How Financial Wellness Improves Manufacturing Safety

To minimize workplace injuries, manufacturers often focus on enforcing procedures and ongoing training, such as ensuring each employee knows how to safely operate machinery and handle hazardous chemicals.

But safety also requires mental clarity, and many manufacturing employees are struggling to stay focused—an issue that will only grow as manufacturing employees are tasked with completing additional work in their roles. A 2024 recent Purchasing Power survey found that 23% of manufacturing employees are being asked to do more in less time, while 42% are being asked to do multiple jobs at once.

In addition, external factors such as unchecked mental and financial stress can make it more difficult for employees to stay focused, a major concern in high-risk environments where safety depends on sharp attention and peace of mind. A 2024 SoFi study found employees spend 8.2 hours a week dealing with their finances at work, while 48% say finances are causing sleep problems. These stressors are causing a productivity drain and opening the door to work-halting accidents, which can quickly impact manufacturers’ bottom lines.

Fortunately, employers have avenues to be the solution, rather than the cause of financial stress. Options such as voluntary benefits that support an employee’s physical, mental and financial well-being can help offset these stressors and allow workers to bring their best selves to the office.

Reducing Short-term Financial Strain

One of the most immediate ways employers can support safety is by helping employees stabilize their day-to-day finances—especially as workers struggle with the lingering impacts of inflation. Purchasing Power’s survey found that more than half of manufacturing workers (55%) don’t feel that their employer is actively helping them with everyday expenses. At the same time, two-thirds of workers (66%) report having $1,000 or less in savings, leaving them highly vulnerable to even one surprise expense.

When workers are preoccupied with overdue bills, unexpected car repairs, or unmanageable medical costs, it can be a distraction at work. Voluntary benefits, such as bill payment programs and medical deductible financing, provide employees with a manageable way to cover essential costs, reducing the stress that might otherwise follow them onto the factory floor.

Medical costs in particular are a pressing concern. SoFi’s study found that 29% of workers have delayed or skipped care because of affordability. This adversely affects their health and can put them at higher risk of illness or injury at work. By offering benefits such as medical deductible financing and access to free or low-cost telehealth providers, employers can help workers get the care they need without a large upfront bill, encouraging them not to delay important care.

Another critical area is access to employee purchase programs. Too often, workers turn to high-interest credit cards or payday loans to cover essential needs. With an employee purchase program, workers can buy necessities (e.g., replacement appliances, school supplies for their children or new car tire) and make interest-free payments through payroll deduction. This provides financial flexibility without pushing employees deeper into debt, supporting both their household stability and workplace focus.

Building Long-term Financial Wellness

Financial wellness goes beyond paying the monthly bills. True financial wellness requires a balance of longer-term planning and support as well as resources to meet today’s needs. Many manufacturing employees are likely thinking about longer-term goals, such as saving for school tuition or education-related expenses, buying a home, or preparing for retirement. Supporting them in making these goals a reality boosts morale, strengthens loyalty and reduces burnout.

That said, financial topics can be deeply personal, and not every employee is comfortable sharing about their financial needs and hardships. Employers can make a difference by offering a range of confidential and accessible resources when employees need them. In Purchasing Power’s survey, employees with access to financial wellness programs reported greater access to practical tools. In fact, 40% of respondents had tax support services, 39% had budgeting resources and 30% had credit improvement support. These offerings help employees feel more in control of their financial futures, translating into greater peace of mind and sharper focus while on the job.

The Connection Between Safety and Financial Wellness

No matter how comprehensive a manufacturer’s safety training program may be, outside pressures can erode employees’ focus, energy and judgment. Stress about personal finances doesn’t stay at home. It follows workers into high-risk environments where even small lapses in attention can have serious consequences.

Manufacturing HR leaders should work with their in-house safety professionals to understand current risk levels and hazards that need to be addressed, then collaborate on introducing benefits to offset those risks. By offering both short-term solutions (e.g., bill payment programs and affordable purchasing options) and long-term resources (e.g., financial counseling, training reimbursement and retirement planning support), manufacturers can address the root causes of financial stress.

The result is not only safer workplaces but also more resilient, engaged and loyal employees. When employees feel secure both on the job and at home, everyone benefits from fewer safety incidents, stronger productivity, and improved retention.