The Benefit Of Financial Wellness Programs For Your Employees
Ask anyone and they will tell you that one of the most stressful things in life is money—how to get it, how to manage it properly, how to not run out of it, and the list of questions goes on.
For your employees, keeping their finances in check can be tough, but what’s even tougher is the adverse effects financial stress has to the overall well-being of your team. According to a 2020PwC study, 54% of employees are more anxious about their financial situation than other issues. Meanwhile, 35% say that financial stress has a negative effect on their ability to do their job well.
When your employees are financially unwell, they become distracted and sometimes even absent at work. Financial stress is also linked to many physical and mental health issues such as insomnia, migraines, depression and anxiety.
Your employees want you to support their financial well-being. In fact, they expect it now. According to a study by PwC, 78% of employees would consider leaving a company for another one that offers a financial wellness program. By implementing a total financial wellness solution, not only will your employees be happier and healthier, they will be more engaged, productive and present.
A total financial wellness solution will improve your employee engagement and retention, and give you a competitive advantage. It also provides your employees with the opportunity to achieve financial freedom and motivation to invest in their future with you.
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