by | September 17th, 2018

It’s hard to imagine there was a time when having a job equated to financial security, but, as most of us know, those days are over.

Today, employees must bear more responsibility than ever before for their own financial lives.  Yet many employees lack the proper tools, products and guidance needed to help them manage this financial shift.

Why is this an important business issue?

According to recent surveys conducted with Human Resources professionals, financial stress not only impacts employee workplace performance and employee engagement, the most serious repercussion is the toll it takes on employees’ health.

In fact, employees reporting high levels of financial stress are more than four times as likely to suffer from symptoms of fatigue, headaches, and depression and are twice as likely to report poor health overall, leading to more sick days and increased absenteeism — posing a serious threat to the health of those companies.

How Employers Can Help

Businesses can ease some of that stress by helping employees manage their personal finances and better prepare for their own retirement.  There is a huge upside for employers who can find ways to walk the line of providing financial guidance for their workers.  Aside from potentially increasing productivity and reducing absenteeism, this kind of benefit can build goodwill that can both attract new employees and retain current ones.

Providing financial benefits also shows employees that the organization cares about them as individuals, inspiring loyalty and motivation.  When employees feel their employers care about their health and well-being, they’re much more engaged.

With our expertise in identifying the financial risks people are facing, we help small businesses optimize benefits offerings, address gaps in products and measure progress.

By tailoring a suite of product and service solutions, Fahmy & Associates can help improve financial wellness across an organization in ways that maximize return on benefits spending.

As with most benefits programs, an effective financial wellness program won’t be one-size-fits-all, so it’s important to set up an appointment to customize a plan that can build new pathways to prosperity for you and your employees.

If you are interested in learning more about Employee Financial Wellness Plans, please contact Fahmy & Associates today at 703-760-4630.

— Ken Fahmy

CERTIFIED FINANCIAL PLANNER® CHARTERED LIFE UNDERWRITER CHARTERED FINANCIAL CONSULTANT