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EAPs can: Reduce absenteeism and presenteeism Improve employee engagement Lower healthcare costs Support DEI (Diversity, Equity & Inclusion) initiatives Foster a culture of care and psychological safety Companies investing in EAPs are not just ticking off an HR requirementtheyre making a strategic investment in workforce resilience.
A company wellness program is a valuable employee benefit that can increase productivity, reduce absenteeism, improve mental health, and decrease healthcare costs. Employee wellness used to mean providing comprehensive healthcare benefits, but now it’s so much more. But how do you implement an effective company wellness program?
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.
Individuals, regardless of age, may be facing financial burdens ranging from large healthcare bills or credit card debt, to a lack of experience with budgeting and financial planning. FinancialCounseling – Connecting employees with Financial Professionals allows them to seek guidance as they experience specific challenges.
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.
When employers support their workforce with good financial wellness benefits, such as wealth creation plans, retirement benefits, healthcare coverage, travel expense coverage, etc., Healthcare coverage – Health is wealth. Q: How can employers evaluate the financial wellbeing of their staff?
No surprise copays or hidden costs here – just comprehensive healthcare coverage. They provide a sense of security for the future and encourage long-term financial planning. Indeed goes above and beyond with impressive employee perks, including fully covered deductibles on health insurance plans for all full-time staff.
Provide flexibility in allocating benefit dollars across different components, such as healthcare, retirement savings, and wellness programs. Financial Support Include benefits that address employees’ financial well-being. Recognize that employees from different cultural backgrounds may have unique preferences and needs.
This could include options like flexible work hours, remote work arrangements, additional healthcare choices, or the ability to allocate a portion of their compensation towards benefits of their choice. Financialcounseling Offer financial planning and counseling services to help employees manage their finances.
This is required under the Affordable Healthcare Act. Financialcounseling: Parents need information about paying for college and access to savings plans. Lactation support for new mothers : Provide a clean, private place for breastfeeding moms (not a restroom), as well as reasonable breaks throughout the day to pump.
Bringing in a healthcare professional to provide vaccines, like the flu shot, once a year can also save employees time and keep everyone healthier. If your business is a financial firm, you could offer one hour of complimentary financialcounseling each year to every employee. Office petting zoo.
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.”
Each tool or app has a role in helping employees become their best selves and helping employers achieve the many benefits of a corporate wellness program among them, increased productivity , higher engagement levels, less absenteeism, and lower healthcare costs.
Gen Z, for instance, values mental health support and career development opportunities, while Baby Boomers may prioritize comprehensive healthcare and retirement planning. Financial wellness as a cornerstone Economic uncertainties and the rising cost of living have pushed financial wellness to the forefront of benefits discussions.
(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.
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