Financial wellness has become a buzzword in recent years, with employers and financial institutions alike touting its benefits. We certainly agree financial wellness is important and beneficial, but it’s crucial to understand that financial wellness is not just about retirement savings, investment coaching, or traditional financial planning. In reality, financial wellness should encompass a broader … Traditional Financial Wellness Isn’t Enough
Financial wellness transcends the simplicity of receiving a regular paycheck. It envelops the comprehension and effective management of one’s financial resources, enabling individuals to meet their life aspirations, address sudden financial burdens, and attain a sense of financial security. In today’s intricate economic environment, individuals face a myriad of financial challenges, making it paramount for … Supporting Employees – Fringe Benefits
In the fast-paced, economically-driven world we inhabit, discussions around health often revolve around the physical and mental health. However, there’s a third dimension of well-being that is equally vital, though perhaps less talked about – financial wellness. This concept doesn’t merely pertain to the size of your bank balance or the number of assets you … Financial Wellness and Its True Meaning
Step 1: Survey, Your Population – understand your populations wants and needs. Take a look at your employee’s overall health and interests.
When it comes to launching a successful financial wellness program, several factors can drive program success. Investing in a program is a significant first step, but it’s also essential to have a strategy when it comes to launching the program.
The Wellness Industry has changed significantly over the last few years, and those changes play an essential role in the wellness vendor ecosystem. For years comprehensive wellness vendors dominated a large portion of the market.
Before the pandemic, the number of individuals who reported feeling moderate or extreme financial stress was 39%, but during the pandemic, that number has risen to 62%. The reasons for the increased stress are attributed to several financial concerns.
As a human resource manager, you have had the most challenging job of all. Human resources centers around people—the people who make your organization’s identity. As HR professionals, you support colleagues, some of who are their closest friends. You help your peers navigate payroll, benefits, training sessions, best practices, hiring, terminating, furloughing, and much more. These business functions were tough enough to manage before the pandemic, sometimes even underappreciated, but now you have to show up, encourage your peers, and roll out and communicate this changing work dynamic in a world full of unknown, not just for them but for you.
