Financial wellness benefits are part of this larger trend toward more customized benefits, and that too is likely to continue well into 2016 and beyond. As more companies are looking to engage workers with the right benefits options at the right time that they need it, creativity and strategic development are key.
Driven in large part by the influx of younger workers, employers are evolving their voluntary benefits programs to reflect the post-recession economic realities that workers are facing today. It’s all about a more personalized experience, expanded choices, tailored options to meet the workforce’s varying needs. Many employers are now seeing multiple generations of employees from within the same households and a variety of dynamics surrounding level of debt and life events even with in the same segment or job class.
For employers, a Voluntary Benefits package that includes one or more programs focused on financial wellness- to help workers reduce, or at least better handle, stress about money and debt offered alongside other wellness initiatives to improve physical and mental health, will directly result in lower absenteeism and turnover as well as a rise in productivity.
For employers, a Voluntary Benefits package that includes one or more programs focused on financial wellness- to help workers reduce, or at least better handle, stress about money and debt offered alongside other wellness initiatives to improve physical and mental health, will directly result in lower absenteeism and turnover as well as a rise in productivity.
