The Best Kept Secret to Removing Financial Stress

March 09, 2017

financial stress

Jen Creech

financial stressAccording to the Guardian Workplace Benefits Study1, financial wellness was accounted as a significant issue of working Americans by an average of 40%.  The same study cited money “as the No. 1 source of stress for a majority of workers – followed by job security and physical health.

In the past two years, more workers have also shared that they find it increasingly challenging to meet their financial goals, including saving for retirement or college and managing their debt. However, there is a solution to remove their financial stress. 

Wellness programs are available that can benefit employees yet they are often underutilized.   The same study cited that despite all the wellness programs offered to them, less than half of employees actually participated in them. However, it was also discovered that employees benefit when they are actively involved in these benefit programs. Financial situations account for 33% of stress, and over 80% of those in the survey say that reducing their stress is important to them.

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Two Ways You Can Help Your Business Now at No Cost to You

Building a business takes the complete and total dedication of all involved. Making sure customers are delighted while ensuring you are getting the best return on your investments is paramount to success.

Finding ways to mitigate some costs can be a challenge.  First there is trying to promote your business with a minimal budget while at the same time ensuring that your employees are focused on building your business.

Here are two ways you can help your business now to address these costs:

First, financial stress is a major contributing factor to employee performance. Employees may miss work or not be focused on work because they are addressing a personal financial crisis.  This can be reflected in absenteeism, poor performance or a perceived need for employers to help these stressed employees by providing an ‘advance on their salary’ or a ‘one-time gift.’

To help alleviate this issue, your Company may have access to the FinFit Financial Wellness benefit.   This benefit helps educate and alleviate many of these financial stresses that your employees may be experiencing.  Encouraging your employees to be a part of this voluntary financial wellness benefit could be all they need to allow them to focus more on your business and not ask you for help when they have a financial challenge.

Secondly, your business may need to be heard more in the marketplace.  Today happens to be National Be Heard Day for small businesses.  We want to help you to be heard.

Share this article through social media and use the hashtags #nationalbeheardday and #finfit.  We will like, share and retweet your status update, connecting you to others doing the same thing.  If you happen to see this post after today’s date, that’s ok – we’ll still help you to be heard.

Taking these steps cost you absolutely nothing and can help your business be heard and help your employees become more financially fit, allowing them to focus more on your business.

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Helping Your Clients Stay On Target With Health Care Costs

health care costsYour clients may be looking for ways to help mitigate their overhead but still help their employees. One way for them to do so is to look at their health care benefits and provide a high-deductible health plan at a lower cost.

While this does help provide an avenue for your client to address some of their health care costs, their employees now pay an increased amount in out-of-pocket expenses (deductible, co-insurance, prescriptions, etc). This could have a significant impact on their employees’ financial goals, adding a level of stress that could impact their ability to perform their duties and, in turn, potentially reduce a company’s overall performance.

So, how can we help your client stay on target with health care costs while still providing an avenue to help their employees? 

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