Employee Financial Wellness Survey 2021

We are pleased to present our 1st annual employee financial wellness survey which tracks the financial well-being of full-time employed Indian adults.

Take the survey. Be counted.

We will collate survey responses and share a detailed report with all participants who provide their email ID’s.

Does your workforce need to take the employee financial wellness survey?

Employee financial wellness programs are meant to help your employees manage their finances in a better way. These programs not only help your employees to get rid of their financial problems but also contribute to improving their financial well-being.

There are different employee financial wellness programs available in India and each program can be customized according to the need of your employees. This need is not spelled out but it is your duty, as an employer, to find out.

This quest can be done through employee financial wellness surveys. Employee Financial Wellness Survey can, therefore, act as a tool to understand in detail about the financial needs and requirements of their employees. 

Here are the reasons why the survey is needed

employee financial wellness survey india


Understanding an employee’s financial needs

The workforce in your organization must be having employees belonging to different designations and different generations too. The financial need of a millennial would always be different from that of an employee from Gen X. You, therefore, need to understand the respective needs of employees and a survey helps you do just that.


Employee engagement

Employee engagement is of utmost importance in the success of financial wellness programs that you organize. What can be a more successful method for engaging your employees into the financial wellness programs than through the employee financial wellness surveys?

The survey would root out the cause of financial distress and make your employees more responsive to the programs that you later inducted into the organization.


Macro Trend analysis

The financial wellness assessments which your employees would take will consist of simple questions related to their financial health and monetary habits which will give you a macro trend analysis of the improving or declining financial health of your employees.


Long-term benefits

Besides offering insights on the right financial wellness program to choose for your employees, the survey would provide long term value to your organization in the form of employee retention, lower attrition and increased productivity.


Customization of wellness programs

When you find out what your employees need, you can get the financial wellness programs customized to suit the needs of your employees. This would make the program more relevant and your money would be well-spent.


Findings from Koppr’s Employee financial survey

These are findings till 20th January 2021.

Koppr conducted an annual survey among the employees of the private sector. The survey was done to gauge the knowledge of employees about financial wellness and their current scenario. Here’s what the survey found –

  • 38.2% of the participants felt that financial wellness meant financial freedom to make any choice in their lives while 26.1% defined financial wellness to have sufficient savings for unexpected expenses
  • Current financial situation and job were the two main stressors for employees
    52.9% believed that the major financial concern is not having money for emergencies
  • 30.6% of the employees believed that better job security would help them achieve their financial goals while 22.3% were of the opinion that they would need a financial coach to meet their goals
  • 33% of the participants believed that they are financially worse off than their parents
  • 38.2% of the participants needed their employers to provide them with investment or retirement planning tools while 20.4% wanted their employers to provide them with unbiased financial counsellors
  • 29% of the employees felt that their employers did not care about their financial well-being
  • 39.5% trusted the advice of independent financial planners who didn’t solicit products while 37.6% trusted their friends or family members for financial advice
  • 42% of the participants felt that they would need financial guidance when making important financial decisions
  • A majority of the participants, 42.7%, had a saving of less than INR 1 lakh to deal with emergency expenses while 36.3% had saved more than a lakh but less than INR 5 lakhs for emergencies
  • 56.1% of the employees had credit card debts
  • 16% of the participants found it difficult to meet their monthly expenses while 15% believed that they might find problems in meeting their expenses
  • 66.9% of the employees felt that financial worries have adversely affected their health, work productivity and relationships at home among other things
  • 63.1% of the participants have a retirement corpus of less than INR 10 lakhs


The survey is a real-time survey which is open for all employees. More than 150 participants have already taken the survey and you can motivate your employees too to take the survey.

Once your employees take the survey you can find out their financial needs and worries and their financial wellness quotient. You can then get customized financial wellness programs to improve your employees’ financial health and make them stress-free.

Employee financial wellness surveys and financial wellness research gives all necessary answers to the financial needs of your employees. Your organization should ensure that the financial advice must be personalized and holistic and must ensure that engagement at the workplace is at its best.

Every individual employee has individual needs and a productive workforce can be created if you help each employee individually. An empowered employee contributes to an empowered organization. So, let your employees take the survey and find out what they need, that too in real-time.

FAQs related to employee financial wellness


How is financial literacy different from financial wellness?

Financial literacy is about understanding the basics related to money. It can include components like a savings account, balancing a cheque book, credit score, different loan products, etc.  However, financial wellness is a hands-on real experience related to money. It deals with strategies related to spending wisely, saving, cash flow management, etc.

What are some of the major benefits that you would include in your employee financial wellness programs?


The major benefits which would be included in the employee financial wellness programs are

  1. Debt Management
  2. Retirement planning
  3. Tailored financial education plan
  4. Budgeting and saving
  5. Security and fraud protection
How can you communicate about your employee financial wellness programs to your employees?

Communication about the financial wellness programs can be done either by one-to-one meetings, group communication, communication via electronic means or by the use of online tools.

How can you ensure that your employees are participating in the employee financial wellness programs?

An effective method to make employees participate in financial wellness programs is to make it mandatory. However, this can lead to resentment among some employees who are not interested in participating. You can boost employee participation by introducing incentives in the form of bonuses.

What are some of the major criterion based upon which the financial wellness needs of employees in an organization differ?

Financial wellness needs and preferences differ concerning the genders, age group, income level, designation and perceived financial health of the employees.

How do employee financial wellness programs improve employee recruitment?

Effective financial wellness programs will help you in attracting better talents into your organization as employees nowadays consider financial benefits a major criterion while joining new organizations.

How can you conduct an effective employee financial wellness survey in your organization?

The major tips which can help in conducting a successful financial wellness survey in your organization are

  1. Always ask the correct survey questions
  2. Communicate about the survey effectively among your employees
  3. Reward your employees for the time invested in taking the survey
  4. Use the data obtained from the responses to implement into your financial wellness programs
What are the types of questions which can be included in an employee financial wellness survey?
  1. Objective questions are to be answered in numbers or yes/no. 
  2. Subjective questions whose answers should be concrete. 
  3. At least one open-ended question.
What is a comprehensive employee financial wellness survey?

A comprehensive employee financial wellness survey is a detailed survey by which you would obtain all information but it is necessary to ensure that it is not so detailed that the employees lose their attention while completing it.