Many employers have done an excellent job of integrating financial wellness programs with their employees in order for them to improve their overall financial well-being. However, the most significant progress appears to be when investors actually speak with a qualified human being rather than relying on technology. The key, according to an article on the website of Employee Benefit News titled, “Technology Alone Not Enough in Financial Wellness,” is the level of employee engagement.

The article stresses that people who interacted with a certified financial planner five or more times during the year had a much better grasp on their finances, an emergency fund, retirement contributions, and cash flow management when compared to people who only used online tools. Were employees who talked to a real person getting better advice? Were employees who were more worried about their money doing more to understand and solve their problems by actually talking to someone? This was not known, but what was discovered was that technology can only do so much.

For example, if you get on a scale, it’s going to give you a number. The scale won’t tell you what to eat, how many calories you’ll need to burn, or what steps you’ll need to take if something unexpected happens. In terms of a person’s financial well-being, technology overload can occur and he or she will get bombarded with information that’s either not understood or unusable.

Once employers figure out that technology alone is not a viable solution to help employees with their finances, they can shift some of their financial wellness and retirement programs to one-on-one guidance with certified financial planners. Furthermore, they can incorporate education and focused presentations, such as workshops on retirement, student loan repayment, tackling credit card debt, etc., into the mix in order to drive up employee engagement.

The takeaway is that there is no single solution to help employees with their monetary planning and problems. It takes a combination of technology, education, and personal face time to ensure that a company’s workforce is making progress toward their financial goals.