We have talked a lot about employee health and wellness programs on this blog in the past, but according to a recent
USA Today article, there is a new type of employee health program gaining popularity among employers. Employee financial health is a new priority for employers and it is having a real impact on employee productivity. The main premise for employee financial education is that if there is no financial stress in employees' lives, they can be at the peak of productivity. Three main goals for employee financial health initiatives are:
- Minimal financial stress
- A strong foundation, including minimal to no debt, a savings account and learning to live below their means.
- A financial plan that helps set and meet future goals.
For employers, they should work to clear their employees minds of all appropriate distraction. Financial literacy is not something taught in schools and often not something learned in adulthood. Providing a learning center for employees to learn how to be financially responsible there will be long-term loyalty and stress reduced to the point of higher productivity.
