What does it mean when you discuss the “financial well-being of employees?” Is it something we should all be aware of as we work hard to contribute to the workforce? If we are looking for the next job opportunity, should we be asking what types of financial well-being programs an employer has in place? There is a recent trend that shows more employers are focusing on an employee’s overall financial well-being. In fact, in 2016, 56% of employers began to embrace and assimilate programs into their companies that focused on an employee’s well-being. So what does this all mean and how does it affect you – the employee?
What this means is that companies are starting to show more compassion towards their staff by being more proactive when it comes to ensuring employees are more educated on financial matters and long-term financial planning. Some companies are bringing in counselors to speak with their employees about their finances and their strategies for the future. This trend is not exclusive to large corporations, as many small companies are also joining in on this powerful trend. The last thing a company wants to see is someone they respect and pay well go into financial ruin because they were not properly educated on how to handle their finances. If a company can offer education of healthy eating and provide discounts to the gym, they realize they should also be offering financial education to their employees.