You Can’t Help Employees Achieve Wellness Without Talking About Money

A basic truth that wellness committees can embrace: People evaluate their well-being in financial terms before they do so in health terms. If they feel pain in the pocketbook, then the seemingly priceless details in your conventional wellness communication might be worthless to them. Money issues are dominating your employees’ brainwaves, so including simple financial perspective into wellness communication should be a no-brainer. Unfortunately, timely financial tips and messages about preventing financial stress are left out of most messages employees receive. Throughout your organization, workers feel worried about their bank accounts, credit card statements, and retirement plans. Many of them lack basic knowledge about savings, spending, debt, and investments. “A basic truth about finances is that everyone has concern, not just people who are struggling,” says Bill Russo, a certified financial planner and the principal of Concord Financial Planners in Solon, Ohio. “Those issues can begin to take on a …

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Finances: The #1 Concern of Employees at Home & Work

What consumes the thoughts of your employees more than anything else both while they’re working and while they’re at home? Sure, occasionally the answer to this question will be politics, family, or health, but most of the time the one concept which consumes our thoughts the most is money. By no means am I suggesting that people are obsessed with money, but the reality is our lives are dictated by our need for our incomes. From the moment we get our first jobs, we create expenses to match our incomes. And as our incomes rise, we accumulate more expenses. For some, expenses accumulate faster than their income increases. Based on the latest research, the population of Americans who have more expenses than income is growing. The 3 Primary “Jobs” of Money Unfortunately, the problems don’t stop there. When we earn our incomes, the money has three primary jobs: First, the …

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This Workplace Epidemic Is Costing Billions

In today’s world, many workers are worn down and some completely wiped out due to inadequate rest and sleep. Make sure your workplace wellness program addresses this issue or you may find that employees aren’t the only ones drained. It’s estimated that lack of sleep costs U.S. companies $63 billion in lost productivity each year. If Your Team Is Too Tired, It Could Mean Trouble For Everyone Nearly seven in 10 U.S. workers said they work while tired, with nearly one-third (31%) saying they do so very often, according to this 2016 survey. Survey respondents indicated their drowsiness led to: Being easily distracted (52%) Procrastinating more (47%) Being grumpy (38%) Making more mistakes (29%) Some of the admitted big-ticket blunders included: Making a $20,000 mistake on a purchase order. Deleting a project that took 1,000 hours to complete. Missing a decimal point on an estimated payment and the client overpaying by …

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Focusing on Employees’ Personal Financial Well-Being Pays Off

Personal finances can have a huge impact on your employees’ overall well-being. When you care about your employees and your organization, it’s a no-brainer — you make sure you’re including financial well-being in all workplace well-being efforts. According to PwC’s 2017 Employee Financial Wellness Survey, financial stress is costing companies. 53% of all employees are stressed about their finances. Nearly 1/3 of all employees are distracted by personal financial issues while at work. Almost 1/2 of them spend 3 hours or more each week handling personal finances at work. Those who are stressed about finances miss work on account of their personal financial issues and often cite health issues caused by financial stress. “These findings are concerning and potentially significant for companies looking to evaluate the return on investment of a financial wellness program,” wrote Kent E. Allison, a PwC Partner and National Practice Leader. But, let’s be honest, there is more at …

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