Time is Money, Money is.... Stress?

With an increasing number of student-debt-riddled graduates getting jobs, employers should consider the effect financial wellness can have on employee productivity and the workplace. Indeed, financial illiteracy is problematic, some employers have learned. 

In a recent survey of new employees, respondents cited a lack of knowledge in personal finance and all the complexities involved as major stressors in their lives. Such problems are usually considered to be too personal and out of the realm of good business practices But some companies are working to help employees reduce stress through in-house counseling. This has proven beneficial to both employees and employers alike. 

Workplace stress is a major disrupter. Affected employees can harm morale, diminish productivity and cause numerous other problems. Helping them with questions about company related pay and other benefits often has the opposite effect. It shows them that management cares. Sound advice from a trained HR adviser helps reduce their stress about decisions regarding company-sponsored health benefits, pay structure, vacation time, retirement and 401- K plans and the like. 

Some employers have found that addressing problems relating to financial illiteracy is a major piece in the puzzle of achieving workplace wellness. For recruiters, proving to prospective employees that your company cares about such issues can move your business to the front of the pack. This is especially true regarding recent graduates who are worried about astronomical student debts. Stress associated with this can be great, and the toll it has on one’s health even greater.

Financial wellness is not something typically on the list when considering the importance of employee health and productivity. But carefully incorporating sound advice into a corporate wellness program, usually makes for happier, more confident and more productive employees in a pleasant, more engaging working environment.

Stress is one of four determining factors in the development of chronic disease.  Being overweight, exercise, and diet are the other three determinants. As an individual and as an employee, you have control over your own health and can help your coworkers.  Putting the education and wellbeing of your employees first could save their lives and save your workplace morale. Showing your employees that you care by initiating these conversations about their wellbeing is the first step in changing your workplace for the better.  Schedule a consultation with me, where we will design a custom plan for your company and turn your employees’ lives around.

Lisa Burbage