Stress Is Bad For Your Bottom Line
Any kind of stress can have a severe effect on productivity in the workplace, and financial issues just so happen to be the most common stressor among employees. When your employees are spending so much time and energy stressing over their finances, they simply don't have the mental resources to put towards being truly inventive and productive at work. In order to maximize productivity, you need employees with clear minds. Stress also contributes to other workplace productivity killers like lack of sleep, illness, and absences.
Wellness Programs Are On The Rise
Because financial stress is on the rise, many businesses are choosing to make financial education and assistance a core part of their overall employee wellness strategy. It's unlikely that this trend will go away anytime soon as long as the economy is uncertain and employees continue to experience so much financial stress. As employees and job seekers come to expect financial wellness programs, businesses that choose to ignore this may end up left behind in the dust. Attracting and retaining talent is already hard enough these days, so it's important to keep up with important trends in the business world.
Reduce Stress And Increase Productivity By Encouraging Financial Wellness
As an employer, there are many things you can do in the workplace to encourage wellness. The great thing about wellness programs is that they can easily be scaled up or down to meet the needs of your employees and integrate well into your current workplace environment. You could do something as simple as passing out financial literacy worksheets, detailing common issues like budgeting and savings, or you could completely individualize the process and provide every employee with financial coaching sessions with trained professionals.
Another common and relatively inexpensive tactic business are implementing is "lunch-n-learn" programs, where employees congregate for a social lunch and a seminar on finances. This is a good option because employees don't feel like they are being singled out and it lightens the atmosphere of what can be a very heavy and unpleasant topic.
Rest assured there's a way to integrate employee financial wellness into your workplace, whether you have a huge employee wellness budget or you need to start cutting costs. Whatever your needs are, it's important to find a partner who can work with you to create innovative and individualized programs for your workplace. There are no one-size-fits-all solutions to issues like financial stress and what works well in one workplace may not work at all in another.
At Summerlin-Roberts we know how important it is to create a positive and engaging workplace for your employees, and financial wellness should be a part of this plan. Please contact us today to learn more about our employee wellness programs.