PepsiCo serves up financial wellbeing across 59 countries

PepsiCo partnered with nudge to launch a new global financial wellbeing program, transforming the financial wellbeing of 280k employees across 59 countries. From frontline workers to leadership, all employees are benefiting from stronger financial health.

Established

1965

Industry

FMCG

Employees

280k

The PepsiCo and nudge story

The challenge

PepsiCo’s vision is to create long-term financial fitness for all their employees. Recognizing there was little or no activity outside of the U.S., PepsiCo took steps to launch a global financial wellbeing program. For the business case, the team considered external factors, including the cost-of-living crisis and employee sentiments that were identified from survey feedback.

The team highlighted that ‘money management’ was a leading factor in increased stress globally. Separately, employee retirement readiness was also a cause for concern in countries where loans or withdrawals from retirement savings is possible.

"We had different flavors of financial wellbeing. Really robust in some markets, not as much in others, and in some it didn’t exist. We needed to make sure that we have a globally consistent experience for all our associates."

Barry O’Brien, Senior Director, Global Retirement & Financial Wellbeing, PepsiCo
The global financial wellbeing playbook, nudge webinar

The solution

PepsiCo identified nudge as the perfect partner to deliver a globally-consistent financial wellbeing program, that’s powered by impartial, personalized financial education. The PepsiCo and nudge team created a program brand called ‘Healthy Money’ with five key objectives:

1. Improve employees’ financial health, literacy, overall wellbeing and resiliency

2. Improve employees’ understanding and appreciation of PepsiCo benefits

3. Utilize analytics and insights to drive personalization

4. Improve digital employee experience, connecting overall benefits and wellbeing ecosystem

5. Expand the Healthy Money program globally, offering consistent and best in class solutions

Total workforce inclusion

A key focus in the launch was to ensure frontline workers across the 59 countries would see the relevancy and importance of Healthy Money and nudge. Here are some ways PepsiCo and nudge approached this together:

Communications included images of frontline workers so they could see this program was for everyone, not something just for “the wealthy” or “management.”

Recognizing that employees may not be the ones managing the household finances, PepsiCo and nudge deployed print home-mailers to ensure their loved ones could learn about the new financial wellbeing offering too.

Integrated other benefits into nudge’s financial education. The phase one launch occurred during World Mental Health Week so the first custom nudge post promoted their EAP, connecting mental health and financial stress.

Introducing the concept of nudge and financial wellbeing to their LATAM markets, PepsiCo produced a fun, energetic, reggaeton-like jingle and short video to promote nudge’s financial education features in Spanish.

Many employees in the U.S. expressed Spanish as their preferred language. Highlighting nudge's dual language functionality in comms was applauded by leadership as being inclusive, innovative and ‘frontline-centric.'

A global-first launch strategy

Think global, act local

PepsiCo and nudge launched the Healthy Money initiative through an omni-channel approach, including:

Equipped regional HR and internal communication leads with promotional toolkits.
A unique web page and QR codes for frontline employees not on the PepsiCo network.
Incentivized registration and for employees to take the financial health checkup.
Regional reward teams attended on-site benefit fairs in select countries.
Utilized nudge to promote wider benefits during key social awareness events, including National 401(k) Day and World Mental Health Day.

Learn more

"We use a lot of the different channels that are available to us and sometimes we need to get very creative… We do quite a bit of listening and surveys to give us an education into the channels that specific cohorts would prefer."

Barry O’Brien, Senior Director, Global Retirement & Financial Wellbeing, PepsiCo
Global benefit edu-action, nudge webinar

The results

Employees have access to financial education across 59 countries

of engaged employees have used nudge +3 times since launch

of employees who engaged with the National 401(k) Day campaign made contribution changes

"We are starting by focusing on building financial literacy which will be a multi-year journey through our partnership with nudge. I'm super excited about the ability to drive action and learning through the nudge content and signposting our folks within the ecosystem."

Barry O’Brien, Senior Director, Global Retirement & Financial Wellbeing, PepsiCo
Global benefit edu-action, nudge webinar

Download PepsiCo story

Are you ready to take your global program to the next level like PepsiCo? Get in touch today.

Hear more of the PepsiCo story

Get further insights and top tips from PepsiCo on how they rolled out their global financial wellbeing program in our on-demand webinar, alongside P&G and Fanduel.

Watch now

Frequently asked questions

Here are a few of our frequently asked questions.

What are the key features of nudge?

The nudge platform helps you to better understand your finances, take action and plan your future. Key features include:

Financial health checkup: Complete a short questionnaire to understand where you're thriving and where there's room for improvement - from saving and spending, to borrowing, learning and planning. You’ll get an instant score and a plan of recommended financial education to improve your financial health.
Prompts and reminders: When there’s an event in personal finance you need to know about or a financial action you ought to take, nudge will send you a personalized, timely prompt – or ‘nudge’. People on nudge can choose to receive their nudges via SMS, email, WhatsApp, Slack and/or Workplace by Meta.
Personalized feed: Packed with the latest financial news and information, delivered to you in bite-sized, jargon-free education. In one click, save and review later - or share with anyone you know who may find it useful.
Financial education stories: From everyday money management to more complex finance topics, stories answer your money questions and develop your financial skills and knowledge.
Money management tools: Our selection of interactive tools help you plan, prepare and organize your finances. Whether you need a helping hand with budgeting, managing debt, or modelling out savings or investments, our tools are easy-to-use and built around you so you can make your money go further.

Why is financial literacy important in the workplace?

Employers are in a unique position to provide the kind of financial education that can change lives. By incorporating financial education into their benefits program, organizations can ensure employees have the tools they need to thrive.

With nudge, you can expect:

34% greater understanding of employee benefits
21% increased take-up of benefits
15% increase in retirement contributions
66% more hopeful about their finances

What countries is nudge available in?

When it comes to financial education for all, our goal is to provide every individual with a consistent, personalized technology experience, with local financial education in local language. So, no matter where an individual is in the world, they receive personalized, localized and timely financial education.

With globally relevant financial education in 195 countries, nudge is the leading financial wellbeing provider. In 79 of these countries, users are enjoying financial and benefit education that is localized to their specific country. 40 countries are in local language, or languages where they are multilingual, e.g Canada (English and French), India (English and Hindi) and the U.S (English and Spanish).