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Wellness in the workplace has long been an important benefit for many employees at many forward-thinking companies. Of course, “wellness” in this sense traditionally has referred to lifestyle improvement in physical terms. From nutrition to exercise, these wellness programs have served as invaluable resources for greatly enhancing one’s daily life, all of them offered as part of the workplace experience.
Financial wellness is defined as the ongoing practice of striking a balance between living responsibly today and planning for tomorrow.
While it may be true that money can’t buy happiness, it can directly impact one’s daily way of life. Those who feel more secure about their personal financial situation are likely to focus more attention on their day-to-day. Establishing goals along with healthy spending and saving habits and maintaining them throughout a lifetime is also important for your employee’s financial well-being. Given a world that is constantly demanding our attention on both personal and professional levels, time itself has become a precious commodity. Fortunately, pursuing financial wellness requires only a nominal amount of time. Better yet, it can be accomplished at the workplace as a convenient benefit for your employees.
Financial Wellness is not about money; it’s about decision making. Any Financial Wellness program that is implemented within a company should help employees build Awareness of where they are financially, provide them Education to aid them in establishing their financial goals and encourage them to change their Behavior through comprehensive financial planning.
To learn more about Waddell & Reed's Financial Wellness program for your workplace contact our office at 616-855-8643 (direct line).
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