Pepsi supports 280k employees with new financial wellness initiative

Pepsi is making sure employees will be able to navigate rough financial waters this year. 

The food and beverage giant is partnering with financial education platform nudge on a "Healthy Money" program, which will support employees across the globe with a personalized financial wellness plan. From basic financial literacy, to support with retirement planning, the benefit is available to Pepsi's 280,000 employees across 59 countries. 

"As we continue to witness a growing need for improved financial literacy driven by external factors such as inflation and economic uncertainty, businesses must recognize the significant impact that poor financial well-being can have on their employees," Tim Perkins, co-founder and CEO at nudge, said in a release. "Personalized, localized solutions can drive meaningful change and improve employee well-being."

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Financial insecurity has a pervasive impact on all areas of life, including work. In a recent survey from fintech company SoFi, 33% of employees said money-related stress makes it difficult to concentrate on tasks, and a quarter said it impacted their productivity. Employees typically spent more than eight hours a week worrying about money while at work. 

And Pepsi's employees aren't alone in their need for more personalized financial support: 85% of employees say financial stress is an issue for them, according to a survey from financial wellness platform BrightPlan. Ninety-five percent of employees say inflation is a top concern, as more than half of workers feel their paychecks are not keeping pace, according to BrightPlan and the American Staffing Association.  

Pepsi utilized employee surveys to identify key areas of financial stress. Money management was a top concern, followed by retirement readiness. Since implementing the program, more than a quarter of employees have made adjustments to their 401(k), according to data from Pepsi. 

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The partnership also seeks to address the need for financial well-being among frontline workers. Pepsi and nudge hope to address accessibility issues by offering their program in Spanish, and providing access via QR code so deskless workers could utilize the benefits on the go. 

To get employees motivated to utilize the platform, Pepsi offers incentives for those who sign up or regularly engage in a financial health checkup. So far, 77% of Pepsi's employees have utilized the program at least three times. 

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Financial well-being continues to be a top area of investment for employers this year. By 2026, 47% of employers plan to add financial wellness tools to their benefits suite, according to CloudPay. These are benefits employees appreciate, too: 80% of employees would stay with their employer longer if financial wellness benefits were offered, according to a survey by PNC Bank. 

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Whether addressing immediate financial needs or longer-term financial goals like retirement, employers now have a role to play when it comes to ensuring that their employees can manage the money they're receiving in their paychecks. Financial wellness benefits can be an empowering tool, no matter the financial circumstances. 

"Take out the assumption that [employees] earn enough, because you don't know," says Catherine Scagnelli, head of marketing at employee relief fund platform Canary. "It builds trust between employees and their employer, which is key in engaged, loyal workforces."