National Financial Literacy Month is celebrated in April. This is an excellent opportunity to promote financial well-being for employees, as it is often a neglected well-being component.
Did you know that 1 in 4 employees say that stress over finances is a big distraction at work?
In addition, 7 out of 10 employees say that financial stress is their most common stress. Developing and establishing financial well-being in the workplace will have important benefits for everyone.
You will attract and retain talented employees, you have a better chance of lowering health costs and your employees will have increased productivity and will be better prepared for a rainy day. Retirement will not be a scary thing but rather something the employees have to look forward to as well.
How do you currently manage financial well-being in your workplace?
Do you give employees the push they need with automatic registration, keeping the number of investment choices easy, mobile access, recognizing language barriers, along with additional floor plans? Unfortunately, this is a topic that can not be addressed just once a year for employees to really benefit from it. Think about how else you can add this topic to your wellness program.
Food and entertainment are often components that encourage employees to participate. Think of this financial well-being challenge created by our health and well-being consultant.
For more information on financial well-being, contact a Knowledge Broker today.