Recent Articles in Financial Wellness
Financial wellness programs are such recent optional additions to many employee benefits packages that even CEOs and executive directors are not sure what they entail. And who can tell the difference between financial literacy, financial capability, and financial wellness programs? If such ridiculous questions keep you up at night, well, besides considering professional counseling, you have come to the right place.
There is a growing amount of evidence that financial wellness programs offered in the workplace have the power to alter the trajectory of employee lives for the better.
The idea of providing a financial wellness program to employees seems to be a recent development, but if you consider that the 401K is also a financial wellness benefit, we can agree that the history of financial wellness programs is older than it appears to be at first glance.
Unfortunately, poor money management often includes poor spending behaviors. It seems that human nature dictates that, as long as there is no plan in place, the more money you earn, the more money you will spend.
Wouldn’t it be helpful if you could know ahead of time when an employee is about to ask you for a paycheck loan so you can be prepared with a well-thought out response?
Experienced HR professionals, CEOs, executive directors and managers know this from experience. Fortunately, most employees know they are expected to leave their personal issues at home and not let them affect their work.
Employers typically play an authority figure role in the lives of employees. Such credibility, when used properly, can provide employees with important guidance and help in their lives outside of work.
How can you, as an employer, approach employees that you believe are struggling with debt? Let’s look at some of the signs to look for and what options we have in regards to addressing the potential issue.