In today’s competitive employment market, employers are increasingly focused on how to improve employee satisfaction and promote employee health. Many employers are moving to more flexible working environments, building fitness centers, and offering healthier options in their cafeteria facilities.

But, as employers continue to search for new ways to positively impact their employee’s lives, they have begun to look beyond their employees’ physical needs and have turned their attention to some less traditional definitions of wellness. They are taking a more wholistic approach by looking at the impact of stress and anxiety on their employees’ mental health.

The World Health Organization defines health as a “state of complete physical, mental, and social wellbeing and not merely the absence of disease or infirmity.”

There are many factors that influence a person’s overall health. However, recent studies show that financial stress is one of the main determining factors in overall personal well being. One of the areas of life that largely determines one’s social health and, in turn, overall well-being is finance. In a recent survey, money was found to be the number one source of stress in America today, and with higher stress levels comes poor financial decision making. 86% of people who responded to a Money and Mental Health survey said that their financial situation had made their mental health problems worse.¹

Results have shown that financial education combined with money management coaching can provide a significant benefit to employees dealing with economic stress. Nearly 60% of employees with access to a financial wellness program reported improved mental and emotional wellbeing. This also translated into less stress in their family relationships and greater overall satisfaction with the job and their personal lives.²

As more companies implement Financial Wellness programs, a few critical elements have begun to emerge which help employers increase the overall engagement level of their employees and to maximize the impact on employee satisfaction and overall wellness.

At Tax & Financial Group (TFG), we know that your employees are an important part of your business. Their collective knowledge, experience, and commitment help define your culture and contribute to your company’s ongoing success.

In appreciation of the value that they bring to your company, you provide them with competitive salaries, bonuses, and exceptional benefits. Working for your company will help them achieve their professional goals. It can also help them achieve lasting financial security. But we know that having the right financial package is only part of the solution. Financial security also means making thoughtful and well-informed financial decisions.

Your TFG Financial Professional can work with you in implementing a Financial Wellness Strategy for your Business’s Employees.