How Financial Wellness Programs Reduce Stress
The Weight of Financial Stress
Financial worries heavily impact employees’ mental health and productivity. A 2023 PwC Employee Financial Wellness Survey found that 60% of full-time employees experience financial stress, with 57% citing it as their primary stressor. Financial wellness programs can ease this burden, fostering a healthier, more focused workforce.
Why It Matters
Stress from debt, budgeting, or retirement planning leads to burnout and absenteeism. Financial wellness initiatives, like budgeting workshops or debt management tools, empower employees to regain control. The PwC survey notes that employees with access to financial wellness resources report lower stress and higher engagement, with 73% more likely to stay with employers offering such support. Small businesses can implement these programs affordably to boost retention.
Actionable Tips for Small Businesses
Integrate cost-effective financial wellness solutions:
- Host Free Workshops: Partner with local advisors for budgeting seminars.
- Offer Digital Tools: Use apps like Mint or YNAB for affordable financial planning.
- Subsidize Counseling: Provide access to financial advisors via Employee Assistance Programs.
- Promote Education: Share free resources on saving and investing.
- Consider Exectras Membership: We partnered with Enrich to provide a personalized hub of deeply informative financial content, personalized recommendations, and a host of resources to our members and their employees.
Build a Resilient Workforce
Financial wellness programs reduce stress and strengthen your team. Start small to create a thriving, focused workplace.
How We Help
Exectras Membership gives you and your team access to a myriad of benefits, including financial literacy tools. Take pressure off your team and grow loyalty by empowering them to build their legacy.