Providing financial wellness benefits to employees makes good business sense for a couple reasons. Financial stresses like saving for college or retirement can hamper employee productivity, so helping employees take control of their financial wellbeing can help alleviate some of that anxiety.
Providing creative benefits that go beyond 401(k) plans, like student loan repayment or debt management, can differentiate your company and show your employees you care about their lives outside of the workplace. This is especially important for small businesses that must retain top talent in order to remain competitive.
It’s not easy for most companies to recognize the value of providing financial wellness benefits. The challenge is getting employees to enroll in them.
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