With more employees saying that money is stressing them out and causing them to miss work or underperform, companies are increasingly expanding their benefits into “financial wellness” offerings that go beyond retirement. An Aon Hewitt study found that 93 percent of large companies are planning to broaden their efforts on financial wellness beyond retirement decisions.
In addition to helping workers, robust financial wellness programs can also help companies’ bottom line. Several studies have shown that financial wellness programs can lower employee absenteeism, increase productivity; lower healthcare costs and reduce delayed retirement due to financial reasons.
In an October 28 article in Forbes.com, Beth Braverman outlined five benefits more companies are offering to help workers get on firmer financial footing:
- Help with choosing a health plan.
- Access to a financial planner.
- Help with student loans.
- Personal finance lessons.
- A more holistic view of retirement.
Read the complete article for detail on the five benefits.