Financial Wellness

Financial Wellness
Initiatives Spur Employers Overall Productivity Levels

Although the financial crisis and pandemic may be further in the rear view mirror employees still look to employers to provide guidance on resources to help with their challenges.  Wellness programs driven by health care initiatives receive more recognition but a basic financial education program in the workplace that incorporates coaching on budgeting, debt reduction and credit management may still be the best driver to improve employee productivity levels.

The move by employers to implement cost-shifting strategies on various benefit programs also has driven employee survey participants belief that companies have a moral obligation to do something to help them migrate the new economic landscape. The growing view is that employers have a responsibility to provide access to ongoing financial education to help them make appropriate financial decisions. 

The employer view is that there are more important priorities and that this type of interaction may interfere with employee work time. The basic facts point to the opposite occurring with improved employee productivity through reduced work hours allocated to personal financial issues.  Satisfaction levels on the perception of all benefits offered to employees are also increased as a result of Financial Wellness programs.  Employee Assistance Programs (EAP)for other facets of life to support employee productivity are also not just for large employers.   

To learn more about how financial literacy, wellness, and (EAP) programs can benefit your company bottom line contact us