Employee wellness is foundational to any successful business. As many of you know, I spent nearly 15 years leading human resources for companies with thousands of employees and I spent a significant amount of time looking for and evaluating employee wellness programs. Finding programs that focused on physical or mental wellbeing was relatively simple–there were dozens (maybe hundreds) of those programs from which to choose. Finding programs that focus on financial wellness was much more difficult. I could find programs that emphasized the importance of saving for retirement in a 401(k) plan and, without a doubt, saving for retirement is important. But if your employees are among the 64% of Americans who can’t cover a $1,000 emergency or the 58% of Americans who are living paycheck to paycheck, the idea of retiring is a fantasy they can’t begin to imagine.
You don’t have a chance of meeting your company’s KPI’s without a well-rounded wellness program that benefits your team’s mental, physical, and financial well-being. If your employees are worried about how they are going to make their rent payment, they simply can’t fully focus on their jobs. And with inflation at forty year highs, it’s likely that more of your employees than you think are struggling with their finances. Your employees need help in taking control of their day-to-day finances, creating enough cushion to handle financial emergencies, and staying on track to meet their savings and retirement goals. And if you are a business or HR Leader, providing that help is a great way to show your employees that you care about them. It’s one of the pillars of your overall employee wellness program—because financial wellness is essential to what it means to be well. Business and HR Leaders have the unique opportunity to meet their employees where they’re at, give them something that they actually need, and improve employee performance and retention in the process.
If you are a Business or HR Leader looking for someone to train your employees on topics like basic household budgeting, money traps to avoid or how to read a credit report reach out to me today by using our online form or calling me directly at 904-412-8739 to schedule a Free Consultation. We can help provide your employees with the information they need to make better financial choices, and be more productive at their jobs.
