True or false? Your employees' overall health and well-being has nothing to do with their financial status.
When employees experience financial struggles, their overall health and well-being is likely to decline. Here’s a breakdown of how financial troubles can lead to much larger issues:
- Social: Turning down team bonding activities (happy hours, lunches, outings) to save money.
- Community: Avoid participating in company-wide fundraisers or giving back charitably through an employer-sponsored giving program.
- Career: Actively looking for other jobs that pay more money or finding part-time work in addition to their full-time job.
- Physical: When your employees are stressed (especially financially), it can lead to a whole host of health-related issues, which can cause absenteeism, productivity loss and skyrocketing health insurance claims.
- Emotional: Seventy-two percent of Americans said they felt stressed about money External Site and 22 percent felt extreme stress over their finances. Not only does financial insecurity cause stress, it fuels other emotional issues (e.g., depression, anxiety, fear and panic) as well.
Financial well-being is an issue for many of your employees
From your front-line workers to the c-suite, there is financial insecurity at all levels. And, while you may offer your employees a comprehensive benefits package that includes core medical coverage, dental, vision, well-being programs, 401(k) or pension programs, and more, it’s likely many of your employees aren’t contributing enough — or at all.
Free webinar: Rethinking financial well-being in the workplace
Unsure of where to start in guiding your employees to financial well-being success? Well, you're in luck! Wellmark's very own employer well-being consultant, Cory Jackson, will host a free webinar where you will learn how to:
- Decipher the differences between what employers and employees want out of a workplace financial well-being program.
- Define what financial well-being is, and how it’s different for each employee.
- Understand the effects of financial well-being on your employees' health and productivity.
- Incorporate financial well-being solutions or programs into your workplace.
What are you waiting for?
Clear your calendars for Wednesday, June 26 from 10 - 11 a.m. Register for your spot today! External Site Questions? Contact your authorized Wellmark representative, or email us at firstname.lastname@example.org Send Email.
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