Once upon a time, maternity leave was a hotly debated perk. Why, some asked, should an employer make it their business to interfere with new mom status?
What does it really have to do with my business, some asked. We now appreciate that new mom status does affect businesses and employers that smooth the path for these newbies to have their baby and return to work are actually benefitting the workplace. Nowadays, it’s about financial health. Employers are coming to grips with the fact that their employees, clearly more than half of them, are seriously stressed about their financial picture, so much that it adversely affects productivity. Nor is it just senior staff, potentially figuring out how to make their retirement work, or middle-aged parents with expensive older children. Research is proving that even GenZers are feeling the cold grip of fiscal concerns. Research also shows that fiscal concerns can leak into other mental arenas, causing mental lapses and problems and ultimately even affecting physical health, because of the constant stress. On the plus side, helping employees with their fiscal skill-sets is a benefit that keeps giving. When employees feel that they are becoming better money managers then they are likely to become happier and better employees.
- One way to encourage participation in the program is to demonstrate how it can make a difference in their career.
- Your staff will perform their jobs better if they have a better understanding of how to manage their finances.
- You can integrate two different types of wellness classes to promote physical, mental, and financial well-being.
“Why the jump? Because financial wellness programs are actually more than just a benefit: They’re a business strategy.”