Employers that take a vested interest in the financial wellbeing of their employees are reaping the benefits of a healthier and happier workforce. The key is how to combine financial wellness with traditional wellness benefits. Some traditionalists still think that a pay cheque is compensation enough for employees, but studies have repeatedly shown that a financially literate workforce can produce more and significantly impact the company bottom line.
Traditional wellness benefits can take on many forms depending on the nature of your business. Some common wellness benefits include:
- Gym Memberships
- Fitness and Diet Programs
- Smoking Cessation programs
- Childcare benefits
These benefits have proven to be effective in creating a physically healthy workplace environment. But what about financial health? Financial stress does not only cause problems at home, it affects the employees’ performance at work as well. It is the difference between wanting to improve on the job and just showing up to work because they need to pay bills.
Some common issues with employees include poor performance, absenteeism, low morale and low productivity. These are often symptoms of a much bigger problem. According to a 2014 survey by the Financial Planning Standards Council, Canadians have ranked money as their greatest source of stress.
How do you combine financial wellness with traditional wellness benefits? DENT Benefits specializes in organizing financial education seminars for your employees. The key is to provide real solutions that your employees can implement immediately, rather than turn it into a sales pitch that pushes investments. Improving knowledge, skills and confidence with money enable employees to better manage debt, save for emergencies and plan for their retirement.
If you want to learn how to combine financial wellness with traditional wellness benefits, contact DENT Benefits and speak with one of our employee healthcare specialists.
The information in this material is derived from various sources. Material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources; however, no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please contact us for benefit, pension and insurance advice based on your corporate or personal circumstances.