As a business owner, financial wellness is just as important for your employees as it is for you. Ensuring that employees aren’t stressed about finances will not only benefit them, but you can also benefit from more focused, loyal, and satisfied workers. Here are some ways that you can boost financial wellness for your employees this year:
Just because your company offers a retirement plan, doesn’t mean your employees know how to make the most of it. The concept of investing money and financial planning for decades down the road is overwhelming for a lot of people. Or retirement can seem too far away for an employee to understand the importance of planning for it now. Offering retirement education is a huge opportunity for new employees to enroll in the program and current employees to boost contributions. You’ll also have a hand in assuring your employees are looking out for their financial futures.
Offering good healthcare benefits can be the catalyst for company growth. While salary is usually a determining factor in accepting a job, a recent study showed that 60% of employees would take a job with lower pay but better benefits. Employees are becoming more concerned with out-of-pocket medical expenses and increased cost in health insurance, which means a mediocre healthcare plan could be a deal breaker for many. It’s important for your employees and your company to talk with a consultant about health plan options such as HSAs, dental plans, disability programs, and more.
Employees want more control over their finances, and it’s easy to give that to them by offering payroll services like Associated Bank’s Bank at Work program. Popular features include direct deposit into a secure checking account, immediate availability for withdrawal, and online banking with access to check images.
Financial wellness is just as important as physical or mental wellness. In fact, they go hand in hand. When your employees aren’t stressed about finances, they tend to be overall happier, less stressed, and come to work with a more positive attitude. Schedule an appointment with your banker to go over all the options that make sense for both your business and your employees.
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