Money might make the world go ‘round, but it’s also a major stressor in many employees’ lives. A recent survey showed that 53 percent of employees are stressed about their finances. What’s more, a report by the American Psychological Association® says that 22 percent of adults have experienced extreme financial stress.
That stress has an effect in the workplace, with 36 percent of employees saying their financial concerns affect their ability to do their job. So, it’s no wonder that 84 percent of large- and mid-sized companies are offering employee financial wellness programs—up from 76 percent the previous year.
If you’re considering a financial wellness program at your company or looking for ways to improve your current program, check out our list of financial wellness ideas and financial giveaways to help your employees get more fiscally fit.
Encourage employees to set a monthly budget
According to a study by U.S. Bank, only 41 percent of Americans use a budget. Encouraging your employees to set up a monthly budget can help them start saving for unexpected financial troubles. Offer them financial giveaways to make it easier.
Help them create a budget—and stick to it—with a pocket slider they can use as a reference for everything from financial planners to money market accounts. This book on managing finances lays out simple budgeting tips and the best way to spend funds. And a simple tally book will help them track monthly expenses.
Provide information about employer financial benefits
Many employees don’t fully understand the financial benefits their company offers, from 401(k) matching to medical savings plans to life insurance. Your employees would benefit from group learning sessions, a personal discussion with human resources, or a reminder of where to go online to learn about their employee financial wellness benefits. Help them keep that web link handy by printing it on a pencil made from recycled money.
Offer one-on-one professional financial advice
Employees seek personalized financial advice that is tailored to their unique situation. Provide access to an internal or external financial expert who can help them achieve their financial goals, from preparing for retirement to buying a house.
Get to know what your employees are striving for and provide financial giveaways to match. Prospective home buyers will appreciate a Home-Buying Pocket Slider to help them understand everything from interest rates to home inspections. And a Loan-Payment Calculator Pocket Slider will help them determine monthly payments based on interest rates and loan years.
Financial wellness is a monetary win for all
Helping your employees understand their finances can help them worry less—allowing them to focus on doing their best work. With the help of a financial fitness program and financial giveaways, you can help your employees get fiscally fit.