The current coronavirus pandemic is making it tough for employers and employees on many angles. While some are losing their jobs, some are worried about losing it soon. On the other hand, the ones with their job intact are grateful to have them. And the employers have also allowed remote working considering the social distancing norms and employee health.
Despite the measures taken by the employers, the employees still seem to be expecting more, and the 2 most important factors that they are anticipating from their employers are – emotional support and financial relief.
A survey by NPR revealed that almost 1 in every 5 American households has lost their job due to the COVID-19 situation. This means a reduced income to meet household expenses, and for many, a loss of the primary source of income. This low income has not just influenced their financial planning, but has also caused mental stress, disturbing employee health and morale, stressing them, and thus, affecting their productivity at work.
Employers need to address these employee wellness and productivity issues so that their organizational productivity is not affected and their business runs well. Considering the current situation and the fast-changing circumstances, the employers need to take measures to reassure their employees that they are important to the company, boost their morale, and show that they care.
One good way to do so is by offering – Financial Wellness Programs
Financial Wellbeing Programs
Holistic wellness can be achieved only when a person is doing well physically and mentally, and this calls for working on different wellness dimensions – nutrition, physical activity, social connections, mental wellness, and financial wellbeing.
Offering employee wellness programs is a great way of showing the employees that you care for their holistic health, and by including financial wellbeing programs in it, it proves that you are not only paying attention to their physical and mental health but also their financial wellness.
Employers can offer financial benefits in the form of cash rewards, health savings account (HSA) contribution, better healthcare premiums, and also offer free consultations with financial experts who will help them make better fiscal planning.
Increased financial security, along with the regular income, can help improve employee engagement, build trust, and benefit the employees at times of income wrought, especially caused by the current coronavirus situation. The employees can make use of the financial wellness programs that will help them replan their budgets, and also earn more rewards and incentives that could help them bridge the income gap, temporarily.
If you are looking to start a proper employee wellness program that extends holistic wellness approaches, you are in the right place. Wellness360 wellness programs help build workplace wellness, better employee health, and overall organizational productivity.