Making financial health part of Magnit's U.S. employee support

• ‍Established: 1994 ‍
• Industry: Professional Services ‍
• No. of employees: 3,000+ ‍
• No of countries: 6

The situation

Magnit connects businesses with the talent and workforce solutions they need to move fast. As the company continued investing in its people, financial health became the natural next focus, building on everything Magnit already offered to support its workforce.

The ask was straightforward: give every U.S. employee access to impartial financial guidance that actually helps, whatever life stage or financial starting point they are at. Magnit wanted a consistent, equitable experience that treats financial health as a genuine part of how it takes care of its people, not a one-time handoff of generic resources that misses the point.

The solution

Magnit partnered with nudge to build and launch a financial health program, woven into its existing benefits rather than bolted on as a standalone initiative. Financial health support sat alongside mental health and lifestyle support, reinforcing that they aren't separate concerns. That integrated approach paid off, with the program exceeding every target Magnit set in its first year.

The program was built around a few core principles:

• State specific from day one. State-specific impartial financial guidance, campaigns, and communications were sent when most relevant, whether during tax season, open enrollment, or regulatory shifts.‍
• Personalized journeys. The nudge platform guides employees through personalized journeys shaped by their life stage and financial goals. Each one encourages them to act on their finances, from early-career budgeting and student loan repayment to 401(k) planning and longer-term wealth building. ‍
• Behavioral design at the core. Timed nudges at key moments (annual open enrollment, major life events, onboarding) make it easy for employees to take small, concrete actions rather than feeling overwhelmed. ‍
• AI-powered tools with human depth. An AI money coach and money modelers give employees immediate, impartial financial guidance at scale, complemented by live webinars when employees want to gain a deeper understanding. ‍
• Friction-free access. Single sign-on removes the login barrier entirely, creating a connected experience so employees can move between HR systems, benefits platforms, and nudge’s impartial financial guidance without any extra steps.

Savings competitions, event-triggered communications, and campaigns tied to enrollment windows kept the program successful all year, not just at launch.

The results‍

Employee impact

• 67% used state-specific impartial financial guidance relevant to where they live ‍
• 22% of employees completed a financial health checkup ‍
• 42% of employees improved their financial health, well above the 30% target ‍
• 54% returned to nudge more than once, building financial confidence over time

Employer impact

• 1 in 5 employees drew on benefits guidance during U.S. annual open enrollment ‍
• 3-point year-over-year financial health improvement in saving behavior, showing real behavior change

ROI

• Financial health established as a strategic workforce priority for Magnit, with a clear baseline to measure impact as the program deepens