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LifeWorks (now TELUS Health) Overview: LifeWorks (rebranded as TELUS Health) is a global EAP provider offering a full spectrum of employee well-being servicesfrom mental health support to legal and financialcounseling.
Offer FinancialCounseling Services. Many people find that financial issues cause them the most stress. Promoting financial wellness and addressing the negative effects of money-related stress on employees is often overlooked by companies when they seek to lessen the stress level of their workforce.
I recently attended the 2023 Association for FinancialCounseling and Planning Education (AFCPE) Symposium along with over 600 financial educators, researchers, planners, counselors, and other practitioners. air conditioning due to more frequent heat waves), chronic health condition expenses (e.g.,
Last week, I attended the virtual 2021 AFCPE (Association for FinancialCounseling and Planning Education) Symposium for financial educators, planners, counselors, coaches, researchers, and content creators worldwide. Couples need to develop a money management process that works for both individuals.
One of the great features of the annual Association for FinancialCounseling and Planning Education (AFCPE) Symposium is that AFCPE now makes video recordings of all of the breakout sessions and makes them available to attendees for a year.
Research shows that financial anxiety can cause people to lose focus at work , lose sleep, and eat poorly, among many other things. Financial wellness programs are designed to address these worries by helping employees gain control over their finances.
Personal financial advice: Money matters often require a personalized approach, especially as everyone’s situation is different. By offering their staff access to one-to-one financialcounseling, they can discuss their unique needs and concerns with a financial advisor who can help them better understand and explore their options.
Many employers now see financial wellness as a pillar of overall well-being and have incorporated financial wellness resources into their employee wellness programs. Discount programs to help employees save on everything from groceries to vacation travel.
Payactiv Payactiv offers a holistic financial wellness platform for employees, providing access to earned wages, budgeting tools, and financialcounseling. The platform’s integration with employer benefits programs and loan management tools makes it a valuable solution for debt-ridden employees 10.
Many will offer retirement matching but don’t include additional benefits such as financialcounseling and education. Financial wellness benefits are a great way to help your company stand out amongst competitors when attracting and maintaining your workforce.
The role of debt management and financialcounseling in collections In addition to collecting payments, collectors often play a crucial role in debt management and financialcounseling. They have the opportunity to provide guidance and support to customers who may be struggling financially.
From mental health programs and emotional support groups to financialcounseling sessions on how best to manage their money – there are many ways that companies can help make life better for their people. Employee wellness used to mean providing comprehensive healthcare benefits, but now it’s so much more.
A good way to aid your employees in minimizing the stress associated with finance is by instituting financial wellness programs or benefits. There are a wide variety of these programs from financialcounseling sessions to employer matching programs.
Financial wellness programs are expanding to include personalized financial planning, budgeting tools and educational resources. Other opportunities include student loan assistance, debt management programs, and employee assistance programs that provide financialcounseling.
There are five basic contributors to financial wellness. Financialcounseling , especially from professionals, can help people understand and manage the first two. First, helping figuring out someone’s budgeting and spending profile. Closely related is whether they have emergency funds ready and how big that cushion is.
FinancialCounseling – Connecting employees with Financial Professionals allows them to seek guidance as they experience specific challenges. Those that choose to meet with a counselor can move forward with a road map toward financial stability.
Help and guidance through the financial jungle is another important aspect; discount platforms often include free mortgage advice, colleagues can be signposted to charities to help with problem debt, and many employee assistance programmes (EAPs) include financialcounselling.
In addition to offering flexibility, companies can also provide employee-centric benefits, like financialcounseling. However, they can hire from anywhere in the world with a hybrid work environment. Research has shown that this benefit can help employees manage their finances and reduce stress, improving their overall well-being.
Attendees at the same professional conference have different take aways depending on their lifestyle, job responsibilities, subject matter knowledge/skill set, and other personal characteristics. We all filter new information through these lenses.
Meanwhile, Amazon has introduced new benefits to support employee well-being, including an emergency savings fund, a mental health app, and expanded access to financialcounseling and virtual mental health support.
Financial Wellness Programs Financial stress can significantly impact an employee’s performance and satisfaction. Paid Time Off and Parental Leave Generous paid time off (PTO) policies and parental leave options are highly valued perks.
