3 Benefits That Make a Difference for Employees
Employees who work hard are the reason your business is successful. Happy employees mean happy customers. Often, a happy employee is the result of a stress-free financial life. As an employer, you can help your employees achieve a stress-free financial life not just by providing a paycheck, but by offering benefits that help improve overall wellness.
Wise employers prioritize benefits that make a difference in employees’ lives. This article discusses three of the most impactful wellbeing benefits to offer your employees. Wellbeing benefits show your employees you care about them and appreciate their efforts. As a result, these employees are more motivated, more productive, and generally happier at work.
What Are the Most Impactful Work Perks?
Employee benefits, or company perks, refers to the non-wage compensation given to employees. For example, many companies offer product discounts, free meals, family activities, educational programs, and so on. Companies often include employee benefits in a job offer to attract and retain the most talented workers. Below are three company perks that contribute to overall employee wellness.
1. Offer a Financial Workplace Wellness Program
Financial wellness refers to an individual’s overall financial health. Wellness programs aim to improve financial health and reduce money-related stress. Consequently, an employee financial wellness program is one of the most highly recommended company perks employers can offer. These programs help improve financial literacy through courses on debt reduction, cash flow, retirement planning, and more.
As an employer, you can facilitate better financial education by offering a program such as 101 Financial’s Workplace Wellness. Financial wellness programs provide benefits to both employees and employers. For example, by reducing financial stress, these programs reduce employee absenteeism and increase productivity. Additionally, they lead to increased 401k participation, lower healthcare costs, and result in happier and healthier employees.
2. Provide a Wellness Stipend
Motivate your employees by showing that you care for their health and wellness. Offering a wellness program or stipend is similar to a cash bonus, but can be geared toward employee health and wellness. Improved physical and mental health can improve productivity and employee engagement.
A wellness stipend, for example, could allow your employees to get a financial wellness program, gym membership, or a monthly allowance for fitness classes or sports leagues to promote a healthy lifestyle. Similarly, employees could fund nutrition counseling, art therapy, mindfulness workshops, and more to improve their lives outside of work hours.
3. Offer Skills Development Programs
According to Gallup, the most important factor employees look for in a job is the opportunity for development. Development programs can boost employee performance, retention, and satisfaction. ResearchGate states this involves improving employees’ skills through training and other learning opportunities.
Skills development programs can vary widely between organizations and might involve different topics, teaching methods, and durations. For example, you could provide opportunities for your employees to enroll in coaching or mentorship programs or join local industry groups. The purpose of a development program is to give employees the opportunity for growth and learning. By offering skills development benefits, you help increase your employees’ chances of personal and professional success.
Partner with a BBB A+ Rated Financial Workplace Wellness Program
Employers who implement benefits like the three highlighted above make an impactful difference in their employees’ lives. Furthermore, by partnering with a credible third party such as 101 Financial Workplace Wellness, you can provide a comprehensive financial education program to your employees and contribute to their overall wellbeing.
Find out how 101 Financial’s Workplace Wellness program helps employees achieve stress-free financial lives.