The healthcare industry demands resilience, dedication, and precision from its workforce. Yet, many healthcare professionals face a challenge that directly impacts their well-being and performance: financial stress. Studies show that 68% of healthcare workers feel overwhelmed by their personal finances, a figure that surpasses the national average for other industries.
For employees at Quest Diagnostics, a Fortune 500 leader in diagnostic testing, financial concerns are more than just numbers, they have a real impact on focus, engagement, and overall job satisfaction. Understanding that financial strain can spill into the workplace, Quest set out to provide meaningful support for its workforce.
“Our amazing colleagues provide the highest level of care for our patients and customers every day,” says Noreen Farrell, Vice President, Rewards & Analytics at Quest Diagnostics. “Quest believes strongly in our Purpose, working together to create a healthier world, one life at a time, and that starts at home.”
Recognizing that traditional financial wellness programs, such as budgeting classes and online calculators, often fall short of providing real, actionable relief, Quest took a different approach. Employees needed more than just education, they needed resources that could help them navigate immediate financial challenges while building long-term stability.
To address these needs, Quest implemented a financial wellness program that offers on-demand financial education and access to responsible credit solutions. This initiative ensures that employees have the tools and resources to manage their finances effectively, avoid high-interest debt, and reduce reliance on emergency loans or 401(k) withdrawals.
The results have been striking. In a survey of employees who use the program, 83% said they appreciate having financial wellness resources available, and 82% plan to continue using them. Many employees have reported reduced stress and a greater sense of control over their finances.
Dan De Oliveira, Sr. Director of Benefits at Quest Diagnostics, believes FinFit is a key driver of wellness: “Our collaboration with FinFit ensures our folks can get the help they need in case of an emergency and provides a trusted partner for any financial goal.”
Beyond employee sentiment, the initiative has also led to measurable improvements in financial well-being. The percentage of employees living paycheck to paycheck has dropped by 23%, and the number of those unsure where to turn for financial help has fallen by 52%. These improvements highlight the value of offering holistic financial wellness benefits that meet employees where they are, whether they need help creating a budget, saving for an emergency, or accessing financial coaching.
Quest’s commitment to financial wellness is part of a larger strategy to support employee well-being across financial, physical, and mental health. By taking proactive steps to ease financial burdens, Quest is not only improving employees’ lives but also fostering a more engaged, productive workforce.
More employers are beginning to recognize the link between financial wellness and workplace performance. Organizations that offer action-oriented benefits, such as emergency savings accounts, responsible credit access, and real-time financial coaching, are seeing gains in employee engagement, retention, and productivity.
For Quest Diagnostics, investing in financial wellness isn’t just a benefit—it’s a strategic decision that helps employees thrive, both at work and at home.
Learn more about how Quest Diagnostics is supporting its workforce. Read the full case study.