We provide all our team members with a robust Employee Assistance Program that helps individuals address personal issues but also provides resources for self-improvement, financialcounseling and free visits. Our experience is that candidates value benefits that reflect their values for corporate responsibility and diversity.
Employee Assistance Programs (EAPs) – Collaborate with EAP providers to integrate financialcounseling services into your wellness programs. Whether it’s a savings challenge or an investment competition, fostering a sense of camaraderie can make the learning process more engaging and enjoyable.
Financialcounseling Losing a job can be a financial blow for employees, so companies can offer financialcounseling services to help them navigate their finances during this difficult time. Financialcounseling and wellness support are also becoming more common as an employee benefit.
The idea of “financial wellness” is catching on, and more employers are providing benefits that help employees save for college, address debt and plan for their financial futures. More ‘Consumer’ Benefits.
Financial wellness benefits could include programs like retirement plans , life insurance , disability insurance , student loan repayment assistance and financialcounseling. By helping employees take charge of their finances, employers can also support improved mental well-being.
The video includes stories from actual consumers whose lives have been changed by the organization’s financialcounseling and educational services. Another important activity for new hires is watching a 30-minute company documentary. The sky’s the limit for how to tell your story during new employee orientation, just remain genuine.
For example, EAPs may help employees access childcare, legal services, and financialcounseling. EAPs can also help employees access counseling and assistance with mental health and substance use disorders. In some cases, EAPs may provide referrals. All these services are confidential. Securing Help for Your Workers.
Employee assistance programs (EAPs) provide confidential counseling services to help employees navigate personal and work-related challenges. These programs often cover a range of issues, from stress management to financialcounseling.
Encouraging employees to save and invest wisely can be part of a broader financial wellness program. Offer resources such as online calculators, investment seminars, or one-on-one financialcounseling sessions to assist employees in making informed decisions about their financial future.
Q: How can employers evaluate the financial wellbeing of their staff? Employers can evaluate the financial wellbeing of their staff by conducting regular surveys and financialcounselling sessions to understand their employees’ needs and overall workforce sentiment towards their financial wellness offerings.
This readily available support system allows employees to address personal challenges without fear of judgment. Investing in wellbeing pays off Prioritizing wellbeing through thoughtfully designed employee benefits packages isn't just about employee happiness; it's a smart business decision.
Financial Support Include benefits that address employees’ financial well-being. This may involve offering retirement savings plans, financialcounseling services, or student loan assistance programs. Provide educational resources to help employees make informed decisions about their financial benefits.
Financialcounseling Offer financial planning and counseling services to help employees manage their finances. Financial wellness programs can provide valuable advice on budgeting, investing, debt management, and retirement planning, contributing to employees' overall well-being and reducing financial stress.
As I noted last week , I slowly made my way since last December through over a dozen video recordings of presentations made at the 2023 Association for FinancialCounseling and Planning Education (AFCPE) Symposium.
Financialcounseling: Parents need information about paying for college and access to savings plans. Some employees may need time off to take their parents to doctor’s appointments. Continue to offer parents of older children the same flexibility you give new parents.
If your business is a financial firm, you could offer one hour of complimentary financialcounseling each year to every employee. For example, if you run a chain of auto repair shops, you could offer free oil changes year-round to all employees for one vehicle.
How to participate in wellness program offerings, mental health benefits, financialcounseling, and other non-traditional benefits. Common health insurance terminology, even (especially for younger employees) the basics, like “premium,” “deductible,” and “out-of-pocket maximum.”
An Employee Wellness Portal or Microsite Wellness program components can include everything from group challenges to financialcounseling to healthy eating guides. Leading LMS tools include Cypher Learning , TalentLMS , Absorb , iSpring , and Docebo.
Financial wellness as a cornerstone Economic uncertainties and the rising cost of living have pushed financial wellness to the forefront of benefits discussions. Inclusivity and accessibility In 2025, inclusivity is no longer optional.
(When employees feel good about their finances, they are statistically happier — 84% vs. 55% — and more engaged — 78% vs. 53% — than their financially stressed counterparts. There are many ways to promote financial wellness in the workplace , such as offering free financialcounseling or access to budgeting apps.
I recently returned home from the 2024 Symposium of my professional “home,” the Association for FinancialCounseling and Planning Education® or AFCPE®. This conference serves an amazing mix of researchers, practitioners, and educators whose work positively impacts the financial wellness of U.S.
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