Virgin Pulse Launches Financial Wellbeing Solution
Powered by Mercer Financial Wellness, New Virgin Pulse Program Helps Employees Achieve Wide Range of Financial Goals, from Budgeting to Loan Repayment
Framingham, Mass. - (May 10, 2017)
Virgin Pulse, the leading global provider of technology solutions that promote employee engagement and wellbeing, today announced that it will offer clients and members access to an exclusive financial wellness solution powered by Mercer, the global consulting leader in advancing health, wealth and careers, and a wholly-owned subsidiary of Marsh & McLennan Companies (NYSE: MMC). As part of the company’s ongoing commitment to engaging employees across all aspects of wellbeing, Virgin Pulse will embed Mercer Financial Wellness into its award-winning wellbeing and engagement platform, giving users personalized recommendations designed to help them achieve their financial goals. Making this program available within the Virgin Pulse platform will provide users with a seamless experience and integrated access to goal setting, tracking, educational content and fee-based financial partners.
Financial stress is severely impacting the American workforce. According to recent data, 22% of US employees admit to missing at least one day of work in the past year to deal with a financial problem. Virgin Pulse employee wellbeing solutions have the highest member usage rates in the industry, and a proven track record of helping employees build healthy, sustainable habits. The addition of a comprehensive financial wellness solution means that members can rely on the technology they already use and love to build a firm financial future.
“If we want our employees to feel good, to be truly focused, to show up to work engaged, then we have to offer them financial wellbeing resources,” said Ron Hildebrandt SVP of Product, Virgin Pulse. “The distractions of financial stress are taking a toll on employees and businesses by extension. In fact, 7 out of 10 American workers say financial stress is their most common cause of stress, and more than 30% of our own members have elected to receive daily financial wellbeing content. With our new offering, Virgin Pulse is now able to help millions of members manage financial stressors – like student loans and personal debt – and plan for a prosperous future.”
Launched in 2016, Mercer Financial Wellness, integrates personalized guidance and independent financial wellness providers into a single platform, offering employees access to financial services providers relevant for their circumstances. This feature-rich solution will power Virgin Pulse’s Financial Services offering and provide clients and members with recommended financial action items based on an assessment of their current financial health and lifestyle, as well as access to basic budgeting tools and educational content, data aggregated budgeting and additional features focused on optimizing users’ financial health. Through this program, Virgin Pulse members can access fee-based financial partners, offering services such as student loan refinancing, credit score/monitoring, retirement services, financial coaching, investing, and personal loans.
The addition of financial wellbeing is the latest in a series of enhancements to the Virgin Pulse suite of wellbeing and engagement solutions, which have included mindfulness, stress resiliency, and sleep improvement, all designed to expand the Virgin Pulse member experience into all areas of wellbeing.
“There is a natural synergy between Mercer and Virgin Pulse, as we both look for ways to help our clients reduce healthcare costs and increase employee engagement,” said Tom Murphy, US head of Wealth, Mercer. “Mercer’s deep commitment to financial wellness research, consulting and digital consumer solutions provides a strong platform for us to support our clients and drive outcomes that link financial wellbeing, physical health and workplace productivity to the benefit of all.”
About Virgin Pulse
Virgin Pulse, the leading provider of technology solutions that promote employee engagement and wellbeing and part of Sir Richard Branson’s Virgin Group, helps employers create workforces that are happier, healthier and ultimately more productive. The company’s modern, mobile first platform delivers a personalized user experience that utilizes gamification to engage users in building habits that inspire meaningful and measurable change across individuals and the businesses they serve. By helping employees thrive at work and in all aspects of life, Virgin Pulse is helping change lives and businesses around the world for good. More than 2,200 global organizations representing many of the Fortune 500 and Best Places to Work, have selected Virgin Pulse’s solutions to engage their workforces and drive their businesses forward. To learn more, visit virginhealthst.wpengine.com.
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
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