Four financial wellbeing insights from The Conference Board Chicago with Akamai and LearnLux

At The Conference Board Annual Employee Health Care Conference in Chicago, Julie Paris of Akamai Technologies and Rebecca Liebman of LearnLux shared industry insights for benefits leaders. Four key takeaways emerged from the session. Financial wellbeing reaches far beyond retirement. Many employers can fund it within their current wellness budget. Launch strategy drives success. And one global program can bring 1:1 guidance from in-country financial professionals to every employee from day one.

What were the four takeaways from the session?

The speaking session "Financial Health and Your Company's Bottom Line," followed Akamai's first six months with LearnLux. Akamai rolled out the program globally, to every employee. Rebecca closed the session with three takeaways, and a fourth ran through the whole conversation:

1. Financial wellbeing is more than retirement readiness.
2. Companies are funding financial wellbeing programs from their existing benefits budgets.
3. Launch strategy sets up success.
4. Launch one global program from day one.

How did Akamai roll out their financial wellbeing program in 30 countries?

Akamai launched LearnLux in 30 countries at once, so every employee had benefits parity on day one. The team paired one global rollout with local outreach in each market.

Akamai's approach included:

1. One program everywhere. Every employee got access at launch, with no country-by-country vendor search.
2. Building to how employees wanted to engage. Akamai's survey asked employees how they preferred to learn, and webinars were a top response.
3. Local channels in each market. For example in India, strong local communication channels and a webinar built for that country drove a high registration rate.
4. Tracking registration by country. Julie reviews registration by country to find what drove each spike, then repeats it.
5. Realistic expectations by culture. In some countries, people rarely talk openly about money, so registration grows more slowly. Julie expected this from the start.

Rebecca noted that best practices carry from one market to the next. Employers can learn the trusted channel in each, and reach employees at moments when money is on their minds.

Why is financial wellbeing more than retirement readiness?

For employers looking to define what financial health means in their employee population, Rebecca offered that financial wellbeing means:

• Understanding your day-to-day finances
• Having a plan that can absorb a financial shock
• Making progress on the goals you are working toward
• Enjoying your life while you do it

Retirement is one part of the financial wellbeing picture. When Akamai surveyed employees about their financial health, the most requested topics were:

• Tax guidance
• Equity program guidance
• Investing basics
• Preparing for retirement

Julie now looks for the everyday goals behind those requests. "Saving for emergencies with their pets, or putting aside the money they need for childcare," she said. "Those things that are happening in this moment for those people."

Rebecca echoed this idea with a phrase that carried throughout the session: every decision is a financial decision. Financial pressure also reaches across pay levels. Globally, 88% of employees report some degree of financial stress, according to the LearnLux Workplace Financial Wellbeing Report. Strong salary bands do not mean a workforce feels financially secure.

Rebecca shared how 1:1 guidance from Certified Financial Planner® professionals helps here. One employee came to a LearnLux planner wanting to buy a house. The planner first walked through whether they had emergency savings. A planner meets people where they are and helps them find the next best step.

How can employers fund a financial wellbeing program from their existing budget?

The second takeaway is that employers often already have the budget for a benefit like this. Akamai funded its program inside its existing wellness spend.

Financial wellbeing climbed Akamai's priority list over several years. Its employee wellness survey showed a clear progression in the most requested topics:

1. Physical fitness
2. Mental health
3. Financial guidance

Rebecca sees the same progression across many LearnLux clients, driven largely by the cost of living.

Akamai first brought in an outside expert for a multi-week program. Employees liked it, but it was a one-off. "We knew if we wanted it to have longevity, we needed a vendor who could support us," Julie said.

Leadership support came easily. Funding took more work. Julie reviewed her wellness budget line by line to find room. "Buy-in from leadership was fairly easy, but I had to work within the existing wellness budget to get it done," she said. Rebecca noted that most benefits leaders take this same path.

The guidance model shapes the value of that investment. LearnLux planners are salaried fiduciaries. They always provide guidance in the employee's best interest, with no products to sell. Commissioned salespeople, by contrast, earn money on the products they place. What is a fiduciary financial wellbeing program? explains the difference.

