afloat, and it's just such an important thing to provide essential needs for your employees," says Alexis McDonald, a talent acquisition manager who is using the benefit to pay down her $30,000 loan balance. "Student loan forgiveness for a lot of people is an essential need."

Read why Avangrid launched a student loan repayment program: What the Supreme Court's ruling on student loan forgiveness means for employees

Beyond student loan forgiveness, employees have financial needs and responsibilities throughout their lives. Whether it's building an emergency fund, saving for kids, preparing for retirement, and everything in between, each generation in the workforce will need something different to feel financially prepared. 

Read more about the full spectrum of financial wellness benefits: From boomers to Gen Z, creating financial wellness at any age

When employees feel empowered around their finances, they make smarter choices and advocate for what they deserve. Knowing how to negotiate and ask for more pay is a challenge for many people, but the right approach can make a huge difference. Business leaders across several industries share how workers can up their pay this year.

Read these fail-safe negotiating tips: 10 tips and tricks to climbing the pay ladder

While financial advice is often welcome, where employees seek out their knowledge can have an impact on their financial wellness. For Gen Z employees, the lure of social media and "FinTok" is one way they're learning about money, but it's imperative they do their homework first. 

"Not all advice is from certified professionals and a one-size-fits-all approach often overlooks individual financial circumstances," says Chad Willardson, president and founder of Pacific Capital, a California-based wealth management firm. "Sensational success stories can also promote risky behavior. I've seen videos with millions of views and thousands of likes and comments where the investing advice was completely wrong." 

Read more about the rise of FinTok as a resource for Gen Z: TikTok as a financial adviser? Here are the pros and cons of FinTok 

Having a healthy relationship with money is the ultimate goal, and a certified financial therapist can help employees get there. CFTs explore a person's relationship and history with money, using open-ended questions and empathy to help them feel more comfortable and empowered. The sessions go beyond financial advice to address the root causes of distress. Would you benefit from a CFT? 

Read more about this emerging mental health benefit: Is financial therapy the next big mental health benefit?