Four Reasons an employer should consider a financial wellness programme

At Super-Advice we are about all things financial, but more importantly, helping people understand so they can get ahead financially.

In today’s blog post we share with you reasons an employer should consider a financial wellness programe for their employees.

1 Overall Wellness

Financial wellness makes up a large percentage of overall wellness. If you think about it, everything costs money.

If there’s a shortfall, it is going to be stressful.

If an employer can help an employee deal with that, that’s going to be a good thing for everyone.

2 Presenteeism

Presenteeism means that you may have an employee at work, however, because they are worried about something they are very distracted.

One example might be that they are worried about money and they might be staring blankly at the screen not paying attention to work.

Therefore tasks are not being done as efficiently as you would like.

Having financial woes is a very easy position to find yourself in. . Money worries are one of the leading causes of presenteeism

3 Cost of living

It’s June 2022 and inflation is running rampant. Everything’s getting incredibly expensive. Just look at the petrol pump.

It’s very difficult for businesses to keep pay in line with inflation. It’s quite often not possible at all. So if you can, in turn, offer your employees a program that allows them to be better, and provides lots of education around how to better manage money and manage your financial situation, you will be adding a lot of value.

Where does a standard working Kiwi go for financial advice these days? You can’t really rock into your bank branch and say, “I need some financial advice” to the teller.

You could track down a professional financial adviser and they can write you a plan for $2500.00 or more.

Or there is another option, which is a financial wellness programme provided by an employer to their employees.

4 Attraction and Retention

Reason number four is it is an amazing attraction and retention tool. We are in a low unemployment environment at the moment.

So you want to both retain, and when necessary, attract talent. Being an employer that promotes the fact that they care about their employees, and want to provide them with extra benefits to help them be fantastically well educated on financial matters, and to get ahead financially, you will find that it’s a great attraction and retention tool.

That’s a wrap

At Super- Advice, we offer a financial wellness program, reach out and get in contact with us and we will be happy to talk to you about it.

If you need any financial help or advice please get in touch with us at Super-Advice.

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