What launch strategies drive financial wellbeing engagement?

The third takeaway is that launch strategy sets up success. Akamai put the program in front of employees at moments when money was already on their minds. Tactics included:

• A CHRO feature in the monthly wellness memo, which drew far more views than a typical edition
• A note in total rewards statements and compensation statements pointing employees to the program
• A home mailer to employees in the US, so partners and family members see it too
• A webinar built for employees in India, which drew hundreds of sign-ups
• Outreach through employee resource groups (ERGs), with custom webinars planned

Akamai gave the program its own name, the Financial Fitness Center powered by LearnLux. Julie wanted it to feel like the rest of the wellness program. "Approachable, friendly, low pressure," she said.

Julie also describes the program as "one front door" for financial benefits questions. Employees with questions about an HSA, an FSA, or a retirement plan know where to go. The planners already have Akamai's benefits information, so employees do not start from scratch.

Why launch one global financial wellbeing program from day one?

The fourth takeaway is to launch one global program from day one. Global reach was a requirement for Akamai from the start. "We could scale this across all of our employees across the globe," Julie said.

Julie had lived through the other path with employee assistance programs (EAPs), rolling out a separate EAP for each country. At Akamai, the team brought financial wellbeing all together under one vendor. "It's nice to know that we didn't have to have that same experience with financial wellness," she said. "There was a solution that immediately could be offered to everybody."

One global program gives employers benefits parity. Every employee has the same program on day one, wherever they work. Benefits teams also avoid managing a set of country-by-country point solutions.

LearnLux supports employees in 100+ countries and 35+ languages. Employees get 1:1 guidance from Certified Financial Planner® professionals and in-country financial planners. Program content is created and reviewed by local experts for each country. For more on this shift, read Why financial wellbeing is a global priority for multinational employers.

Frequently asked questions about the session

Who spoke at The Conference Board Chicago session on financial health?

Rebecca Liebman, CEO of LearnLux, and Julie Paris of Akamai Technologies led the speaking session. The session covered Akamai's first six months offering LearnLux globally to every employee.

How does LearnLux define financial wellbeing?

LearnLux defines financial wellbeing as understanding your day-to-day finances and having a plan that can absorb a financial shock. It also means making progress on your goals and enjoying your life while you do it.

What financial topics did Akamai employees ask for most?

Akamai's employee survey surfaced tax education, equity program education, investing basics, and preparing for retirement. Certified Financial Planner® professionals support employees across all of these topics through 1:1 guidance.

How did Akamai fund its financial wellbeing program?

Akamai funded its financial wellbeing program within its existing wellness budget. Julie Paris reviewed current wellness spend line by line to make room, rather than asking for new dollars.

What does "one front door" mean for employee benefits?

"One front door" means employees have a single place to bring questions about financial benefits, like an HSA, an FSA, or a retirement plan. LearnLux planners already know the employer's benefits, so employees get help without starting from scratch.

Why did Akamai launch financial wellbeing globally from day one?

Akamai launched financial wellbeing globally from day one so every employee had access at once. Julie Paris wanted to avoid stitching together a separate program for each country, as many employers once did with EAPs.

What is benefits parity in a global financial wellbeing program?

Benefits parity in a global financial wellbeing program means every employee gets the same program, wherever they work. LearnLux delivers one program across 100+ countries and 35+ languages, with 1:1 guidance from Certified Financial Planner® professionals and in-country financial planners.

How should employers measure early success of a financial wellbeing program?

Early on, registration shows that employees know the program exists and where to find it. Over time, employers can look at whether employees can absorb a shock, make progress on goals, and use the benefits already offered.

Why choose a fiduciary financial wellbeing program?

A fiduciary financial wellbeing program provides guidance in the employee's best interest. LearnLux planners are salaried, with no products to sell. Employers can put a financial expert in front of their workforce with confidence.

How can your organization get started?

Julie's guidance for employers exploring financial wellbeing: start by asking employees what they need. From there, 1:1 guidance from Certified Financial Planner® professionals paired with best-in-class money management tools helps employees act with confidence, in every region around the globe. Explore the LearnLux program or request a demo.