Key Takeaways
- Employees report that financial worries impact them at work.
- Financial stress contributes to lowered productivity, higher turnover and distracted focus at work.
- A no-cost employee financial wellness program can help improve financial health and confidence.
In today’s economic environment, financial health is top of mind for many employees. As an employer, offering an employee financial wellness program can help your team ease worries about:
- Repaying student loans
- Starting retirement planning
- Learning and using budgeting tools
- Building emergency savings
Financial Stress Impacts Job Performance
Financial stress has a big impact in the workplace. In fact, 57 percent of respondents to a recent survey cited finances as the top source of stress in their lives. Worrying about money affects your business too. The stress your employees feel impacts job performance in very real ways, potentially impacting your organization through:
- Lower productivity
- Reduced employee engagement
- Increased turnover
- Difficulty maintaining focus
Employee Financial Wellness Program Benefits Last a Lifetime
Investing in your employees’ financial health delivers lasting value. By offering an employee financial wellness program, you’re equipping your team with practical knowledge they can use for a lifetime.
At the same time, your organization benefits from improved morale, stronger employee engagement and increased retention. It’s a cost-effective way to support both your people and your business goals.
Help Your Employees Improve Their Financial Health for Free
Lake City Bank’s Financial Wellness Partner Program, for example, is available at no cost and structured to fit your company. Workshops are designed to improve financial health. You choose the topics and provide space at your location. We provide the instructor and all the materials.
Choose any or all of the following six workshop topics for your employees
- Budgeting: How to track income and expenses and prioritize spending when money is tight
- Credit: The basics of credit reports and scores, and tips for repairing and improving both
- Health Savings Accounts: What a Health Savings Account (HSA) is, how much to contribute, and the expenses it can cover
- Lending and Mortgage: The different types of loans, how the loan approval process works, and information specifically about getting a mortgage
- Protecting Your Identity: Safeguard your identity and sensitive personal information online and what to do if your identity gets stolen
- Savings and Retirement: Build emergency savings and plan for retirement
Supporting your employees’ financial health doesn’t have to be complicated or costly. With Lake City Bank’s Financial Wellness Partner Program, you can help reduce financial stress, improve employee engagement and empower your team for the future.
To learn more, contact Justin Taylor at justin.taylor@lakecitybank.com or (317) 348-1519.
