A workplace is the primary source of income to most employees. Providing the knowledge and resources your workforce needs, to their improve financial literacy is proven to have significant benefits at several levels of the organization. An Improved financial literacy also helps your HR and Payroll teams.
Here are just some of the the benefits.
A Less stressed workforce & Improved Productivity
Studies show that employees who know how to invest their money well tend to be less stressed compared to those who don’t.
This is also known to reduce absenteeism, and increase productivity, as employees find it easier to focus on work.
Reduced overhead for HR & Payroll
A significant overhead for any HR department are queries related to insurance, taxation, salary and tax-saving.
This workplace wellness program helps significantly reduce this overhead as employees become much more educated on all aspects of investing, insurance and taxation. This directly leads to reduced support loads.
Increased employee retention and engagement
Studies indicate that organizations which offer financial wellness programs and resources to their employees have
- Higher employee retention
- Increased employee engagement
Increased job satisfaction
Job satisfaction levels of the workforce is also known to increase since employees appreciate the organization for providing an unbiased financial wellness program that is hard to find otherwise.
But there are countless more benefits as well.