Photos provided by Legacy Financial Partners
Financial wellness is a trending buzzword among companies and within human resources (HR) departments across the United States. Today’s employees expect benefits that enhance not only their work environment but also their lives. One of those benefits is financial wellness (1).
There was a time when offering a decent salary, a 401(k), and a health insurance policy was enough to attract and retain high-quality workers. Times have changed, however, and it’s important to consider what employees want from their employer and how to keep them loyal. Having benefits that show you care about employee well-being is a great start.
Studies show that
- 30% of Millennials say that incentives from their employer help them take steps to improve their financial well-being (2)
- 62% of employees agree that they’re looking to their employers for more help in achieving financial security through employee benefits2
- 42% of employees agree that employers have a responsibility for the financial wellbeing of their employees (3)
What are you doing to improve well-being and productivity of your employees?
10 Reason to Offer a Financial Wellness Program:
- Help employees feel satisfied with their current finances
- Encourage positive financial behaviors
- Increase financial knowledge
- Reduce stress
- Create strategies to help employees reach financial goals
- Help employees retire on time
- Improve the wellbeing and productivity of employees
- Increase employee retention and recruiting
- Help employees maximize their benefits
- Provide personal unbiased financial support for employees
When it comes to financial wellness benefits, there is a lot at stake. Not only can financial wellness benefits help create financial stability among your employees, thus helping to increase your company’s stability, but they can also reduce costs associated with hiring and turnover as you work to create a financially-well company culture.
With the recent volatility of the markets and layoff scares with the corona-virus, financial concerns are stressing your employees. There is no better time than now to reach out to financial advisors who offer financial wellness programs.
Legacy Financial Partners, a private wealth advisory practice of Ameriprise Financial, LLC offer financial wellness programs (virtually or in-person) for employers (large or small) throughout the Midwest.
Take action today to help improve financial wellness within your workplace.
Visit planwithLFP.com or contact Mallory Sand directly at [email protected] for more information on a financial wellness program for your workplace.
To visit Ameriprise’s Financial Wellness Program details go online to: ameriprise.com/fw/legacy-financial-partners
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- 2019Enrich’s2020EmployeeFinancialWellnessReporthttp://media.igrad.com/ docs/pdf/marketing/2020-Employee-Financial-Wellness-Report.pdf
- 2016 MetLife MetLife’s 14th annual U.S. Employee Benefit Trends Study, Opportunity is Knocking: How Benefits Lay the Groundwork for a Thriving Workforce https://benefittrends.metlife.com/media/1453/14th-annual-ebts_ opportunityknocking_insights_exp0718.pdf.
- 2017 MetLife’s 15th Annual U.S. Employee Benefit Trends Study.2018.
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