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Your employees work hard for you. They’re the reason your business is successful. Happier at work initiatives have proven results – happy employees mean happy customers. Often a confident happy employee means a happy financial life.  But can you as a human resource practitioner afford to constantly give raises? By changing your employee’s money habits for the long term your employees can learn how to get on a budget, get out of debt save for emergencies and retire with confidence.

Smart HR professionals prioritize benefits that actually make a difference in your employee’s lives. This article discusses three of the most impactful wellbeing benefits you could offer your employees to keep their motivation levels high. When your employees feel appreciated, they’ll continue delivering excellent results. Keep reading to learn more about workplace benefits that actually make a difference for employees..

What Are the Most Impactful Work Perks?

Employee benefits or company perks refesr to a wide range of non-wage compensation given to employees by an organization in addition to a regular salary or payment option. Companies often include employee benefits in a job offer to attract and retain the most talented workers.

Here are three company benefits you can offer your employees to motivate them in their work:

1. Offer a Financial Workplace Wellness Program

Financial wellness refers to an individual’s overall financial health and contributes to being free of money-related stress. It can be considered one of the top employee assistance programs for your employees. This benefits strategy helps employees learn how to better manage their expenses and take control of their financial future through a financial workplace wellness program.

As an employer, you can facilitate better financial education to have happier, more productive employees. The following are a few of the reasons why you should offer a financial workplace wellness program.

  • Reduce absenteeism and promoting presenteeism
  • Make employees happier and healthier
  • Prevent the loss of productivity
  • Lower your healthcare costs
  • Increase your 401K participation

A 2019 study, appearing in the Journal of Workplace Behavioural Health, recommends a financial workplace wellness program to help your employees learn better budgeting strategies and reduce money stress. 

One of the main purposes of a financial workplace wellness program is to teach employees how to increase their asset-building finances. Examples of financial literacy programs offer courses about debt reduction, retirement account growth, and homeownership.

2. Provide a Wellness Spending Account

Motivate your employees by showing that you care for their health and wellness. Employee health wellness programs may include benefits that meet their physical and mental needs beyond the typical health, dental, and vision insurance. 

A wellness spending account, for example, could allow your employees to get a financial wellness program,  gym memberships or a monthly allowance for fitness classes, sports leagues, and more to promote a healthy lifestyle. Employees could fund nutrition counseling, art therapy, mindfulness workshops, and more to improve their life outside of work hours.

3. Offer Skills Development Programs

Another significant workplace benefit is investing in employee development. Research shows that skills development programs can boost employee performance, retention, and satisfaction. It involves improving employees’ skills through training and other learning opportunities. 

For example, you could have your employees enroll in coaching or mentorship programs, join local industry groups, engage in employee-to-employee learning, and take part in opportunities to observe a given subject matter. One skill that should be in everyone’s toolbox is that of understanding personal finance. In the end, your employees can experience growth in all facets of their work. They get the chance to prepare for professional and personal challenges that might arise in the future and increase their chances of success.

Partner with a BBB A+ Rated Financial Workplace Wellness Program

Every employer should implement benefits like the three highlighted above that make an impactful difference to employees’ lives. 101 Financial Workplace Wellness makes it easy by offering a comprehensive financial education program that costs less than a cup of coffee a day.  Your employees will see a difference in their lives, and you’ll see a difference in your business.

Contact the 101 Financial Workplace team today to learn more about this benefit that has great impacts and take advantage of our free ebook on the benefits of financial workplace wellness programs.