Cultivating a culture of wellness at organizations is a common trend for employers across the country. In fact, according to the Employer Health Benefits 2018 Annual Survey, 82 percent of large firms and 53 percent of small firms offer some sort of wellness program.
Historically, many of these programs focus on physical well-being, with employers creating programs intended to encourage smoking cessation and exercising. Unfortunately, health-conscious employers and employees alike often overlook one important component to wellness: financial health.
The Hard Truth
A recent Bankrate survey revealed that 65 percent of Americans save little or nothing at all from each paycheck. This, compounded with the fact that over 40 percent of Americans have less than $10,000 saved for when they retire, is alarming.
How You Can Help
When employees are stressed about money and saving for their long-term goals, the chronic stress can be detrimental to their overall health and workplace engagement. Investing in employee financial wellness can be beneficial to both you and your employees.
Consider implementing a financial wellness program that focuses on planning for the future and budgeting. You may want to bring in a financial expert or consultant for your employees as well.