Did you know that financial stress costs employers over $500 Billion annually? This is the equivalent of 11% of total salary expense.
The symptoms of financial stress include, but are not limited to, depression, anxiety, forgetfulness, sleeplessness, lack of focus, overeating, gambling, irritability, and GI issues. Employees may complain of these things at work or they may take excessive days off. It may be noticed in a reduction of productivity, missed deadlines, or behavior changes.
You care about your employees. You believe that people are the company’s greatest asset. But, what can you do? Employees do not trust you. Aside from giving them information about the 401(K), you are not in a position to teach employees about money, finances, or investing.
What do your employees really want?
Have you asked them?
(EMPLOYEES- please comment below what employee benefits you wish your employer would offer you 🙂 )
The benefits employees want are changing. They are no longer satisfied with the basic health/dental/401(K)/EAP package.
Employees today want things that make their lives better. Things like:
– free or reduced legal services
– meditation/yoga
– student loan payment assistance
– flexible hours
– ability to work remotely
– additional days off
– free food
– walking meetings
– financial stress relief
There are plenty of creative, low cost ways to do this. Have emerging experts come in to talk to employees. Offer webinars or teleconferences. See if maybe you have hidden talent within your employee pool. Or, maybe you can partner with other businesses in your area.
This is where a financial wellness program comes in. I am partial to my offer, which has a low cost per employee and can have a great return on investment, both for the company and your employees.
Make your human resources department a true business partner and raise the value of your company.