Employee Benefits: Financial Wellness Contributes to Health
Wellness initiatives are the latest trend in employee benefit plans. Programs and services designed to help employees lose weight, control high blood pressure, cholesterol, and exercise are all great initiatives to improve their well-being. But what about their financial health?
Financial wellness is a challenge to many workers. It is also a key aspect to well-being. Physical health and financial health are not incongruous. Poor financial health contributes to stress, which can affect personal health and in turn further deplete financial resources. It’s a vicious cycle that is more interrelated than it seems.
On the employer side, investing in not only employees’ physical well-being but their financial health can contribute to better well-being overall and in turn improve productivity and retention. Investing in financial wellness helps employees to feel confident in managing their finances and feel more in control of their personal financial situations.
The mantra in financial wellness (and health in general) is that prevention is better than the cure. Encouraging small daily habits and behaviors coupled with a long term financial strategy can help improve financial wellness over all.
Looking after the financial health of employees has benefits for the company as well. Employees routinely cite benefits as a top reason for staying with a company. They feel more secure and taken care of. Good financial health also boosts retention rates and the improvement in overall well-being boosts productivity at work.
At Newman Crane, we understand the advantages of an Orlando Employee Benefits Plan. We offer options including planning for retirement, profit sharing plans, and traditional 401k plans and structures. We will work closely with you to create an attractive and affordable program. Contact us today for more information about our Orlando Employee Benefits program.