Business

How Can Workplace help Employees in Financial Wellness?

The idea of the workplace has changed so much over time. Today the modern workplaces make it a point that their employees are as comfortable as possible. Napping areas to game centres, most of the workplaces have it all to make the employees feel as much ease and at home. One of the main reasons why workplaces go a step forward in assuring the utmost comfort to the employees is that it affects their productivity too. Researches show that an employee who is stressed and pressurised would produce 30% decreased outcome compared to an employee who is happy in his/her workplace.

Other than the work pressure that might stress an employee, another reason for stress is often the finance. Financial stress can deplete the employee at various levels resulting in a drain on productivity and engagement. Here are a top two ways the workplace can help the employees in financial wellness.

  1. Financial wellness support

Helping your employees manage their finance would not just be a great help to them but would also reflect on the success of your company. Having financial wellness provisions and support would not only create an impression among them but would also take away half their worries. With excellent financial wellness support, you can make sure that your employees, as well as your company, are benefitted. Having policies where they can borrow a certain amount and repay in instalments would be a great help in time of need.

  1.  Financial wellness program

Conduct financial wellness programs and seminars for your employees. Once they learn how to manage their finances, they can come out of financial stress. Let them know the importance of financial planning and controlling and help them to practice it in their day-to-day life. The employees would feel valued and valuable and naturally be committed towards the work that they do. They will feel a responsibility towards their work and a need to impress them, which would result in the boost of productivity and performance of the company.

Companies that have employees with less financial stress tend to have a boost in their productivity. While financial stress often happens due to poor financial management, as a company you can see to the wellness of your employees by helping them come out of it. This would help your employees as well as your company. Having good mentors and consultants for your employees would be one-step towards it. Remember that employees are the wealth of your company. They can make your business a success or a loss.